Rise in demand for VoIP services across organizations and developments in network infrastructure have boosted the growth of the global network optimization services market. However, advancements in WAN and RAN optimization technology hamper the market growth. On the contrary, increase in the number of production facilities is expected to open lucrative opportunities for the market players in the future.
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Covid-19 Scenario:
- Due to the Covid-19 pandemic, increase in need for network optimization services from government agencies and policymakers were observed to implement AI systems, big data analytics, and data analysis software to monitor the spread in real-time, make predictions, and classify Covid-19 treatment drugs.
- Several businesses opted for a “work from home” culture and employed suitable measures to ensure optimal performance and security of their network infrastructure owing to increase in network threats such as data breaches and hacking.
By application, the WAN optimization segment held the lion’s share in 2020, contributing to around half of the global network optimization services market, as SD-WAN has changed the way networks support corporate applications by proactively regulating and effectively using all available WAN transport resources. However, the RAN optimization segment is estimated to register the highest CAGR of 18.2% from 2021 to 2028, owing to rise in awareness about industry-specific services and development in the field of artificial intelligence and machine learning.
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By service, the implementation segment dominated the market in 2020, accounting for more than two-fifths of the global network optimization services market, due to rise in demand for remote working and work from home solutions because of the Covid-19 pandemic. However, the consulting segment is projected to manifest the largest CAGR of 18.1% from 2021 to 2028, due to trend of digital transformation for higher customer reach & scope and uninterrupted communication for smooth business growth.
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