Next-Generation Network Market Size, Share And Growth Analysis For 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 (NGN) market has witnessed robust growth in recent years, driven by technological advancements and increasing demand for enhanced network capabilities. According to recent data, the market size is projected to grow from $30.31 billion in 2023 to $33.12 billion in 2024, at a compound annual growth rate (CAGR) of 9.3%. This growth is attributed to factors such as rising data consumption, higher bandwidth demands, proliferation of smartphones and mobile devices, and regulatory changes.

Rising 5G Penetration Driving Market Expansion
The next-generation network market is expected to continue its strong growth trajectory, reaching $46.07 billion by 2028, with a CAGR of 8.6%. This forecast growth is driven by the global rollout and adoption of 5G technology, integration of internet of things (IoT), edge computing, virtualization, and software-defined networking (SDN). Key trends shaping the market include increased network automation, expansion of private 5G networks, growth of network slicing for customized services, rise of network security as a service (SECaaS), and convergence of telecommunications and IT infrastructure.

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Major Players and Market Trends
Leading companies in the next-generation network market, such as Samsung Electronics Co. Ltd., Microsoft Corporation, and Huawei Technologies Co. Ltd., are focusing on innovation to enhance their market position. For example, Hewlett Packard Enterprise introduced HPE Aruba Networking Central, a cloud-native network management solution leveraging artificial intelligence for IT operations (AIOps) to streamline network operations and enhance productivity.

Market Segments
Offering:
• Software
• Hardware
• Services
Application:
• Internet
• Video
• File Sharing And Web Data
• IPTV And Video On Demand
• Gaming
• Other Applications
End User:
• Internet Service Providers
• Telecom Service Providers
• Government
• Other End Users

Asia-Pacific Leading the Market
Asia-Pacific emerged as the largest region in the next-generation network market in 2023 and is expected to maintain its leadership position throughout the forecast period. The region's dominance is driven by rapid technological advancements, increasing adoption of digital transformation strategies, and supportive government initiatives.

Access the complete report for an in-depth analysis of the global next-generation network market: https://www.thebusinessresearchcompany.com/report/next-generation-network-global-market-report

Next-Generation Network 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 Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on next-generation network market size, next-generation network market drivers and trends, next-generation network market major players, competitors' revenues, market positioning, and market growth across geographies. The next-generation network 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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