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Converged Network Services Market Segmented By Vertical such as BFSI, IT, Telecom, Retail, Manufacturing with Component such as Hardware, Software and Services
Converge network services also known as media convergence provides data communication, video, and telephone services on a single network, aiding in convenience and flexibility which is difficult to achieve through separate infrastructures.
Network service providers earlier were using number of hardware, networks, and protocols to connect to servers, but with the aid of converged network services users can avail number of services such as internet browsing, texting, voice over internet, video conferencing etc. with the aid of a single infrastructure offering advantages including improved quality of service at a moderate cost and enhanced protection against malware.
Standardization on Ethernet, Wi-Fi, and TCP/IP aids the service network providers in integrating disparate vendors and products, making network management relatively easier for IT administrators.
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Converged network services offer a number of advantages such as low cost of services offered, lower investment involved in the implementation, lower maintenance cost etc. and these advantages are expected to drive the demand for converged network services. Other factors supporting the growth of converged network services include requirement to upgrade obsolete datacentres, growing cloud services, growing IoT market etc.
The major challenges faced by converged network services market includes managing the bandwidth allocation to increasing number of devices and applications, modernization of network infrastructure, complexities involved in integrating the legacy networks and devices, enhanced risk of disruption of services in case of network malfunction etc.
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Among various regions, converged network services market in North America region is expected to dominate during the forecast period because of region’s strong BFSI, IT, telecom, retail and manufacturing sector and the presence of major converged network services providers. North America region is expected to be followed by Western Europe and APEJ.
APEJ region is expected to drive the demand for converged network services market, supported by increasing demand for telecom services from countries with a high population including China and India and increasing penetration of internet services supported by increasing number of smartphones and mobiles.
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Some of the prominent players in the field of converged network services include Cisco Systems, Inc. (U.S.), Level 3 Communications, LLC (U.S.), International Business Machines (IBM) Corporation (U.S.), CloudGenix Inc. (U.S.), etc.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
