The global Enterprise Networking Market is projected to grow at a significant CAGR during the forecast period. Companies are now focussing on digitizing their customer needs and hence the digital models are reengineered accordingly. At present, the telecommunication service providers are consistent to raise their bandwidth in access network for consumers and enterprises. Enterprise architects manage their networks via applications for network based applications.
Enterprise networking market is highly driven by rise in need for organization to adopt to digital practices to enhance the value and significance of software-defined networking. Companies are now emphasizing on wireless network capacities. The market witnesses a tremendous rise in technological spending contributing to the market growth. The need for high-speed Ethernet switches are likely to offer lucrative opportunities for future market growth. In addition, significant need for bandwidth requirements and rise in use of mobile internet device is likely to propel the market size.
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In terms of operation, the market is now migrating from single-vendor environment to multi-vendor scenario. Decision-making is changing rapidly due to high demand for internet services and visualization technology. Segmentation by equipment for enterprise networking market comprises enterprise routers, WLAN, network security, Ethernet switch and network security. Ethernet switch accounts for a significant market share owing to better performances and high-speed data transmission.
Geographical segmentation for enterprise networking industry comprises North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions are likely to gain a significant growth during the forecast period due to the robust development and technologically advanced devices.
North American and European markets are gaining tremendous traction due to inception of new ventures, proliferation of start-up culture and robust needs for enterprise networking. In addition, trade agreements and manufacture of electronic components is likely to contribute to the market growth during the forecast period. The key players in enterprise networking market include Alcatel-Lucent, Cisco Systems, Hewlett-Packard and Brocade Communication Systems.
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Market Segment:
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
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/telecommunications-and-networks
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