New York, USA, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The global enterprise networking market size is projected to grow from USD 196.43 billion in 2023 to USD 313.72 billion by 2032, at a CAGR of 5.4%, according to a new report by Polaris Market Research.
A network is a category of connected computers and an enterprise network is such a category structured to serve the requirements of extensive businesses. Enterprise networks are constituted of local area networks (LAN) that, in turn, link to wide area networks (WAN) and the cloud. In an enterprise setup, data centers, branch offices, public and private clouds, IoT gadgets, and distinct employees of a firm all require dependable network connections. These connections sanction undertakings to exchange data, operate business procedures, and scrutinize the developments in the network.
Key Insights from the Report:
- The market for enterprise networking is shaped by reinforcing the firm's objectives by sanctioning dependable and steady digital services for workers, associates, and consumers and growingly for IoT gadgets.
- The enterprise networking market segmentation is mainly based on equipment, infrastructure, connection, technology, end users, and regions.
- Based on equipment, the ethernet switches segment is expected to experience the highest CAGR during the forecast period.
- By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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Enterprise Networking Market Scope:
| Report Attributes | Details |
| Market size value in 2023 | USD 196.43 billion |
| Market size value in 2024 | USD 206.68 billion |
| Revenue forecast in 2032 | USD 313.72 billion |
| CAGR | 5.4% from 2024 to 2032 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Market’s Growth Drivers:
Emerging Technologies: The market is propelled by surfacing technologies such as ML, AI, 5G, and cloud computing. These technologies need a strong framework to manage excessive aggregate data in real-time. Also, undertakings require networking solutions that reinforce elevated bandwidth and low latency mandatory for processing and surveying data swiftly and productively contributing to enterprise networking market growth.
Growing Remote Work: The market is driven by the escalating approval of remote work. According to data announced by Owl Lab State of Remote Work report worldwide, 16% of firms will be totally remote in 2022. Remote work compels dependable and steady connections for workers operating from several locations. Further, enterprises require string networking solutions to sanction smooth gateway to corporate resources and applications.
Growing Deployment of Cloud Services: Growing utilization of cloud services is expected to push the market. Several cloud applications, especially those including real-time data refining or cooperation instruments, need low latency for maximum performance. This prompts businesses to fund networking solutions that lessen latency to offer a smooth user experience.
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List of Enterprise Networking Market Key Players:
- A10 Networks, Inc.
- ZTE Corporation
- Riverbed Technology
- Juniper Networks, Inc.
- ALE International
- Broadcom
- Cisco Systems, Inc.
- Dell Inc.
- ARYAKA NETWORKS, INC.
- Hewlett Packard Enterprise Development LP
Geographical Analysis:
Asia Pacific accounted for the largest enterprise networking market share. This is due to speedy digital modification covering prominent economies such as China and India. These nations are encountering notable funding in technology, pushed by the growing acquisition of cloud services, IoT gadgets, and 5G networks. The region's massive population and augmenting middle class have also generated a flourishing demand for dependable connectivity, propelling businesses to enhance their network framework. Further, government capabilities targeted at promoting invention and improving digital potential further restore growth.
North America is also expected to grow at the highest CAGR during the forecast period. This is because of its robust concentration on technological invention and strong funding in a digital framework. The demand for progressive networking solutions is established to surge as firms in North America concentrate on improving their cybersecurity measures and maximizing their networks for distant work and association. Additionally, the continued move towards a hybrid work habitat motivates businesses to look for flexible, elevated presentation networking alternatives.
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Market Segmentation:
By Equipment Outlook:
- Ethernet Switch
- Enterprise Routers
- WLAN
- Network Security
By Infrastructure Outlook:
- In-house
- Outsourced
By Connection Outlook:
- Wired
- Wireless
By Technology Outlook:
- Software Defined Networking (SDN)
- Network Function Virtualization (NFV)
- Software Defined Wide Area Network (SD-WAN)
- Secure Acess Service Edge (SASE)
- Wi-Fi
- Intenet-based Networking (IBN)
- Other
By End Users Outlook:
- Cloud Service Providers
- Telecom Service Providers
- BFSI
- Manufacturing
- IT & ITes
- Healthcare & Life Sciences
- Retail & E-commerce
- Transportation
- Government
- Other
By Region Outlook:
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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