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.
U.S. enterprise networking
market by equipment, 2012 - 2024 (USD Million)
Browse full research report on
Enterprise Networking Market
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.
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.
For
more information: http://www.grandviewresearch.com
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