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Network Consulting Services Market Analysis by Service Type (Network Designing & Planning and Network Testing, Network Security); by Enterprise {Large Enterprises and Small & Medium Enterprises (SMEs)}; and by Industry (IT and Telecom, BFSI and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Huawei Technologies Co., Ltd. launched the industry's first Storage-Optical Connection Coordination (SOCC) solution, which provides the advantages of storage devices and optical transmission products to prevent financial transaction failures caused by network jitter, ensuring stable and reliable financial transactions.
  • Cisco Systems, Inc. announced a collaboration with Axians, a Vinci Energies brand, to provide Cisco private 5G to enterprises across industries in Germany and the Netherlands and support the adoption of IoT with the power of 5G. Delivered as-a-service by Axians, Cisco’s Private 5G solution will ensure automation, flexibility, efficiency, and security to help customers enhance digital transformation and expand their IoT capabilities.

Global Network Consulting Services Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Network-Consulting-Services-Market-Size

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.

Network-Consulting-Services-Market-Scope

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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

Growth Drivers

  • Rise in ICT Spending on New TechnologiesNew 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

  • 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

Global-Research-and-Development-Expenditure

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.

Network-Consulting-Services-Market

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

Market Segmentation

Our in-depth analysis of the global network consulting services market includes the following segments:

By Service Type

  • Network Designing & Planning
  • Network Testing
  • Network Security

By Enterprise

  • Large Enterprise
  • SMEs

By Industry

  • IT and Telecom
  • BFSI
  • Energy and Utilities
  • Manufacturing
  • Healthcare
  • Retail
 

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

 

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