Network Engineering Services Market Summary
As per Market Research Future Analysis, the Global Network Engineering Services Market was valued at USD 38.40 billion in 2023 and is projected to reach USD 86.19 billion by 2032, growing at a CAGR of 9.40% from 2024 to 2032. Key drivers include increasing investments in IoT devices and the trend of connected wearables. The market is segmented by type into network assessment, design, and deployment, with network design leading in revenue share due to the growing demand for consumer electronic products. The banking sector is expected to dominate the verticals due to digitalization and open banking trends. North America holds the largest market share, followed by Europe and Asia-Pacific, which is anticipated to grow at the fastest rate.
Key Market Trends & Highlights
The network engineering services market is experiencing significant growth driven by technological advancements and increasing demand for connectivity.
- Market Size in 2023: USD 38.40 billion
- Projected Market Size by 2032: USD 86.19 billion
- CAGR from 2024 to 2032: 9.40%
- Largest Regional Market: North America
Market Size & Forecast
2023 Market Size | USD 38.40 billion |
2024 Market Size | USD 42.01 billion |
2032 Market Size | USD 86.19 billion |
CAGR (2024-2032) | 9.40% |
Major Players
Key players include Cisco, IBM, Ericsson, Huawei, Juniper Networks, HCL Technologies, Infosys, NTT Global Networks, and Accenture.