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.
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.
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.
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:
Our in-depth analysis of the global network consulting services market includes the following segments:
By Service Type
FREQUENTLY ASKED QUESTIONS
Increasing network security concerns along with growing market automation and surge in digital transformation of businesses, services and products are some of the major factors anticipated to drive the growth of the market.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2031.
Rising data breaches along with changing regulatory framework are some of the factors estimated to hamper the market growth.
The market in North America is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Cisco Systems, Inc., Huawei Technologies Co. Ltd., IBM Corporation, Fujitsu Limited, Hewlett Packard Enterprise Company, Dell Technologies, Inc., Unisys Corporation, Oracle Corporation and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by service type, enterprise, industry, and by region.
The large enterprise segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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