According to the latest procurement market intelligence report from Technavio, the global internet services market is expected to grow at a CAGR of 6.8% over the next five years due to the use of emerging and new internet technology applications.
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Technavio has published a new report on the global internet services market from 2017-2021. (Graphic: Business Wire)
The research report titled ‘Global Internet Services: Procurement Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.
“The internet services market is expected to grow at a steady rate due to the increasing demand from segments such as IT services, financial services, and retail sector,” said lead Technavio procurement expert Angad Singh for category spend intelligence. “There is an evolution of types of internet connection provided by internet services providers, which help them to meet customers' expectations for internet services,” added Angad.
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Cost Saving Opportunities in the Internet Services Market
The adoption of various cost-optimization levers helps buyers of internet services realize direct cost savings and enhance category management and value benefits (including reduced procurement complexities).
Technavio procurement experts have segmented the cost saving opportunities in the internet services market into the following value-enhancement opportunities:
- Adoption of technology
- Supplier Competition
- Adoption of negotiation strategies
- Optimization of procurement practices
- Bundling of services
Adoption of technology saving aspects
IDSL technology is an integrated service digital network-based technology that provides Internet speeds up to 144 Kbps. It provides always-on connectivity that transmits data through data network rather than carrier's voice network.
The cellular network provides wireless internet access through mobiles. The speed of the Internet may vary depending on the type of network (3G or 4G) and the service provider's bandwidth.
Optimization of procurement practices saving aspects
Buyers look to procure public IPs as they give greater control by subcategorizing the network into private IPs for security purposes. Additionally, it also allows them to allocate fixed bandwidths to certain websites or domains that are being accessed by their protocols.
As organizations predominantly have backup processes running in the background, they look to procure internet services that offer symmetric upload and download speeds.
Bundling of services saving aspects
Organizations usually look for service providers that offer a variety of enterprise connection options such as DSL, cable broadband, satellite, and FiOS, as they reduce management complexities associated with engaging with multiple service providers for each specific model.
Browse other reports:
- Global IT Support Services - Procurement Market Intelligence Report 2016-2020
- Global IT Application Development Services - Procurement Market Intelligence Report 2017-2021
- Global Cyber Security Services Market – Procurement Market Intelligence Report 2017-2021
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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