LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global Internet services market and the market is poised to experience spend growth of over USD 200 billion between 2019-2024 at a CAGR of more than 7% during the forecast period. Request Free Sample Pages.
Read the 136-page research report with TOC and LOE on "The Global Internet Services Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top suppliers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”
The advent and the eventual popularity of BYOD devices are creating the requirement for a unified communication platform within buyers’ organizations which is making the utilization of high-speed Internet service a bare necessity. The proliferation of smartphone users coupled with the expansion of the mobile network area coverage is increasing the demand for mobile Internet services across the globe. These factors are exerting a cumulative impact on the spend growth in the Internet services market.
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Insights into the supply market
The concentration of regional Internet service providers is restraining their global counterparts to hike prices of Internet services. Most of the global Internet service providers are reducing their service charges to remain competitive in the market and retain/attract clientele to leverage from bulk business volumes.
- In terms of innovation, Internet service providers in North America and Europe are dominating the market. The deployment of SD-WAN solutions for network virtualization to meet the high data requirements of buyers is an upcoming trend in these regions. Buyers are also increasingly implementing end-to-end IP wireless networks through the use of 4G technology such as LTE and WiMax networks to simplify the architectural challenges associated with enterprise mobility services.
Insights into category management strategies that will help buyers to optimize their procurement spend
Internet service providers will tackle recurring expenditure to implement networking hardware and on energy to power Internet connectivity to cater to the demand for high-speed Internet connectivity. To compensate for this expense, service providers are likely to increase their service charges which will impact buyers’ procurement expenditure in the Internet services market. Considering this possibility, this report has listed category management strategies and procurement best practices that will not only aid buyers in achieving an optimal procurement spend but also improve their supplier management relationship.
Partner with service providers who provide a pay-as-you-grow engagement model
Buyers should evaluate options to engage with service providers through the pay-as-you-grow model. Within this model, buyers only need to pay based on their usage rate per individual months. Furthermore, such an engagement model brings about an opportunity to reduce pricing based on scalability.
Analyze service offerings to avoid vendor lock-ins
Factors such as poor service quality, high costs, changes in IT policies, security concerns, the introduction of better service by a different supplier, and M&A situations compel buyers to switch to different service providers. However, the cost of switching can often be expensive and can get further exacerbated by instances of vendor lock-in. Therefore, buyers must scrutinize the offerings of the service providers for possibilities of vendor lock-in and demand client testimonials to assess such possibilities.
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Some of the key topics covered in this report are:
- Internet services market spend segmentation by region
- Total cost of ownership analysis in the Internet services market
- Regional spend opportunity for Internet service providers
- Internet service providers cost structure
- Internet services pricing models analysis
- Internet services procurement best practices
- Category management objectives
- Cost saving opportunities in the Internet services market
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