Next Generation Network Market
Next Generation Network Market was valued US$ 31.12 Bn in 2017 and is estimated to reach US$ 32.14 Bn by 2026 at a CAGR of about 7.5 % during a forecast. The next generation network equipment industry is anticipated to rise at a significant rate over the forecast period. Increase in preference to rising profit margin and customer satisfaction in telecom service providers are anticipated to drive industry growth over the forecast period.
Next generation network provides interoperability by means of open interface between layers of core network architecture. Rapid technological innovation is a major factor which is driving the growth in the telecommunication industry. Next generation network offers several features to support data and voice communication services that encourage adoption of advanced services among consumers. This factor is anticipated to positively impact the next generation network equipment market during the forecast period. Next generation network technology is capable of offering sufficient bandwidth to support the increase in data traffic.
Next generation network market is segmented into offering, application, end-user, and Region. On the basis of an offering, the major hardware devices required for the next-generation network include routers, switches, and gateways.
The growth for hardware offering is mainly attributed to the rise in data traffic in networks and the increase in virtualization and technological advancement to reduce OPEX. The software focuses on making the network responsive and versatility in terms of scaling up according to the network requirement. It allows network operators to make changes instantly in their network through a centralized control system according to the rate at which data traffic increases or decreases.
Telecom service providers are making an investment in these tools to distinguish their service offering in a competitive market and drive profitable revenue growth. Authentication of telecom service providers subscribers through non-traditional identifiers and hot provisioning will be key drivers for these tools owing to the increase in the importance of data privacy and security. In terms of region, Asia Pacific is
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