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DUBLIN, Oct. 24, 2022 /PRNewswire/ — The “Self-Organizing Network Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global self-organizing network market size reached US$ 4.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 8.8 Billion by 2027, exhibiting a CAGR of 11.02% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A self-organizing network (SON) refers to a mobile network software solution that manipulates complex network operations to deliver enhanced network performance. It is designed for planning, configuring, managing, diagnosing and troubleshooting network errors through advanced automated configurations.
A well-designed and efficient SON system can achieve and maintain high levels of network performance by continuously finding improvement patterns, minimizing workload on the network operator and automating various network management processes. Owing to this, it finds extensive application across various sectors, such as e-commerce, advertising, media, entertainment and healthcare.
Rapid urbanization, along with the rising demand for advanced systems to manage network complexities, is one of the key factors driving the growth of the market. The increasing requirements for higher bandwidth spectrum and growing mobile data traffic load on the existing networks have led to the widespread adoption of SONs across the globe.
Furthermore, the virtualization of mobile networks is also providing a boost to the market growth. SONs are increasingly being deployed with cloud-based Network Functions Virtualization (NFV) models and software-defined networking (SDN) systems by telecom service providers, which aid in creating virtual, flexible and cost-effective mobile networks.
Various technological advancements, such as the integration with the 5G spectrum and the Internet of Things (IoT) that aid in network management, fault management and optimizing coverage, capacity and network performance, are acting as another growth-inducing factor. Other factors, including Significant improvements in the information technology (IT) infrastructure, along with extensive investments in the telecommunication sector, are projected to drive the market further.
Competitive Landscape:
The report…
Full story available on Benzinga.com
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