The Rise of Enterprise Networking Market: A $175.2 billion Industry Dominated by Cisco Systems (US) and Hewlett Packard Enterprise (US) | MarketsandMarkets™
Delray Beach, FL, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The Enterprise Networking Market size is projected to grow from USD 115.8 billion in 2024 to USD 175.2 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 8.6%, according to a new report by MarketsandMarkets™. An enterprise network offers end-to-end services to users, things, and applications and each constituent network is designed, provisioned, and optimized for a specific purpose and business objectives. The various network types include campus networks, data center networks, and wide-area networks. These networks serve as a foundation for modern digital enterprises and are expected to improve security, enhance user experience, and support many devices performing essential business tasks. An enterprise network can improve the user experience through proactive network optimization, faster issue resolution, proper prioritization of essential traffic, and security and privacy assurance. Wi-Fi 6, 5G, and newly opened frequency bands for ultra-fast, short-range transmissions enable access to high-speed wireless connectivity. At the same time, 400 Gbps is the new standard for high-speed data center networks. These innovations are spurring productivity enhancements and continued innovation across organizations.
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Enterprise Networking Market Dynamics:
Drivers:
- Zero-Trust Network Models: Implementing a zero-trust architecture ensures that only authorized devices and users can access the network, minimizing the risk of unauthorized access and data breaches.
- Firewall Protection: Firewalls act as the first line of defense, controlling incoming and outgoing network traffic based on predefined rules to prevent unauthorized access.
- Security Tools: Anti-malware software and intrusion detection systems are essential for continuously monitoring the network for suspicious activity and responding to threats.
Restraints:
- High Cost for Wide Area Connections: Traditional WAN links like MPLS and leased lines can be expensive, especially for geographically dispersed locations and high bandwidth requirements.
- Dedicated Circuits for Critical Applications: Running critical applications often requires dedicated circuits, which can be particularly costly in rural or remote areas with less developed infrastructure.
Opportunities:
- Enhanced Security: Zero-trust verifies the identity and integrity of users, devices, and applications, preventing unauthorized access and data breaches.
- Improved Efficiency: Strong authentication, network segmentation, and granular policy simplification streamline security management and reduce the risk of lateral movement.
List of Enterprise Networking Market Companies:
- Cisco Systems (US)
- Broadcom (US)
- Hewlett Packard Enterprise (US)
- Juniper Networks (US)
- Extreme Networks, Inc. (US)
- Huawei (China)
- Fortinet (US)
- Cloudflare, Inc. (US)
- Alcatel-Lucent Enterprise (France)
- Arista Networks (US)
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By offering, the networking devices segment is expected to have the largest market size during the forecast period.
Network devices offer support for communication between the users of the network and external networks. These devices manage the flow of traffic and connect a number of secure network segments. Network devices include routers, switches, gateways, firewalls, and other such devices. All of the network devices are important in terms of the role they play toward the function and security of the network infrastructure, so they all play a vital role in order to have a healthy IT environment. It facilitates sharing resources such as files, printers, and the internet to users and devices connected over the network and ensures that data transmitted over it gets routed accurately. Network devices scale businesses by making the networks scalable to the dynamic requirements of a business in terms of running operations to their optimum and protecting them against cyber threats.
By connection type, wireless segment is expected to hold a higher growth rate during the forecast period.
Wireless networking focuses on devices connected to a network without the need for physical cable deployments. Among the most critical issues in advanced enterprise environments is enterprise wireless networking. This is due to the rising adoption of mobile and Internet of Things devices and the shifting corporate demand for flexible and mobile-first work environments. The indoor wireless network solution, on the other hand, applies to any office space, campus, or industrial environment. The surge in the adoption of Wi-Fi solutions is being propelled by the increased adoption of Wi-Fi 6/6E and the latest Wi-Fi 7 for enhanced performance and capacity to meet the requirements of enterprises. Further, the need for robust wireless networking solutions is helping to scale up remote, hybrid work environments, and smart-building environments.
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Based on region, North America is expected to hold the largest market share during the forecast period.
The trends of enterprise networking in North America, especially in the United States, are marked by fast-changing technology and shifting workplace dynamics, all while delivering on security, speed, and flexibility. Enterprises invest heavily in secure remote access solutions that provide seamless connectivity and security for remote workers. Enterprises are increasingly migrating to cloud services, whereby flexibility, scalability, and cost efficiency are expected through the cloud infrastructure. Cloud-based networking solutions are being adopted by enterprises. SD-WAN, cloud-managed networking, and multi-cloud strategies are becoming core technologies in enterprise networking architecture.
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