Network Advisory Services Market is estimated to garner a moderate revenue by the end of 2031 by growing at a CAGR of ~18% over the forecast period, i.e., 2022 – 2031.
Further, the market generated a modest revenue in the year 2021. The growth of the market can primarily be attributed to the surge in the information and communications technology (ICT) worldwide. For instance, the global ICT spending in 2020 accounted for more than USD 4,800,000 million and is expected to increase by ~5% annually between 2021-2023.
Organizations are adopting cloud-based technology and embracing digitalization to accelerate their revenue growth. In order to get the best possible outcome and productivity, an automated, software -defined and agile network is required. This is done by network advisory service providers who plan the strategy, roadmap, architecture, and transformation for it leading to faster achievement of business goals. In other word, network advisory service requires taking client challenges and applying strategies to create opportunities in service to their growth. With the increasing digital transformation of businesses as well rising threat of network security along with rising incidences of data breach, the demand for network advisory services is on the rise amongst the digital businesses and services providers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global network advisory services market during the forecast period. It was found that, in the year 2018, there was a mega breach reported, involving ~1 million compromised records, which accounted for approximately USD 39 million.
Growth Drivers
Challenges
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Base Year |
2021 |
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Forecast Year |
2022-2031 |
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CAGR |
18% |
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Regional Scope |
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The global network advisory services market is segmented and analyzed for demand and supply by enterprise into large enterprise and SMEs. Amongst these segments, the large enterprise segment is anticipated to garner the largest revenue by the end of 2031, backed by the growing number digital enterprises opting for network advisory services worldwide as precautionary measures for working with a hassle-free network and system. According to a survey with over 40% of large and mid-sized enterprise respondents, it was found that, a single hour of downtime in network, systems, applications or other hardware, can cost more than USD 1 million to their enterprises.
Our in-depth analysis of the global network advisory services market includes the following segments:
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By Service Type |
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By Enterprise |
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By Industry |
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Regionally, the global network advisory services market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in North America is projected to hold the largest market share by the end of 2031, backed by the increasing adoption of virtualization technology by businesses in the region, as well as the rising server virtualization in businesses. For instance, by 2019, over 90% of businesses in North America adopted server virtualization technology, whereas another 5% of businesses planned their adoption in the next 2 years.
January, 2020: CBRE, Inc. - acquired New England Fiber, Inc. (NEF), a leading telecommunications and network infrastructure advisory services firm, to get technical expertise from it. This strategic acquisition will help CBRE to advise clients on network capabilities and ensure that exceptional outcomes are delivered for them across the globe.
June, 2022: Cisco Systems, Inc. - launched its enhanced version of Routed Optical Networking solution with new products and features. Its new Cisco NCS 1010 open optical line system, Bright ZR/ZR+ pluggable optic provides advisory, planning, solution validation, and expanded support to help customers with their move to Routed Optical Networking.
Author Credits: Abhishek Verma
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