The global enterprise networking market is expected to reach
USD 64.63 billion by 2024, according to a new report by Grand View Research,
Inc. Increasing adoption of virtualization technologies by organizations to
reduce the storage infrastructure costs is expected to offer lucrative
opportunities to the market over the forecast period.
Growing popularity of wireless equipment and
strong demand for internet-enabled devices is expected to drive the revenue
growth. Enterprises are favoring the advanced technologies and features such as
100G Ethernet switches and adoption of 802.11 ac standards.
Additionally, the proliferation of Bring Your Own Device (BYOD) and expanding mobile
workforce is expected to augment industry growth. The BYOD trend epitomizing
the concept of any device used anywhere is fuelling the need for invasive
wireless networks and mission-critical mobility applications.
Growing IT infrastructure and increasing
demand from economies such as India, Japan, and China is expected to fuel
enterprise networking market growth. Rising bandwidth requirements and
accelerating shift towards wireless systems are also projected to boost demand
over the forecast period. However, rising security concerns and difficulty in
managing complex networks is expected to hamper growth.
The shift towards Software Defined Networking
(SDN) has had a considerable impact on the router and switch market. The switch
manufacturers are making their hardware more accessible through Application
Program Interface (API) which exposes their configurable elements. This
transition in design offers flexible and application-driven customization of network
infrastructure.
Moreover, small and medium-sized businesses
are expected to continue investing in the networking market to make provisions
for technological changes and to support their expansion goals. Government
initiatives in developing economies are aiming at building smart cities,
reducing the digital divide and improving financial inclusions are expected to
augment the demand for enterprise networking market.
Browse full research report on Enterprise
Networking Market:
https://www.grandviewresearch.com/industry-analysis/enterprise-networking-market
Further key
findings from the report suggest:
- Ethernet switch is estimated to reach over USD
23.54billion by 2024 and growing at a CAGR of 4.5% from 2016 to 2024.
Changing enterprise demand for high speed and better performance with a
shift towards 40GE switching is expected to boost the sales of Ethernet
switches.
- WLAN accounted for growing at a CAGR of over
8% from 2016 to 2024. This high growth can be attributed to continuous
improvements in wireless technologies and standards that address the
wireless applications.
- The Asia Pacific enterprise networking
industry is expected to remain the largest market owing to the widespread
implementation of hybrid IT environments among organizations. The regional
industry is projected to account for over 40% by 2024, growing at a CAGR
of over 7.0% from 2016 to 2024.
- Enterprise networking vendors are evolving new
business models to meet the demand of customers by offering new solutions
that reduce cost, improves operational efficiency and replace legacy
network infrastructure
- Key players in the enterprise networking
market include Cisco Systems, Hewlett-Packard, Alcatel-Lucent, Brocade
Communications Systems and Juniper Networks. Competition for enterprise
customers and service providers is particularly intense and increasingly
focused on pricing. Growing adoption of SDN has lowered the barrier to
entry in the networking space, creating new competitors for hardware
vendors. Customer adoption of SDN is propelling proprietary hardware
vendors to adopt new strategies to protect their revenue bases.
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/enterprise-networking-market/request/rs1
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
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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