Private Network Services Market: Analyzing Growth by focusing on Top Key Operating Vendors
With increase in the number of mobile devices globally, the volume of data has continued to rise significantly over the last few years. As per the whitepaper ‘Cisco Visual Networking Index: Forecast and Trends, 2017–2022,’ the global IP traffic is expected to reach 4.8 ZB per year by 2022 from 1.5 ZB per year in 2017. Moreover, the number of devices connected to an IP network is expected to increase to 3.6 networking devices per capita by 2022 from 2.4 networking devices per capita in 2017. Thus, demand for rapid and private networks continues to rise, augmenting the demand for private network services. Private network services are services provided by IT service providers for the management of their clients’ networks. Private network services include LAN/WLAN management, unified communications to network consulting services, and network implementation services. Private network services help end-users focus on their core competencies and thereby, save on expenses required to maintain and build a network. Also with the introduction of the Managed network services, customers pay only for what they use, thereby saving lot of time and money in hiring and training specialist IT technicians. Also it helps in creating a constant vigilance on the Private Network, thus saving on the downtime by locating problematic areas in time and acting swiftly.
Major drivers of the global private network services market include reduction in the deployment cost and decline in downtime costs. Private network service providers help in offering rapid, flexible, and secure access to the infrastructure, content, and applications. These provides help in creating a secure line to connect various multi-site businesses over a customized network that is both cloud enabled and voice ready. With the help of private network service providers, end-users are enabled to create a highly reliable, custom-engineered and tailored network for meeting specific business purposes. Private network services allow users to work uninterruptedly from a remote location even during the times of disaster. These networks are safe, secure, and completely private from the public Internet and shared multi-client networks.
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The global private network services market can be segmented based on network type, enterprise size, end-use industry, and region. In terms of service type, the private network services market can be categorized into managed services and professional services. The professional services segment can sub-classified into consulting, integration & implementation, and support services. Support services include monitoring, alerting, automatic ticket escalation, remote diagnostics, and other services. In terms of network type, the private network services market can be segmented into wide area network (WAN), large area network (LAN), virtual private network (VPN), enterprise private network (EPN), storage area network (SAN), and others. Based on enterprise size, the private network services market can be divided into small enterprises, medium enterprises, and large enterprises. In terms of end-use industry, the private network services market can be classified into telecommunication & IT, retail & e-commerce, government, media & entertainment, transportation & logistics, health care, banking, financial services and insurance (BFSI), manufacturing, and others. Based on region, the global private network services market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Key players operating in the global private network services market are TCS Limited, Fujitsu Ltd., Cisco Systems, Inc., IBM Corporation, Verizon Communications Inc., Alcatel Lucent S.A, Microsoft Corporation, AT&T Inc., Dell EMC (EMC Corporation), HP Development Company LP, Dell Inc., Rackspace Inc., and Deutsche Telekom AG. These companies invest considerably in research and development activities to incorporate new technologies in their solutions and develop new products. Additionally, these players engage in strategic partnerships with other players to expand their presence and gain market share in different regions across the globe.