The network transformation market was expected to reach at US$ 19.27 billion in 2021 and it is expected to grow at a CAGR of 40.6% between 2022 and 2028. The telecommunication industry has been profoundly growing over the past decade, and network transformation is not new to the industry. Growing competitiveness among telecom operators have forced enterprises to risk short-term advantage for seizing untapped growth potential. The evolution of digital-native companies, offering disruptive models of service delivery, has been strongly promoting competitiveness. Hence, telcom operators started to adopt network transformation for maintaining parity with competitors. These factors have been strongly catalyzing network transformation market growth. Adoption of machine learning (ML), artificial intelligence (AI), and big data have further fueled the network transformation market. Furthermore, the advent of Open RAN (ORAN) has been further revolutionizing the industry. Due to its vendor agnostic nature, the cost of network deployment can be expected to come down significantly, which can again be expected to promote network transformation market growth, since it will attract more enterprises to undertake network transformation. Combination of all such factors have been fueling the network transformation market growth.

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Businesses are rapidly embracing significant network technologies to support business initiatives and gain a competitive advantage. The growing emphasis of organizations on creating a digital workplace with minimum network downtimes has become a major driving factor for network transformation market. The digital transformation uses technologies to create new or modify existing business processes and customer experiences to meet the ever-changing business environment. Digital transformation has common goals, such as improving efficiency, adding value, and promoting innovation. As companies are increasingly adopting digital transformation to deliver better customer experiences and compete more effectively, there is a growing need for transformation of network that support such modernization of information technology (IT) within different enterprises. This parameter has been bolstering the network transformation market in the current scenario.

The Innovative Key Players Are :

• Cisco Systems, Inc.
• IBM Corporation
• Juniper Networks, Inc.
• Huawei Technologies Co., Ltd.
• Telefonaktiebolaget LM Ericsson
• NEC Corporation
• Dell EMC
• Intel Corporation
• Fujitsu Ltd.
• Hewlett Packard Enterprise

The SDN & NFV (Software Defined Network & Network Functions Virtualization) segment held the largest market share in 2021. Software-defined wide area network (SD-WAN) has been present for over a decade now, and it definitely provides various advantages over traditional WAN. SD-WAN is often utilized as a platform for delivering additional cloud services such as security services, secure remote access, and multi-cloud connectivity. Several enterprises are considering SD-WAN over private leased lines and multi-protocol label switching (MPLS). Such factors are promoting network transformation market growth. NFV allows for virtualization of network appliance hardware, thus allowing organizations to reduce expenditure on inhouse IT infrastructure. Several macroeconomic factors across the globe have created a severely hostile environment for businesses. The pandemic caused severe disruptions, which led to huge losses for several industry verticals. With respect to such factors, enterprises are adopting different measures to remain competitive by reducing capital expenditure. Hence, enterprises are preferring economical and flexible expenses while focusing on core business. With decreasing lifecycle of electronic devices and intensifying competition, companies tend to focus more on core technologies, which directly affect their business, rather than managing in-house infrastructure. Such factors have been promoting the growth of this segment, and in turn boosting the network transformation market growth.

Digital transformation is boosted by factors such as migration to the cloud and rapid growth in data generation. Companies have continually migrated their workloads to the cloud for better flexibility and workload portability. Hence, the public cloud is becoming an increasingly important asset for a company’s IT strategy. In 2021, enterprises contributed to creating, capturing, and replicating about 46 zettabytes of data. Most enterprises cannot derive valuable business insights from such huge amounts of generated data. Artificial intelligence (AI) and machine learning (ML) can be utilized for harnessing meaningful insights from such data; however, for doing so, companies first need to address certain critical aspects, including multicloud data management, data privacy, and data governance. To attend to all such factors and avail the advantages of such advanced technologies, transformation of network is becoming the priority for most enterprises. Several major enterprises (e.g., Cargill, P&G, and Mercedes Benz) from different industry verticals have been availing digital and network transformation for improving business processes. The presence of such large well-established players with significant high demand for network transformations help the network transformation market players to design and develop newer solutions and services and offer the same at competitive prices. This drives the network transformation market.

Answers that the report acknowledges:

• Market size and growth rate during forecast period.
• Key factors driving the Network Transformation Market.
• Key market trends cracking up the growth of the Network Transformation Market.
• Challenges to market growth.
• Key vendors of Network Transformation Market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Network Transformation Market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.

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