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.
U.S. enterprise networking market by equipment, 2012 - 2024 (USD Million) |
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.
Full
Research Report On Global Enterprise Networking Market Analysis:
http://www.grandviewresearch.com/industry-analysis/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.
View more
reports of this category by Grand View Research at:
http://www.grandviewresearch.com/industry/communications-infrastructure-systems-and-software
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
View press
release of this research report by Grand View Research:
http://www.grandviewresearch.com/press-release/global-enterprise-networking-market
http://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.
For more
information: www.grandviewresearch.com
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