Network Engineering Services Market Expected to Reach $111.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Network Engineering Services Market," The network engineering services market size was valued at $43.7 billion in 2021, and is estimated to reach $111.7 billion by 2031, growing at a CAGR of 10.1% from 2022 to 2031.

Network engineering is an important emerging engineering discipline that encompasses specific features of the digital network and services. The growth of the worldwide digital network and services has increased the demand and need for engineering graduates with core digital networking skills. Furthermore, network engineering services are utilized by various organizations to maintain the connectivity of networks in terms of data, calls, voice, videos, and wireless networks. In addition, for the smooth operation of an organization, new technologies and applications are introduced on a regular basis. Maintaining and ensuring the effective execution of information and communication within and outside the organization requires computer network engineering.

Furthermore,  increasing number of connected devices, the increased requirement for new highly developed network infrastructure, and technological advancements in the field of Information and Communications Technology (ICT) are the major factors driving the market forwards. Such services are widely used in the ICT industry, which is expected to drive the market for network infrastructure among various businesses even further. With the growth of IoT across industries and the growth of communications technologies, there is a rising demand for advanced network infrastructure. In addition, the dependence of growing data-based services on web hosting propels the growth of the market. However, the major restraint of the network engineering services market is the high price of the upgradation of software. Contrarily, the introduction of advanced networking solutions is expected to provide major growth opportunities for the growth of the market.

For instance, in March 2019, Tata Communications, a leading global digital infrastructure provider, and Zeetta Networks, a leading network slicing and splicing company, announced a global partnership agreement to facilitate early adoption of technologies such as 5G and network slicing within the ICT space. As a partner to Zeetta Networks, Tata Communications installed, maintained, and supported Zeetta Networks’ NetOS in telco and enterprise networks to enable use cases such as factory-as-a-service, smart cities, smart venues, connected cars, gaming & security, and others. Moreover, developing & developed countries such as India and U.S. are increasingly targeted by the key players to develop and launch the network engineering services features into the existing range of products. For instance, in June 2021, L&T Technology Services Limited, an India-based engineering services company, entered into a partnership with Mavenir, U.S. based telecommunications software company, to deliver end-to-end 5G automation services.

On the basis of enterprise size, the large enterprise segment dominated the overall network engineering services market in 2021 and is expected to continue this trend during the forecast period. This is attributed to the complex communication demands of various large corporations needing custom networking solutions. However, the SMEs segment is expected to witness the highest growth owing to their growing technological investments and growing innovation, which is expected to further fuel the growth of the global network engineering services industry.

Region wise, the network engineering services market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its transforming technology and communications sector which is expected to drive the market for network engineering services within the region during the forecast period. However, Asia-Pacific is expected to witness significant growth during the network engineering services market forecast, owing to its growing digital capabilities and a highly competitive market space, which is anticipated to fuel the network engineering services market growth in the region in the coming few years.

Key Findings of The Study

• By service type, the network deployment segment accounted for the largest network engineering services market share in 2021.
• By region, North America generated the highest revenue in 2021.
• By enterprise size, large enterprises registered highest market share in 2021.
• By industry vertical, IT and Telecom segment accounted for the largest network engineering services market share in 2021.

The key players profiled in the network engineering services market analysis are Cyient, Datavision, Inc., Imagit Inc, Infosys Limited, Integration International, Inc., Mphasis, PCS Technologies Inc., Sincera Consulting LLC, Softnautics, and TATA Communications. These players have adopted various strategies to increase their market penetration and strengthen their position in the network engineering services industry.