San Francisco, 16 November
2018: According to a report published by Grand View Research,
Inc.; the enterprisenetworking 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).
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.
Access
Research Report of Enterprise
Networking Market@ www.grandviewresearch.com/industry-analysis/enterprise-networking-market
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.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/communications-infrastructure-systems-and-software
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
Press Release of Enterprise Networking Market@ 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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