Next-Generation Network Market Is Expected To Offer Substantial Growth Opportunities, Reaching $4793 Billion By 2029
What Is The Expected Valuation Of The Next-Generation Network Market In The Upcoming Years, And How Quickly Is It Set To Grow?
The next-generation network market size has grown strongly in recent years. It will grow from $33.12 billion in 2024 to $35.41 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increasing data consumption, demand for higher bandwidth, emergence of smartphones and mobile devices, regulatory changes.
The next-generation network market size is expected to see strong growth in the next few years. It will grow to $47.93 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to 5G rollout and adoption, internet of things (IoT) proliferation, edge computing integration, virtualization and software-defined networking (SDN), demand for low-latency applications. Major trends in the forecast period include increased network automation, growth of network slicing for customized services, expansion of private 5G networks, rise of network security as a service (SECaaS), convergence of telecommunications and IT infrastructure.
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Which Major Drivers Are Accelerating Expansion Within The Next-Generation Network Market?
The rising 5G penetration is expected to propel the growth of the next-generation network market going forward. 5G refers to the fifth generation of mobile network technology, offering faster data speeds, lower latency, increased capacity, and support for a wide range of applications and connected devices compared to previous generations. The penetration of 5G is due to the rising demand for high-speed connectivity, the emergence of new technologies, and competitive dynamics among telecommunications companies and mobile network operators. The rising influence of 5G technology accelerates developing and deploying next-generation networks to deliver advanced services, support emerging technologies, and drive innovation across various sectors. For instance, in September 2023, according to 5G Americas, a US-based industry trade organization, North America had 151 million 5G connections and 496 million LTE connections in the 2nd quarter of 2023 and is expected to reach 669 million by 2028. Therefore, the rising 5G penetration is driving the next-generation network market.
Which Segments Are Expected To Shape The Future Direction Of The Next-Generation Network Market?
The next-generation networkmarket covered in this report is segmented –
1) By Offering: Software, Hardware, Services
2) By Application: Internet, Video, File Sharing And Web Data, IPTV And Video On Demand, Gaming, Other Applications
3) By End User: Internet Service Providers, Telecom Service Providers, Government, Other End Users
Subsegments:
1) By Software: Network Management Software, Network Automation Software, Security Software, Analytics And Monitoring Software, Orchestration Software
2) By Hardware: Routers, Switches, Firewalls, Servers, Network Interface Cards (NICs), Optical Network Equipment
3) By Services: Professional Services (Consulting, Integration), Managed Services, Cloud Services, Support And Maintenance Services
Which Trend Shifts Are Redefining Opportunities In The Next-Generation Network Market?
Major companies operating in the next-generation network market are focused on developing innovative products with advanced technologies, such as HPE Aruba Networking Central, to increase their profitability in the market. HPE Aruba Networking Central is crucial in enabling next-generation networks to meet the growing demands for speed, reliability, and scalability in today's digital world. For instance, in April 2023, Hewlett Packard Enterprise, a US-based information technology company, introduced HPE Aruba Networking Central. HPE Aruba Networking Central is a cloud-native network management solution designed to simplify network operations and improve productivity for enterprise IT teams. It leverages artificial intelligence for IT operations (AIOps) to reduce manual tasks, allowing networking teams to focus on more strategic projects. The platform features an operator-centric design, time-travel capabilities for network recovery, multi-layer topology visualization, intelligent assurance indicators, and AI-powered insights for root cause analysis and recommendations.
Who Are The Companies Setting The Competitive Benchmark In The Next-Generation Network Market?
Major companies operating in the next-generation network market are Samsung Electronics Co. Ltd., Microsoft Corporation, AT&T Inc., Huawei Technologies Co. Ltd., IBM Corporation, Oracle Corporation, Cisco Systems Inc., Broadcom Inc., Infradata Group, NEC Corporation, Nokia Corporation, ZTE Corporation, Hewlett Packard Enterprise Development LP, Juniper Networks Inc., Ciena Corporation, Mavenir Systems Inc., Tata Communications Limited, AsiaInfo Technologies Limited, ADTRAN Inc., EXFO Inc., Ascom Holding AG, Extreme Networks, Inc., AVOTUS Corporation, TelcoBridges, TELES AG, KPN International B.V.
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Which Region Currently Accounts For The Largest Share Of The Next-Generation Network Market?
Asia-Pacific was the largest region in the next-generation network market in 2024. The regions covered in the next-generation network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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