Network optimization is a practice used to improve network performance. A variety of tools and techniques are used to monitor and improve network performance, such as global load balancing, packet loss monitoring, minimize latency, and bandwidth management. With the technological advancements in cloud computing services, network optimization is also deployed in the public internet and private data centers. Enterprises are focused on delivering secure, high-performance applications that ensure the highest quality of service to their end-users. Typically, there are two ways of measuring network performance, passive and active. The global network optimization market is anticipated to grow at a CAGR of 18.4% during the forecast period.
Top Driver: Demand in Industrial Enterprises and Expanding Office Branches & Data Centers
The network optimization market is expected to witness healthy growth during the forecast period owing to its immense importance in the industrial enterprise network management. The growth of the information technology is producing massive data, and therefore the companies are consuming larger network bandwidths. Failure in proper network optimization and continuous growth in data can add stress to the network architecture of the concerned environment or organization. Corporations widely opt for network optimization services across the globe due to the growing number of branch offices and data centers. Further, the growing practice of virtualization is also fueling the growth of the market.
Support and Maintenance to Make Crucial Contribution to Growth of the Market
Among technology segments of the global network optimization market, support and maintenance is predicted to show significant growth in future. On the basis of type the market is further segmented into Implementation, Consulting. The consulting segment is expected to witness a higher market share in the forecast period. On the basis of application, the market is segmented into Local networks optimization, WAN optimization, RAN optimization, Data center optimization. On the basis of end use the market is segmented into Banking, Financial Services, and Insurance, Telecom, Government and defense, Media and entertainment, Energy and utility, Healthcare and life sciences, Education.
Rising Adoption Of Emerging Technologies to Benefit North America Market
North America is anticipated to gain the highest revenue shares and is estimated to continue to dominate the market during the forecast period. North America is increasingly adopting emerging technologies, such as smartphones and cloud platforms. The increased growth drivers of the market include higher cloud deployments and the increased adoption of online service delivery. The organizations in this region have adopted inorganic growth strategies to strengthen their presence across the world which would boost the industry in the next few years. However, variation in performance over cloud and lack of enterprise expertise are hampering the growth of the market.
Players to Focus on Network Optimization Market
The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Riverbed Technology, NetScout Systems, SolarWinds, Cisco, Huawei, Nokia Corporation, ZTE, InfoVista, Citrix, Circadence, FatPipe Networks, and Silver Peak among others could be at the forefront of the competition in the global market.
Riverbed Technology: In October 2012, Riverbed Technology, the performance company, and OPNET Technologies, Inc., the leading provider of solutions for application and network performance management, today announced that Riverbed had entered into a definitive agreement to acquire OPNET for $43 per share in cash and stock, representing an equity value of $1 billion and an enterprise value of $921 million. The acquisition will enable Riverbed to extend its network performance management (NPM) business into the multi-billion dollar application performance management (APM) market. The combination of Cascade and OPNET will create a new force in the converged market for NPM and APM, with over $250 million in annualized revenue.
Huawei: In June 2020, Chinese multinational technology company had announced the launch of a new consulting brand, which aims to help telecoms players adapt to new technologies such as 5G.
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