Among various regions, converged network services market in North America region is expected to dominate during the forecast period because of region’s strong BFSI, IT, telecom, retail and manufacturing sector and the presence of major converged network services providers. North America region is expected to be followed by Western Europe and APEJ.

New York, NY -- (SBWire) -- 04/09/2018 --Converged Network Services: Introduction

Converge network services also known as media convergence provides data communication, video, and telephone services on a single network, aiding in convenience and flexibility which is difficult to achieve through separate infrastructures. Network service providers earlier were using number of hardware, networks, and protocols to connect to servers, but with the aid of converged network services users can avail number of services such as internet browsing, texting, voice over internet, video conferencing etc. with the aid of a single infrastructure offering advantages including improved quality of service at a moderate cost and enhanced protection against malware. Standardization on Ethernet, Wi-Fi, and TCP/IP aids the service network providers in integrating disparate vendors and products, making network management relatively easier for IT administrators.

Converged Network Services: Drivers and Challenges

Converged network services offer a number of advantages such as low cost of services offered, lower investment involved in the implementation, lower maintenance cost etc. and these advantages are expected to drive the demand for converged network services. Other factors supporting the growth of converged network services include requirement to upgrade obsolete datacentres, growing cloud services, growing IoT market etc.

The major challenges faced by converged network services market includes managing the bandwidth allocation to increasing number of devices and applications, modernization of network infrastructure, complexities involved in integrating the legacy networks and devices, enhanced risk of disruption of services in case of network malfunction etc.

Global Converged Network Services: Market Segmentation

Global converged network services market can be divided into three segments, based on vertical, component, and region.

Segmentation on the basis of Vertical for Converged Network Services Market:

The major segments of converged network services market on the basis of vertical include:

BFSI
IT
Telecom
Retail
Manufacturing
Others

Segmentation on the basis of Component for Converged Network Services Market:

The major segments of converged network services market on the basis of the component include:

Hardware
Software
Services

Segmentation on the basis of Region for Converged Network Services Market:

The major segments of converged network services market on the basis of the region include:

Asia-Pacific excluding Japan
The Middle East and Africa
Western Europe
North America
Eastern Europe
Latin America
Japan

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Global Converged Network Services: Regional Trend

Among various regions, converged network services market in North America region is expected to dominate during the forecast period because of region's strong BFSI, IT, telecom, retail and manufacturing sector and the presence of major converged network services providers. North America region is expected to be followed by Western Europe and APEJ.

APEJ region is expected to drive the demand for converged network services market, supported by increasing demand for telecom services from countries with a high population including China and India and increasing penetration of internet services supported by increasing number of smartphones and mobiles.

Global Converged Network Services: Competitive Landscape

Some of the prominent players in the field of converged network services include Cisco Systems, Inc. (U.S.), Level 3 Communications, LLC (U.S.), International Business Machines (IBM) Corporation (U.S.), CloudGenix Inc. (U.S.), etc.