Next Generation Network (NGN) Equipment Market Dynamics, Base Estimates & CAGR Calculation by 2024
8 Jan 2019 – The global next generation network (NGN) equipment market is anticipated to grow at a CAGR of over 11% over the forecast period. Increasing preference to rising profit margin and customer satisfaction in telecom service providers are anticipated to drive the next generation network equipment market. The concept of NGN has been initiate and designed for traditional telecom operators to become more than ISP and to operate with the customer needs driven model in order to survive the challenges.
These services have become popular among service providers for the reason such as the need to deal with customer service and retention, and integration with new IP-based frameworks. NGN provides telecom service providers with tools that would intensify customer experience and loyalty.Depending on the type of customer, The NGN customer terminal equipment can be an end user terminal device, a gateway for a corporate network, a gateway for a home network or a gateway for a vehicle LAN. NGN customer terminal equipment will be ICT-enabled i.e. services are IT based and connectivity CT based, but with the capability to simulate or emulate the traditional telecom communication services. For individuals, the customer terminal equipment comprises the end user device or home device. For instance legacy terminals, SIP phones, soft-phones such as a programmed phone on a PC, IP phones with text capabilities, set top boxes, multimedia terminals, and PCs.For an enterprise, the customer terminal equipment is a gateway which is capable of providing the services being provided today by integrated PBX and company webs separately. For instance, short number dialing, hunting list, webinar, on-line exhibition. For home networks, the customer terminal equipment comprises the home gateway and home devices which are capable of providing the services being provided today by telephone and home webs separately, for instance short number dialing for each family member, and family news.
Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry-reports/next-generation-network-ngn-equipment-market/request-sample
Rising demand for new advanced technology for supporting services such as M2M and cloud is expected to propel the growth of the market over the forecast period. Growing number of mobile subscribers are putting further pressure on these systems; thus the network needs to be more scalable, agile, and diversified. 5G will empower new business opportunities by adopting diverse ecosystems in all dimensions.
Browse Full Research Report @
Telecom service industry depends mostly on NGN equipment’s for providing enhanced value proposition. Telecom services providers have been investing in these equipment’s to differentiate their service offering in heavily competitive market and drive lucrative revenue growth.Validation of telecom service subscribers through advanced identifiers and hot provisioning will be major drivers for these equipment’s owing to increasing importance of data security and privacy. Customer demand, cost reduction, and competition are the key factors driving telecom sector to evaluate their business support system-operation support system gap and increase their spending to close it.
Increasing requirement of service quality improvement, service offering expansion, and faster market time for telecom service market might shape the necessity for these systems over the forecast period. Growing adoption of convergent billing systems, rising demand for customer care services, and fast growing telecom industry are among the key factors expected to drive global next generation network equipment market. Most crucial challenge confronting telecom operators is optimization of these processes, platforms, and systems. Difficulties in integration of legacy systems with these advanced systems and the regulatory issues may hamper market growth over the forecast period. Operations support systems offer assurance, service fulfillment, and network monitoring & design. Business support systems can be further sub-segmented into order management, revenue management, product management, and customer management. Service assurance and service fulfillment solutions are anticipated to NGN equipment market.
Geographically, the global new generation network equipment market is segmented into North America, Asia Pacific, Latin America, Middle East and Africa, and Europe. Asia Pacific is expected to be key growth region over the forecast period owing to existence of large customer base and evolving telecom industry. Middle East & Africa and Latin America are also anticipated to witness substantial growth over the forecast period. The key market players dominating the global market for next generation network equipment include Alcatel Lucent S.A., Huawei, Hewlett-Packard Company, Formula Telecom Solutions, AT&T Inc., Amdocs, Cisco System, Cerillion, Elitecore Technologies, and comptel, while other prominent players include ZTE, WebNMS, Tech Mahindra Limited, IBM Corporation, Oracle Corporation, OpenCloud, Mycom, Tata Consultancy Services Limited, and LohNet Systems.
Mergers, acquisitions, and strategic alliances are the key strategies by top market players to boost their service offerings. Vendors also emphasis on providing niche services and have strong support teams in order to sustain their market shares. In 2014, Huawei, Ericsson and Nokia Siemens & Network formed a strategic alliance to offer OSS interoperability, which will help operators reduce costs. In 2013, Ericsson acquired Telcocell and Thailand-based TelOSS consulting, while Amdoc acquired Celicite to increase its product portfolio further into network software market.
About Million Insights:
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.