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 Global Enterprise Networking Market: http://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 more reports of this category by
Grand View Research: http://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
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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