Network Engineering Services Market Set for Exquisite Growth with Globally Leading Players
Network engineering services facilitate organizations in technology assessment, planning, design, and deployment of network models. The network engineering services market is expected to grow significantly, owing to the growing demand for high speed and large network coverage and a rapid increase in the number of Internet of Things (IoT)- enabled devices. MarketsandMarkets forecasts the network engineering services market size to grow from USD 34.35 Billion in 2017 to USD 54.69 Billion by 2022, at a CAGR of 9.8% from 2017 to 2022.
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The network engineering services ecosystem comprises several vendors, Accenture (Ireland), Ericsson (Sweden), IBM (US), Huawei (China), Juniper Networks (US), Dell (US), Cisco (US), Fujitsu (Japan), Aviat Networks (US), Tech Mahindra (India), and Mphasis (India). Players in this market have embraced different strategies to extend their worldwide presence and increase their market share. New product launches & upgradations, partnerships/collaborations, agreements, and business expansions are some of the strategies adopted by the market players to enhance their product and service offerings and expand their customer base.
Major companies such as Cisco and Ericsson have adopted the strategy of partnerships/collaborations and introduced new services to expand their service portfolio and strengthen their market position in the network engineering services market. Cisco is one of the leading providers in this market. The company caters to a wide clientele as well as organizations operating in financial services, healthcare, manufacturing, government, and other sectors through its innovative products and solutions. The company’s long-term strategy is focused on expanding its partner network through agreements and collaborations with major players in the market to strengthen its portfolio and serve a large customer base worldwide. In December 2017, Cisco Systems partnered with Digicel, a telecommunication services provider, to fast-track digital transformation and expand its presence in the Caribbean and Central American regions.
Ericsson is another major provider of network engineering services. The company offers a comprehensive portfolio of services in the market. It focuses on both inorganic and organic growth strategies to tap into the network engineering services market. In October 2017, Ericsson signed an agreement with Etisalat. The contract would enable Ericsson to expand its presence in Egypt through transforming the core network and business support systems.
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