Next-Generation Network Equipment Market Poised for Growth, Expected to Reach $48.24 Billion by 2028
Next Generation Network Equipment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON, UK, June 25, 2024 /EINPresswire.com/ -- The next-generation network equipment market has seen robust growth in recent years, with projections indicating continued expansion. Starting from $32.72 billion in 2023, the market is set to reach $35.32 billion in 2024, growing at a compound annual growth rate (CAGR) of 7.9%. This growth trajectory is driven by increasing demand for high-speed connectivity, proliferation of connected devices, evolving communication standards, growing data traffic, and the imperative for enhanced network security.
Rising Demand for Advanced Communication Infrastructure Drives Market Growth
The next-generation network equipment market is expected to continue its strong growth, reaching $48.24 billion by 2028, with a CAGR of 8.1%. This growth is fueled by the deployment of 5G networks, the rise of virtualization and software-defined networking (SDN), demand for low-latency applications, network automation, and the need for scalable and flexible network infrastructure. Major trends include the proliferation of edge computing, adoption of open radio access network (RAN), growth of multi-access edge computing (MEC), emergence of network-as-a-service (NAAS) models, and utilization of artificial intelligence for network management.
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Key Players and Market Innovations
Major companies such as Samsung Electronics, Verizon Communications Inc., Huawei Investments and Holding Co. Ltd., and Cisco Systems Inc. are at the forefront, focusing on developing advanced solutions to maintain competitiveness. For instance, Amdocs recently launched the Amdocs Network Inventory, an AI-driven, cloud-agnostic platform designed to enhance network operations and accelerate time-to-market for service providers.
Market Segments
• By Type: High-Fiber Copper Cables, Broadband Wireless, Broadband Devices Over Power Lines
• By Applications: File Sharing, Internet Video, IPTV (Internet Protocol Television) And Video on Demand, Gaming, Web Data
• By End-Users: Internet Service Provider, Telecom Service Provider, Government, Other End-Users
Regional Insights: North America Leading, Asia-Pacific Fastest-Growing
North America dominated the next-generation network equipment market in 2023, driven by technological advancements and early adoption of new technologies. Meanwhile, Asia-Pacific is expected to witness the fastest growth during the forecast period, fueled by increasing investments in digital infrastructure.
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Next Generation Network Equipment Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Next Generation Network Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on next generation network equipment market size, next generation network equipment market drivers and trends, next generation network equipment market major players, competitors' revenues, market positioning, and market growth across geographies. The next generation network equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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