San Francisco, 12 Nov 2018 - According to a report published by Grand View Research, Inc.; the enterprise networking market is expected to reach a valuation of around 64.63 billion by 2024.
Rising shift towards the adoption of wireless technology and expansion of mobile workforce, growing bandwidth requirements, and high penetration of mobile internet devices can propel the market during the forecast period. (2012 to 2024).
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U.S. enterprise networking market by equipment, 2012 - 2024 (USD Million) |
Rise in adoption of virtualization technology, increasing popularity of wireless equipment, and rise in demand for internet-enabled devices are expected to boost the market in the coming years. Ongoing technological developments in wireless LAN technology and high-speed Ethernet switches is likely to drive the market in the coming years. Increasing need for implementation of high-speed ethernet switches are likely to offer new growth opportunities in the market. Enterprises are extensively making use of advanced technologies and features such as 100G Ethernet switches and implementation of 802.11 ac standards. Moreover, growing trend of bring your own device (BYOD) and growing mobile workforce is projected to drive the market growth in the coming years. In, BYOD trend, the user can use any device from anywhere. This is driving the demand for wireless networks and mission-critical mobility applications. Furthermore, small and medium-sized enterprises are anticipated to continue investment in the networking market to adopt technological progressions and to fulfill their expansion goals. Additionally, increasing government efforts, specially in emerging countries to establish smart cities, improve financial inclusions, and reduce the digital divide are expected to increased demand for networking.
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However, growing concerns regarding security and managing complex networks is anticipated to hinder the market growth.
Worldwide enterprise networking market can be segmented on the basis of equipment and region.
Based on equipment, the market can be categorized into ethernet switch, enterprise routers, network security, and WLAN.
In terms of revenue, in 2015, the Ethernet switch estimated for over 40% of the overall market and expected to grow at a CAGR of over 7.0% during 2016 to 2024. This segment is likely to dominate the market over the forecast period. Increasing demand for high performance and high-speed data are expected to increase the demand for these devices.
The WLAN segment is likely to grow swiftly during the forecast period. Growing demand for wireless equipment from small and medium enterprises is anticipated to increase the demand for WLAN equipment. Several users use their personal devices in the organization and access corporate applications in order to increase productivity. This has encouraged enterprises to extend or implement new WLANs. Network security is projected to show promising growth over the forecast period due to strong demand for data security and privacy.
Geographically, the market can be divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
Growing trends towards the adoption of 802.11ac wireless standard are also anticipated to drive the growth in Latin America and Asia Pacific. In 2015, Asia Pacific reported for over 35% of the overall revenue. Increasing outsourcing regarding manufacturing to low-cost emerging countries in this region is anticipated to have high demand for high-quality precision equipment in this region. Strong growth of IT sector and growing demand for technologically advance devices, specifically in China can spur the regional growth in the coming years.
Latin America is expected to grow on account of free trade agreements with Canada, the U.S., Japan, and the European union. This have encouraged manufacturers to start manufacturing and assembly of electronics components in countries like Mexico and Brazil, which leads to high implementation of enterprise networking devices in the region.
Prominent companies operating in the market include Huawei Technologies Co. Ltd, Brocade Communications Systems, Blue Coat Systems, Riverbed Technology, and Alcatel-Lucent.
The market is extremely competitive, and players are more focused on pricing. Increasing adoption of SDN has minimize the barrier for new entrants and created several new competitors for hardware manufacturers. Increasing demand for SDN is encouraging proprietary hardware manufacturers to implement new strategies to protect their revenue. Players in the market are developing new business approaches to complete the customer demand by providing new solutions, which can reduce cost and improve operational efficiency.
Access More Reports Of The Same Category: www.grandviewresearch.com/industry/communications-infrastructure-systems-and-software
Grand View Research has segmented the enterprise networking market on the basis of equipment, and region:
Enterprise Networking Equipment Outlook (Revenue, USD Million, 2013 - 2024)
- Ethernet Switch
- Enterprise Routers
- WLAN
- Network Security
Enterprise Networking Regional Outlook (Revenue, USD Million, 2013 - 2024)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Browse Press Release of this Report: www.grandviewresearch.com/press-release/global-enterprise-networking-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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