Market Trends of Intelligent Network Industry
This section covers the major market trends shaping the Intelligent Network Market according to our research experts:
Telecom Service Provider to Witness Significant Growth
- The emergence of 5G networks is expected to revolutionize the domain of various broadband services and is expected to empower connectivity across multiple end-user verticals. The primary drivers responsible for the growth of the market are the increase in mobile subscriptions, enterprise usage, online streaming of video content, strengthening 5G infrastructure, and various IoT applications utilizing 5G.
- 5G technology is also expected to unleash a massive IoT ecosystem that would allow networks to serve billions of connected devices. For Instance, according to Ericsson's Mobility Report of June 2019, More than 10 million 5G mobile subscriptions are anticipated globally by the end of 2019. This is indicative of the fact that the market is poised to grow throughout the forecast period.
- Moreover, in Feb 2020, EXFO Inc., which is one of the prominent vendors in the communications industry's test, monitoring, and analytics domain, launched Nova Adaptive Service Assurance (Nova A|SA), which is the first intelligent automation platform that will enable the mobile network operators to deliver ultra-reliable, high-quality service experience in a 5G world.
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North America is Expected to Hold a Significant Market Share
- The North American region is expected to hold a significant market share of the market during the forecast period. This is primarily owing to the increasing adoption of intelligent networking solutions in the region that is driven by the growth of advanced technologies, such as analytics, deep learning, and network virtualization.
- The increase in the demand for advanced technologies, such as machine-to-machine communication, connected cars, and artificial intelligence is highest in the region as compared to other regions, hence it is anticipated to offer massive opportunities for the 5G network thereby driving the market.
- Cloud-based enterprise applications are also thriving in the region. The cloud-based solutions depend on internet connectivity to function in the hosted environment, with 5G enabling much faster internet speed, it will further enhance the connectivity experience.
- Moreover, According to Ericsson, by the end of 2025, the 5G mobile subscription in the region are expected to reach 318 million that is more than 80% penetration of all the mobile subscriptions in the North America region, which would further fuel the demand for intelligent networks.
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