Network configuration allows maximum efficiency of software and hardware, which is required for clear transmission of data to all the involved locations. This data could include audio, video, or any other files of information. Different types and sizes of networks require different types of configurations. As the dependency of organizations and the size of the networks grow, there is a constant need for powerful technologies and complex devices to manage them. Increasing pressure network directly influences performance and downtime of the network. Powerful configuration could resolve these issues. Rising demand is a strong factor driving the global network configuration market.
Segmentation in Network Configuration Industry
Researchers categorize the global industry for network configuration technologies into various segments. These segments provide information about the prevailing market trends, opportunities, challenges, and forecasting reports. The industry is segmented on the basis of the types of components, end users, modes of deployment, industrial verticals and geographic demands. Following are the details about the sub-segmentation in the industry:
- Components: Software and services
- End Users: Small and medium businesses (SMBs) and large organizations
- Deployment: On demand and on premise
- Verticals: BFSI, healthcare, IT and telecom, education, energy, government, etc.
- Geography: Europe, Latin America, North America, Middle East and Africa, and Asia Pacific
Future Prospects for Businesses
The laborious, costly, and intensive proceedings of network configuration of the past are replaces with modern technologies and handling methods. These methods have not only eased the proceedings but they have also reduced the possibilities of human errors. As a result, more and more organizations are resorting to the use of these methods. Increasing adoption and demand for highly efficient technologies from different business verticals are driving the industry ahead. Keen interest from emerging markets is creating strong opportunities for growth and development for the established market players.
Latest market research reports suggest that the global network configuration market is expected to maintain a healthy CAGR of over 7% for the next few years to come (from 2014 to 2019). At the projected compound annual growth rate, the market is set to witness steady growth, which is a great sign for the existing businesses in the industry. At the estimated CAGR, the network configuration and change management market will cross $1,368.2 million by the end of 2019. As per the latest reports, the market is worth $965.0 million in 2014. North America will dominate the global market until 2019.