Dublin, Ireland -- (SBWire) -- 03/16/2021 --Enterprise Network Equipment Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The increasing incidences of cyber-thefts, particularly in the banking and defense institutions, is a key driver contributing to the growth of the enterprise network equipment market. Furthermore, the growing complexity and diversity of cyber-attacks have increased the requirement to implement network security equipment to reduce the chances of large-scale data thefts. According to the Identity Theft Resource Center, the total number of data breach cases in the US had touched 1473 million in 2019, about 419 million in 2011. Furthermore, the rising demand for connected devices worldwide will further fuel the demand for the market due to its properties to boost real-time communication. The increasing number of IoT-enabled devices has encouraged organizations to implement enterprise network equipment solutions. In addition to this, the growth in the deployment of cloud computing by large enterprises and SMEs across sectors will further open doors for the growth of the enterprise network equipment market share in terms of revenue.
The rising trend of IoT and BYOD trends is increasing the number of cyber-crimes, which in turn has promoted enterprises to implement network security solutions. According to a report published by Cisco, around 46% of the network devices will be machine-to-machine or IoT by the end of 2020, which are more exposed to attacks. For fully using the connected devices, the industries should be equipped with WANs, which are projected to fulfill the rising demand during the forecast period.
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Enterprise Network Equipment Market's leading Manufacturers:
- Cisco Systems
- Aruba (Hewlett Packard Enterprise Development LP)
- Juniper Networks, Inc.
- Huawei Technologies Co., Ltd.
- Dell Inc.
- Extreme Networks
- Arista Networks, Inc.
- Fortinet, Inc.
- VMware, Inc.
- NETSCOUT
Product Type Segment Drivers
Based on the product type, the router is predicted to dominate the market due to the growing demand for wireless connectivity. According to Cisco, the expected penetration of enterprise internet traffic through the wireless fixed-line connection in 2021 accounted for 125,988 petabytes every month. Thereby, the rising number of internet users will boost the growth of the market.
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Organization Size Segment Drivers
Based on the organization size, the small and medium enterprises is anticipated to rise at a higher CAGR in the upcoming years as the networking equipment offers remarkable benefits like aids in switching and combing packets of information, transports or processes network traffic, and connects devices for data sharing. In addition to this, the capability of this type of equipment to allow SMEs to capture few users in small offices will support the market growth.
Enterprise Network Equipment Market Segmentation:
Segmentation by Product Type:
- Router
- LAN Switches
- WLAN
- Datacentre Networking Equipment
- Firewall Equipment
Segmentation by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Segmentation by Region:
- North America
o United States of America
o Canada
- Asia Pacific
o China
o Japan
o India
o Rest of APAC
- Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
- RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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Enterprise Network Equipment Market Size, Share, Growth & Industry Segmentation Report, 2020-2027
The GMI Research's latest analysis reveals that the Enterprise Network Equipment Market is slated to register a significant CAGR over the forecast period. This is attributed to the increasing incidences of cyber-thefts, particularly in the banking and defense institutions, and growth in cloud computing deployment by large enterprises and SMEs across sectors.