Global Enterprise Networking Market Research Report: Forecast (2024-2030)

Market Definition

Enterprise networking comprises routers, switches, & wireless access points that facilitate an organization’s communications and help 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.

Market Insights & Analysis: Global Enterprise Networking Market (2024-30):

The Global Enterprise Networking Market size is valued at around USD 124.29 billion in 2024 and is projected to grow at a CAGR of around 9.18% during 2024-30. 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. 

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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. For all these networking requirements 5G or 5^th generation technologies play a crucial role by enabling the high-speed and ultra-low latency rates. 5G's ability to support a large number of connected devices at the same time makes it ideal for IoT deployments.

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 to address & mitigate ever-increasing bandwidth bottlenecks & network traffic problems and to 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 augment the size & volume of the enterprise networking industry during the forecast period.

Global Enterprise Networking Market Driver:

Increasing Digital Transformation Driving Market Growth – Currently, digital transformation is all about radical changes in how businesses run and interact with technology. Hence the primary driver for the growth of the Global Enterprise Networking Market is the ongoing demand for digital transformation in the companies. For high performance and seamless integration, businesses need reliable and scalable network systems, which can be possible with digital technologies such as cloud computing and artificial intelligence. To use, these technologies, businesses are required to update the IT infrastructure and enterprise networking which further increases the demand for enterprise networking in the market.

Additionally, digital technologies also support remote work streamline processes, and adjust according to the changes quickly which enhances the agility and efficiency of the business. Hence businesses making investments in networking technologies to integrate with digital technologies will further propel the demand in the enterprise networking industry.

Global Enterprise Networking Market Opportunity:

Surging Cloud Services & IoT Offering Lucrative Growth Opportunities – In the Global Enterprise Networking Market the rapid growth of cloud services and IoT (Internet of Things) technologies creates major opportunities.  The demand for advanced network infrastructure will increase significantly to support innovations like cloud-based solutions and deploy a myriad of IoT devices. Large enterprises in industries like BFSI, retail, transportation & logistics, healthcare, energy, & manufacturing, among other sectors are focusing on creating and implementing high-bandwidth networks that can enhance wireless capabilities. This will create a great opportunity for network solution providers to provide high-performance, scalable, and secure networking solutions by launching new applications & services by leveraging AI, IoT, analytics, mobility, & blockchain.  For instance,

• In January 2024, Cisco Systems, Inc. unveiled its new networking solution, Cisco Nexus 9000 Series switches, designed to enhance high-bandwidth connectivity and support the growing demand for cloud services and IoT deployments.

Global Enterprise Networking Market Challenge:

Management of Network Traffic & Bandwidth Bottlenecks to Hinder Market Growth – The major challenge in the growth & expansion of the Global Enterprise Networking Market is to manage the bandwidth bottlenecks and network traffic. As organizations rapidly adopt cloud services, IoT devices, and advanced digital technologies, the demand for high-speed, reliable connectivity and the increasing volume of data creates pressure on the network infrastructure. Companies need to invest in advanced network solutions to address these issues as these advanced solutions can handle increased traffic and ensure smooth, secure data flow.

Global Enterprise Networking Market Trend:

Increasing Adoption of 5G Technology – Adaptation of 5G technology is reshaping the Global Enterprise Networking Market as it enhances network performance and capabilities. This 5G technology provides high speed with ultra-low latency and also massive connectivity as compared to the previous technologies required for more efficient enterprise networking. This trend supports the demand for enterprise network requirements by addressing the need for high-speed data transfer, more reliable, and flexible connectivity within the networks.

Moreover, 5G can support a vast number of connections to multiple devices at the same time making it perfect for IoT deployment. As 5G technology continues to evolve and expand, it is expected to bring about major improvements in the business function and handle digital assets as it develops and grows. Additionally, as more businesses are adopting 5G creating competitive pressure, shows the critical role of 5G in maintaining a competitive edge in enterprise networking and playing a pivotal role in shaping the future of enterprise networking.

Global Enterprise Networking Market (2024-30): Segmentation Analysis

The Global Enterprise Networking Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024-2030 at the global level. Based on the analysis, the market has been further classified as:

Based on Component:

• Product

• Ethernet Switches
• Router
• Wireless Access Point
• WLAN

• Services

• Cloud Networking
• Network Virtualization
• Container Networking
• Security
  • Cloud
  • Network

The product segment is currently leading the Global Enterprise Networking Market. It includes Ethernet Switches, Routers, Wireless Access Points, and WLAN. Among all, WLAN is anticipated to demonstrate the fastest revenue growth during the forecast period, showing lucrative opportunities for the leading market players. This growth 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 primarily 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.

Based on End-User:

• Retail
• BFSI
• IT & Telecom
• Media & Entertainment
• Education
• Government
• Energy & Utilities
• Automotive
• Others (Healthcare, Aerospace, etc.)

Among all end-user verticals, the BFSI sector is projected to acquire the majority share of the Global Enterprise Networking Market during 2024-30. It is attributed 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 to mitigate cyberattacks, which, consequently, is stimulating the overall expansion of the enterprise networking industry.

Global Enterprise Networking Market (2024-30): Regional Projections

Geographically, the Global Enterprise Networking Market expands across:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Based on all regions globally, North America is projected to attain a notable market share of the Enterprise Networking Industry during 2024-30, 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 revenue growth through 2030. 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 fuelling the market growth in the Asia-Pacific region.

Global Enterprise Networking Industry Recent Development:

• August 2023: Dell introduced its new PowerEdge R760 servers with integrated networking capabilities aimed at optimizing data center operations and supporting high-demand applications.
• July 2023: Arista Networks announced the release of its new 7800R3 series of routers. These routers offer increased bandwidth and advanced telemetry features designed for high-performance enterprise and service provider networks.

Gain a Competitive Edge with Our Global Enterprise Networking Market Report

1. Global Enterprise Networking Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Enterprise Networking Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

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