The global next-generation network equipment market is anticipated to grow at a significant rate over the forecast period. Increasing preference for rising profit margin and customer satisfaction in telecom service providers are expected to drive industry growth over the forecast period. The concept of NGN has been initiated and designed for traditional telecom operators to become more than ISP and to operate with the customer needs to be driven model to survive the challenges. This factor is expected to have a positive impact on the market over the next seven years.
These services have become popular among service providers on account of the growing need to deal with customer service and retention, and integration with new IP-based frameworks. NGN has been offering telecom service providers tools that are expected to intensify customer experience and loyalty.
Depending on the type of customer, the NGN customer terminal equipment is employed as 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 devices such as legacy terminals, SIP phones, softphones including programmed phones 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 that is capable of providing services by integrated PBX and company webs separately. For instance, short number dialing, hunting list, webinar, online exhibition.
For home networks, the customer terminal equipment comprises the home gateway and home devices which are capable of providing services by telephone and home webs separately, for instance, short number dialing for each family member, and family news.
Rising demand for new advanced technology for supporting services such as M2M and cloud is expected to propel next-generation network equipment market growth over the forecast period. A growing number of mobile subscribers have been 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 areas which are expected to have a positive impact on the market over the forecast period.
The Telecom service industry depends mostly on NGN equipment for providing an enhanced value proposition. Telecom services providers have been investing in this equipment to differentiate their service offering in the massively competitive market and drive revenue growth.
Validation of telecom service subscribers through advanced identifiers and hot provisioning will be primary drivers for these equipment owing to the increasing importance of data security and privacy. Customer demand, cost reduction, and competition are key factors driving the telecom sector. These factors enable consumers to evaluate their business support system and operation support system gap and increase their spending to close it.
Increasing requirements for service quality improvement, service offering expansion, and faster market time for the 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 the fast-growing telecom industry are among the key factors expected to drive the global next-generation network equipment market over the next seven years.
The most crucial challenge confronting telecom operators is the optimization of these processes, platforms, and systems. Difficulties in the integration of legacy systems with these advanced systems and increasing 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 fuel the NGN equipment market over the next seven years.
Geographically, the global next-generation network equipment market is segmented into North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe. The Asia Pacific is expected to be the fastest-growing region for the product over the forecast period owing to the existence of a large customer base and evolving telecom industry. Latine America, the Middle East & Africa are other regions anticipated to witness substantial growth over the next seven years.
Key market players dominating the global market include Alcatel-Lucent S.A., Huawei, Hewlett-Packard Company, Formula Telecom Solutions, AT&T Inc., Amdocs, Cisco System, Carillion, Elitecore Technologies, and Computer. 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 critical strategies employed by top market players to broaden their product portfolio and increase their global presence. Vendors have been emphasizing on providing niche services and have high support teams to sustain their market share.
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 Amdocs acquired Celicite to increase its product portfolio further into the network software market.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.