The next-generation network market is expected 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.
The growth of this market can be attributed to the
increase in public–private partnerships for next-generation network
developments, demand for high-speed services, and low operational cost. Demand
for faster connectivity, high-speed data transfer, and high responsive network
is growing continuously. All these demands are well addressed with the help of
next-generation network infrastructure. The continuous development of cellular
network has enabled users to experience faster data rates with low latency.
Demand for high-speed data services is primarily driven by the growing use of
services and applications by both consumer electronic devices and business
usage.
In addition, the rise in the number of smartphone
users and an increase in the average data volume per subscription require a
high-speed network with high bandwidth capable of handling huge data traffic. Next-generation network
technology is capable of offering sufficient bandwidth to support the
increasing data traffic.
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The next-generation network market has been
segmented on the basis of offering into hardware, software, and services. The
software held the highest growth rate; whereas hardware held the major share of
the NGN market during 2018–2023. Software focuses on making the network
responsive and flexible in terms of scaling up according to the network
requirement. It allows network operators to make changes quickly in their
network through a centralized control system according to the rate at which
data traffic increases or decreases.
Based on end user, the market has been segmented
into telecom service provider, internet service provider, and government. The
NGN market for internet service providers is expected to grow at the highest
CAGR from 2018 to 2023 owing to increasing demand for high-speed data services
and digitalization.
The next-generation network market is segmented on
the basis of application into internet video, IPTV & VOD, web data, file
sharing, and gaming. Emerging video-streaming services on TV and other
entertainment devices is expected to drive heavy data consumption in the
internet video application.
APAC led the overall next-generation
network market and accounted for the largest market share,
followed by North America. The NGN market in APAC is expected to grow rapidly
during the forecast period. Countries in APAC undertake aggressive initiatives
to transform their traditional network infrastructure to advanced NGN; as a
result, the NGN market in APAC is expected to grow at the highest rate. The NGN
would play an integral role in advanced technologies such as the Internet of
Things (IoT) and machine-to-machine communication (M2M), and other sectors such
as smart cities, as well as in industrial automation. This offers huge
potential for next-generation network connectivity and related infrastructure
to provide faster communication and simultaneous connection among different
devices.
High infrastructure cost is restraining the growth
of the next-generation network market. The NGN infrastructure is expected to
change the concurrent ways of communication. next-generation network exhibits
advanced features as compared with the previous generation. The NGN
infrastructure is in its nascent stage, and many companies and government
bodies are taking active participation in terms of investments and R&D
activities of this technology. Heavy investments are necessary to upgrade the
existing network to NGN.
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