Enterprise networking comprises routers, switches, & wireless access points that facilitate an organization’s communications and helps connect users, devices, & applications throughout different departments. With the ever-increasing proliferation of smartphones & laptops worldwide, several businesses have started integrating these devices into their organizational network, which requires a physical, virtual & logical design of a closed network that enterprise networking equipment offers.
The Global Enterprise Networking Market is expected to grow at a CAGR of around 7.3% during the forecast period, i.e., 2023-28. The growth of the market is projected to be driven by the mounting adoption of cloud services, wireless devices, the IoT (Internet of Things), and other digital solutions, coupled with the surging demand for robust network connectivity owing to the increasing adoption of remote working models among several enterprises worldwide.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Regions Covered||North America: US, Canada, Mexico|
|Europe: Germany, The UK, France, Spain, Italy, Rest of Europe|
|Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific|
|South America: Brazil, Argentina, Rest of South America|
|Middle East & Africa: Saudi Arabia, UAE, Turkey South Africa, Rest of MEA|
|Key Companies Profiled||Cisco Systems, Inc., Huawei Technologies Co., Ltd., Dell Inc., Hewlett Packard Enterprise Development LP (Aruba Networks), Arista Networks, Juniper Networks, Inc., VMware, Inc., Extreme Networks, NVIDIA Corporation, Nutanix, Riverbed Technology, and Netscout|
|Unit Denominations||USD Million/Billion|
Consequently, most organizations are strengthening their networking infrastructure and investing massively in high-end network solutions, which, in turn, is promulgating the enterprise networking market growth. Focus on modernizing networks using software with a focus on high bandwidth networks and expanding wireless network capabilities is gaining prominence among enterprises. Moreover, the shifting preferences of organizations toward converged network architecture and the ever-increased implementation of network virtualization technology are also projected to stimulate the enterprise networking market expansion in the forecast years.
In addition, large enterprises operating in industries like BFSI, retail, transportation & logistics, healthcare, energy, & manufacturing, among many others, are integrating digital technologies into their IT architecture. They are actively focusing on launching new applications & services by leveraging AI, IoT, analytics, mobility, & blockchain that require agility, scalability, & computing capabilities provided by enterprise network solutions.
Furthermore, the burgeoning adoption of enterprise network equipment management approaches by several organizations worldwide in order to address & mitigate ever-increasing bandwidth bottlenecks & network traffic problems and thus ensure proper traffic flow & network safety, coupled with remarkable innovations in wireless LAN technology & high-speed Ethernet switches, which have led to the emergence of smaller and efficient chipsets & modules with added functionalities, are other crucial factors anticipated to propel the overall market growth in the coming years.
Based on Component:
Among all, WLAN is anticipated to demonstrate the fastest market growth in the forecast period, holding lucrative opportunities for the leading players. This hike is backed by the rapidly increasing utilization of wireless equipment, especially by small & medium-sized enterprises to allow users to bring their devices into the enterprise & access corporate applications. Since this equipment principally aims to enhance the overall productivity of the enterprises, their demand is peaking high rapidly. It, in turn, is instigating the leading players to widen their offerings and cater to the demands, allowing enterprises to extend or deploy new WLANs.
On the other hand, Network security is projected to emerge as an area of opportunity for the players and shall make a substantial contribution to the overall expansion of the Enterprise Networking Market during the forecast period. This growth is likely to be driven by the peaking demand for data security and privacy by enterprises of all sizes. Besides, maximizing expenditure by companies on their infrastructure for WLAN, switches, and network monitoring is further demonstrating growth potential for the market throughout the world.
Based on Deployment:
Here, the on-premise deployment mode holds a larger market share as more & more organizations are increasingly adopting on-premise enterprise networking solutions in order to efficiently deploy network monitoring and management solutions for improved management over network resources & superior security. Moreover, since companies choose to keep their data local to prevent data thefts & cyberattacks, it is also amplifying the adoption of on-premise enterprise networking solutions.
Based on End-User:
Among all end-user verticals, the BFSI sector is projected to acquire the majority share of the Global Enterprise Networking Market during 2023-28. It attributes to the ever-growing deployment of digital platforms and an increasing number of hyper-connected networks in banks & other financial institutions. This sector has undergone significant advancements in the past few years due to the mounting proliferation of cloud computing and network virtualization technologies, which is why the need for excellent network management & monitoring solutions to track data security has surged dramatically worldwide. Hence, enterprises operating in the BFSI sector are implementing various cybersecurity policies as an adequate network security approach in order to mitigate cyberattacks, which, consequently, is stimulating the overall expansion of the enterprise networking market.
Geographically, the Global Enterprise Networking Market expands across:
Of all regions globally, North America is projected to attain a notable share of the Enterprise Networking Market during 2023-28, backed by the easy availability of advanced ICT infrastructure across different countries in the region, with substantial enterprise budgets. Since countries like the US have companies dedicated to strengthening their product capabilities with various emerging technologies like cloud networking, DevOps, network analytics, and virtualization, among others, the demand and utilization of enterprise networking are accelerating and positively Influencing the market trajectory.
On the other hand, Asia-Pacific is anticipated to demonstrate the fastest market growth through 2028. This growth is set to be driven by the massive emergence of enterprises across different countries in the region and their inclination toward the adoption of cloud services. Furthermore, rapidly increasing manufacturing activities are hinting at a strong demand for high-quality precision equipment in this region. Nonetheless, the robust IT sector and tremendous appetite for technologically advanced devices, particularly across countries like China & India are also fueling the market growth in the Asia-Pacific region.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Enterprise Networking Market is projected to register around 7.3% CAGR during 2023-28.
A. The mounting proliferation of cloud services, wireless devices, & the IoT (Internet of Things) and the growing requirements of organizations for robust network connectivity are the prime aspects expected to drive the Enterprise Networking Market during 2023-28.
A. Cisco Systems, Inc., Huawei Technologies Co., Ltd., Dell Inc., Hewlett Packard Enterprise Development LP (Aruba Networks), Arista Networks, Juniper Networks, Inc., VMware, Inc., Extreme Networks, NVIDIA Corporation, Nutanix, Riverbed Technology, and Netscout are the key companies participating in the Enterprise Networking Market.
A. Network Security would emerge as an area of remunerative opportunities for the leading players in the Enterprise Networking Market during 2023-28.
A. Asia-Pacific would create new directions for the leading players in the Enterprise Networking Market to generate significant profits in the years ahead.