Networking Support Services Market Share
Projected $965.44 Billion Market Size in 2025: A Steady Growth Fueled by Evolving Work Practices, Expanding Business Globalization, and Rising Cyber Threats
What Is The Projected Market Size Of The Global Networking Support Services Market And Its Growth Rate?
• The market size is predicted to grow from $899.37 billion in 2024 to $965.44 billion in 2025, recording a compound annual growth rate (CAGR) of 7.3%.
• An escalating growth has been marked in the historic period due to factors such as mounting complexity of network infrastructures, increasing dependence on digital communication, cyber threats, business expansion, globalization, and evolving work practices.
• It is expected to surge to $1,320.26 billion in 2029 at a CAGR of 8.1%, driven by adoption of cloud-based services, a greater emphasis on data privacy and compliance, shift to hybrid work models, and focus on network performance optimization.
What Is Driving The Growth In The Networking Support Services Market?
The surge in the networking support services market is attributed to an increasing demand for cloud-based solutions. With on-demand computing resources provided via internet, cloud-based solutions allow organizations to have management, visibility, and scale to operate distributed cloud and on-premises, enhancing security and location infrastructure. According to a report by Thales Group in 2022, around 98% of corporations store some of their data on the cloud, with it housing roughly 60% of all corporate data. This increasing utilization of cloud-based solutions is amplifying the growth of the networking support service market.
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Who Are the Key Players Driving Networking Support Services Market Growth?
• Cisco Systems Inc.
• Verizon Communications Inc.
• AT&T Inc.
• Cloudflare Inc.
• International Business Machines Corporation
• DXC Technology Company
• Hewlett Packard Enterprise Ltd.
• Arista Networks Inc.
• Dell Inc.
• Extreme Networks Inc.
• Juniper Networks Inc.
• NetScout Systems Inc.
• Riverbed Technology LLC
• VMware Inc.
• Check Point Software Technologies Ltd.
• Palo Alto Networks Inc.
• Ciena Corporation
• Huawei Technologies Co. Ltd.
• F5 Networks Inc.
• Citrix Systems Inc.
• Infosys Limited
• Wipro Limited
• HCL Technologies Ltd.
• Tech Mahindra Pvt. Ltd.
• Tata Consultancy Services Ltd.
• Cognizant Technology Solutions Corporation
• Red Hat Inc.
• Splunk Inc.
• Proofpoint Inc.
• Symantec Corporation
What Are The Key Trends In The Networking Support Services Market?
• 5G implementation and IoT expansion
• Focus on enhancing customer experience
• Globalization and cross-border networking
• Green networking initiatives
• Addressing skills shortage and training needs
What Are The Segments Of The Global Networking Support Services Market?
• By Type: LAN-As-A-Service, WAN-As-A-Service
• By Deployment Type: On-Premise, Cloud
• By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
• By End-User Industry: Banking, Financial Services And Insurance (BFSI), IT And Telecommunication, Government And Public Sector, Healthcare And Life Sciences, Manufacturing, Retail And Consumer Goods, Transportation And Logistics, Other End-User Industries
Which Region Leads The Networking Support Services Market?
North America held the largest regional market share in the networking support service market in 2024. However, Asia-Pacific is set to become the fastest developing region during the forecast period. The report includes insights from Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Networking Support Services Market Global Market Report?
– Market Size Analysis: Analyze the Networking Support Services Market size by key regions, countries, product types, and applications.
– Market Segmentation Analysis: Identify various subsegments within the Networking Support Services Market for effective categorization.
– Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
– Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
– Market Contribution: Evaluate contributions of different segments to the overall Networking Support Services Market growth.
– Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
– Industry Challenges: Analyze challenges and risks affecting the Networking Support Services Market.
– Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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