Intelligent Network Market to Reach $34.1 Billion, Globally, by 2031 at 22.6% CAGR: Allied Market Research
Advancements in artificial intelligence and machine learning, rise in demand for cloud-based services, and adoption of intelligent networks in telecommunication drive the growth of the global intelligent network market.
PORTLAND, Ore., March 15, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Intelligent Network Market by Application (Information Cognition, Traffic Prediction and Classification, Resource Management and Network Adoption, Performance Prediction and Configuration Extrapolation), by Enterprise Size (Large Enterprise, Small and Medium Enterprise), by End User (Telecom Service Providers, Cloud Service Providers, Managed Network Service Providers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." according to the report, the intelligent network market generated $4.6 billion in 2021 and is estimated to reach $34.1 billion by 2031, witnessing a CAGR of 22.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Drivers, Restraints, and Opportunities
Advancements in artificial intelligence and machine learning, rise in demand for cloud-based services, and adoption of intelligent networks in telecommunication drive the growth of the global intelligent network market. However, high deployment costs and cybersecurity issues, and complex integration hinder the market growth. Furthermore, the widespread deployment of 5G networks is expected to create lucrative opportunities in the industry.
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The information cognition segment to maintain its dominance during the forecast period
By application, the information cognition segment held the highest share in 2021, holding nearly half of the global intelligent ntwork market revenue, and is projected to maintain its dominance by 2031. This is due to the increase in high-capacity hotspots, rise in data, low latency, low-power huge connections, and high dependability. The traffic prediction and classification, on the other hand, would showcase a noteworthy CAGR of 26.1% during the forecast period, owing to a change in traffic patterns.
The large enterprise segment to rule the roost during the forecast period
Based on enterprise size, the large enterprise segment accounted for more than three-fifths of the global intelligent network market revenue in 2021 and is projected to rule the roost by 2031. The growth is attributed to the need for intelligent network solutions for a secure and efficient system. However, the small and medium enterprise segment would display the fastest CAGR of 24.4% from 2022 to 2031, owing to their cost-effective services.
The telecom service providers segment held the lion's share in 2021
Based on end user, the telecom service providers segment held the highest share in 2021, holding more than two-fifths of the global intelligent network market revenue in 2021, due to rise in the number of subscribers and to provide clients with efficient systems. On the other hand, the cloud service providers segment, is expected to dominate market in terms of revenue during the forecast period, also the same segment would site the fastest CAGR of 26.2% from 2022 to 2031, owing to rise in the adoption of cloud technology and work-from-home policies by enterprises.
North America held the major share in 2021
Based on region, North America accounted for the highest share in 2021, holding more than one-third of the global intelligent network market revenue. The growth of market is driven by infrastructure development and technology adoption in countries like U.S. and Canada. However, the market in Asia-Pacific is expected to rule the roost in terms of revenue during the forecast period. Also, the same region would portray the fastest CAGR of 26.5% from 2022 to 2031. Asia-Pacific countries are expected to adopt a high rate owing to the growing digital and economic transformation of the region.
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Leading Market Players-
The report analyzes these key players in the global intelligent network market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.
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