The global network transformation market size was valued at USD 47.06 billion in 2023 and is projected to reach USD 854.69 billion by 2030, growing at a CAGR of 52.5% from 2024 to 2030. Market growth is being driven by increasing collaborations among industry players to develop and promote next-generation networking solutions.
The rising adoption of IT as a Service (ITaaS), Bring Your Own Device (BYOD) policies, and network virtualization is further fueling market expansion. Additionally, the growing demand for higher bandwidth and the urgent need to enhance existing networking infrastructure are expected to support this upward trend.
Network transformation focuses on rebuilding architecture based on data center-centric Information and Communication Technology (ICT) infrastructure, where information is stored, processed, and exchanged. Data centers enable seamless business transactions and service delivery while offering enterprises a platform to modernize IT infrastructure. This transformation allows organizations to operate in a cloud-controlled environment, ensuring faster, more efficient, and cost-effective data handling compared to traditional processes. It also enables energy-efficient data exchange and accelerates processing speed.
Strategic partnerships and collaborations among leading technology companies are significantly shaping market growth. Joint R&D initiatives, product rollouts, enhanced customer support, and shared expertise are accelerating industry expansion across multiple regions. For example, in June 2024, Tencent Cloud, the cloud business arm of Tencent, partnered with Nokia to support enterprises in Singapore and the Asia Pacific region in upgrading cloud and network infrastructure for the next phase of digital transformation.
Key Market Highlights:
- North America dominated the global market with a 33.6% revenue share in 2023.
- By components, the solutions segment accounted for the largest share at 67.9% in 2023.
- By enterprise size, large enterprises led the market in 2023.
- By end-use, the IT & Telecom segment held the highest revenue share in 2023.
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Market Performance:
- 2023 Market Size: USD 47.06 Billion
- 2030 Projected Market Size: USD 854.69 Billion
- CAGR (2024–2030): 52.5%
- North America: Largest market in 2023
- Asia Pacific: Fastest growing market
Prominent Companies & Market Dynamics:
The network transformation market is highly competitive, with key players adopting strategies such as product innovation, global collaborations, portfolio expansion, and government partnerships.
- NEC Corporation offers comprehensive network solutions, including planning, rollout, optimization, operations, energy efficiency, private networks, R&D, and consulting services.
- Cisco Systems, Inc. provides a wide range of transformation solutions driven by advancements in cloud, security, and next-generation technologies. The company focuses on delivering secure, flexible, and user-friendly connections across businesses, users, devices, and applications.
Key Companies:
- NEC Corporation
- IBM
- Juniper Networks Inc.
- Fujitsu
- Cisco Systems, Inc.
- Dell
- Telefonaktiebolaget LM Ericsson
- Ciena Corporation
- Intel Corporation
- Hewlett Packard Enterprise Development LP
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Conclusion
The global network transformation market is experiencing rapid growth, fueled by rising demand for next-generation networking solutions, cloud adoption, and virtualization technologies. With increasing collaborations among technology leaders, expanding data center infrastructure, and the growing need for secure, scalable, and energy-efficient networks, the market is set to achieve exponential expansion through 2030. Companies that invest in innovation, partnerships, and digital transformation will be best positioned to capitalize on emerging opportunities in this dynamic landscape.
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