Global Network Consulting Services Market Size, Forecast, and Trend Highlights Over 2022 - 2031
The global network consulting services market is estimated to garner a revenue of ~USD 27 million by the end of 2031 by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 15 million in the year 2021. The growth of the market can primarily be attributed to the surge in demand for network security services with the rise in data breaches worldwide. For instance, a mega breach was reported which involved ~1 million compromised records in the year 2018, which accounted for approximately USD 39 million.
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The Network Consultant is an experienced and educated professional who certifies network functionality and performance. They are responsible for designing, setting up and maintaining computer networks at either an organization or client location. Network consultants develop and maintain network infrastructure for their clients. They create internet domains, increase server capacity to optimize the flow of information, and maintain secure servers. They also travel to client locations to perform installations and resolve network issues. With the increasing number of internet of things (IoT) connected devices, the demand for network consulting services is on the rise amongst the digitalized businesses, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global network consulting services market during the forecast period. For instance, globally the number of internet of things (IoT) connected devices was estimated to be ~8 billion in the year 2019 and the same is projected to reach up to 30 billion by 2031.
Global Network Consulting Services Market: Growth Drivers and Challenges
Rise in ICT Spending on New Technologies – New technologies such as artificial intelligence, robotics, and virtual reality (VR)/ augmented reality (AR) are expected to represent more than 25% of ICT spending in the upcoming 5-10 years, which will increase the number of networks worldwide and is expected to further boost the demand for network consulting services.
Growing Cloud-based Storage – It was found that, in the year 2015, about 25% of data was stored in the cloud globally, whereas the total amount of data that will be stored in the cloud is estimated to reach ~50% by 2025.
Upsurge in the Number of Internet Users – It is observed, that approximately 69% of the total world’s population are actively using internet in 2022.
Growing Volume of Data – It has been observed that, the volume of data generated was more than 1.5 MB of data per second worldwide, in the year 2020.
Increasing Market Automation - For instance, it was found that, in 2022, over 50% companies are adopting market automation technology worldwide.
- Challenges to Abide by the Changing Regulatory Policies
- Concern of Increasing Data Breaches
- Changing Client Demands and Tight Deadlines
The global network consulting services market is segmented and analyzed for demand and supply by enterprise into large enterprises and small and medium enterprises (SMEs). Amongst these segments, the large enterprise segment is anticipated to garner the largest revenue by the end of 2031, backed by the growing business enterprises along with the surge in the digital transformation of businesses worldwide. For instance, it is forecasted that the total global spending on digital transformation (DX), is about to touch more than USD 1.5 trillion by the end of 2022.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Network Consulting Services Market Regional Synopsis
Regionally, the global network consulting 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 presence of big network consultancy firms in the region as well as a growing number of secure internet servers. For instance, worldwide, the United States is the top country for secure internet servers. It was found that, in the year 2020, secure internet servers in the United States were more than 46 million, accounting for ~52% of the world's total secure internet servers.
The global network consulting services market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global network consulting services market includes the following segments:
By Service Type
Top Featured Companies Dominating the Global Network Consulting Services Market
- Cisco Systems, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Huawei Technologies Co., Ltd
- IBM Corporation
- Fujitsu Limited
- Hewlett Packard Enterprise Company
- Capgemini Services SAS
- Telefonaktiebolaget LM Ericsson
- Unisys Corporation
- Dell Technologies, Inc.
- Oracle Corporation