According to new market research report “Network Optimization Services Market by Services, Application Type (Local Network Optimization, WAN Optimization, RAN Optimization, and Data Center Optimization), Deployment Type, Organization Size, Industry Vertical, and Region – Global Forecast to 2022”, The network optimization services market size is expected to grow from USD 4.78 Billion in 2017 to USD 9.08 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period.
Increasing number of branch offices and data centers is a major factor driving the growth of the network optimization market. Moreover, the increasing adoption of Wide Area Network (WAN) optimization and local network optimization by Small and Medium-sized Enterprises (SMEs) is expected to drive the network optimization services market.
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The rapid adoption of network optimization services, owing to a strong and well-established economy is expected to make North America the largest regional market.
North America consists of developed economies, such as the US and Canada. In this region, organizations are rapidly adopting and willing to invest in emerging technologies, such as smartphones and cloud platforms. North America has the first-mover advantage of adopting new technologies, such as a smartphones and cloud platform. Companies are willingly investing in North America. The factors driving the growth of the network optimization market in North America are stable economy, technology enhancements, and optimized infrastructure cost.
The manufacturing vertical is expected to gain a larger market share during the forecast period.
Manufacturing companies try to develop operational effectiveness and secure IT resources each time they find it to be feasible, so that a cost-effective infrastructure can be delivered. With the increase in manufacturing units, remote locations are expected to increase, which creates a potential market for network management solutions and services, resulting in the need for packaged solution provider for networks.
The large enterprises segment is expected to gain a larger market share during the forecast period.
Organizations with more than 1,000 employees are categorized as large enterprises. Such enterprises have a huge corporate network and many revenue streams. Large enterprises have their customers across various regions and possess high market shares, technical expertise, and effective business strategies. Large enterprises control a number of different systems at a higher level of complexity. The market size of network optimization services market is relatively high in case of large enterprises, as compared to SMEs. The solution vendors catering to large enterprises are increasing as large enterprises need to maximize its bandwidth and network capacity of their data centers and local networks, along with WAN optimization if the organizations has multiple branches spread across city.
The major vendors in the network optimization services market include Riverbed Technology (US), NetScout Systems (US), SolarWinds (US), Cisco (US), Huawei (China), Nokia Corporation (Finland), ZTE (China), InfoVista (Europe), Citrix (US), Circadence (US), FatPipe Networks (US), and Silver Peak (US).