According to the new market research report "Next-Generation Network Market By Offering (Hardware, Software, Services),
Application, End User (Telecom Service Provider, Internet Service Provider,
Government), and Geography (North America, Europe, Asia Pacific,
RoW) - Global Forecast to 2023",
published by MarketsandMarkets™, the market to grow from USD 21.86 billion in 2018 to USD 32.81 billion by 2023, at a CAGR of 7.0% from
2018 to 2023.
Demand for high-speed services, increase in
public-private partnerships for NGN developments, and low operational cost are
among the driving factors for the growth of the market.
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Telecom
service provider to hold major share of NGN market during forecast period
Telecommunications
companies are increasingly adopting NGN to meet the growing requirements for
high-speed data services. The exponential growth in IP and mobile data traffic
has been the major reason for the increasing adoption of NGN in the
telecommunications industry. As the number of smartphone and tablet users
increases day by day, demand for high-speed data services grows significantly.
Also, the rising trend of Voice over Internet Protocol promotes
telecommunications companies to provide services pertaining to quality as well
as the quantity of data. Many companies in this industry proactively provide
NGN products and services and are likely to transform traditional network to
high-speed packet-based NGN.
Market
for hardware to hold major share of NGN market from 2018 to 2023
The
major hardware devices required for NGN include routers, switches, and
gateways. To upgrade traditional network into NGN, the hardware needs to be
replaced with advanced capabilities including huge data handling, compatible
for software interface, and support legacy network. The growth for hardware
offering is primarily attributed to the rise in data traffic in networks and
increase in virtualization and technological advancement to reduce OPEX.
Moreover, technological advancements and growing IoT and cloud-based services
are expected to create opportunities for the NGN market.
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APAC
to hold major share of NGN market from 2018 to 2023
The
growth is attributed to the increasing network upgrade activities in APAC and
growing public-private partnerships to offer high-speed data connectivity. APAC
consists of the highest number of mobile subscribers, and the number is
expected to grow at a faster rate in the coming years. APAC is a diversified
region with a range of countries moving toward digital transformation. The NGN
market, including 4G, is at a growing stage in APAC driven by a large number of
mobile subscribers and huge demand for high-speed data connectivity.
Cisco (US), Huawei
(China), ZTE (China), Ericsson (Sweden), Nokia (Finland), Juniper Network (US), NEC Corporation (Japan), Samsung Electronics (South
Korea), IBM (US), Ciena Corporation (US), Hewlett Packard Enterprise
(US), AT&T (US), ADTRAN (US), TELES (Germany),
KPN International (Netherlands), Infradata (Netherlands), PortaOne (Canada),
TelcoBridges (Canada), CommVerge Solutions (Hong Kong), and Extreme Networks (US) are among the
major players in the NGN market.
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