According to the new market research report "Next-Generation Network Market By Offering (Hardware, Software, Services), Application, End User (Telecom Service Provider, Internet Service Provider, Government), and Geography (North America, Europe, Asia Pacific, RoW) - Global Forecast to 2023", published by MarketsandMarketsâ˘, the market to grow from USD 21.86 billion in 2018 to USD 32.81 billion by 2023, at a CAGR of 7.0% from 2018 to 2023.Demand for high-speed services, increase in public-private partnerships for NGN developments, and low operational cost are among the driving factors for the growth of the market.Request Free Sample Report:https://www.marketsandmarkets.com/requestsampleNew.asp?id=61867062Telecom service provider to hold major share of NGN market during forecast period Telecommunications companies are increasingly adopting NGN to meet the growing requirements for high-speed data services.
As the number of smartphone and tablet users increases day by day, demand for high-speed data services grows significantly.
Also, the rising trend of Voice over Internet Protocol promotes telecommunications companies to provide services pertaining to quality as well as the quantity of data.
Many companies in this industry proactively provide NGN products and services and are likely to transform traditional network to high-speed packet-based NGN.
Market for hardware to hold major share of NGN market from 2018 to 2023Â The major hardware devices required for NGN include routers, switches, and gateways.
To upgrade traditional network into NGN, the hardware needs to be replaced with advanced capabilities including huge data handling, compatible for software interface, and support legacy network.