Selbyville, Delaware, Dec. 19, 2018 (GLOBE NEWSWIRE) --
The enterprise networking market is expected to grow from $62 billion in 2017 to $90 billion by 2024, according to a 2018 Global Market Insights, Inc. report. The industry growth is driven by surge in connected devices that will generate a need for secure & real-time communication between devices.
To overcome the growing network traffic and bandwidth bottleneck issues, the enterprises are embracing network management solutions to manage traffic while ensuring network security. The massive rise in IoT devices has increased the security risks associated with unsecured devices. Thus, to secure the networks, they are deploying enterprise network security solutions to gain visibility of endpoints and unsecured devices & applications.
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Other factors driving the enterprise networking market demand are shifting consumer preferences toward converged network architecture and the implementation of network virtualization technology to consolidate the network functions, enabling businesses to improve network efficiency and reduce operational costs. The increase in the mobility of enterprise users creates networking & management complexities, resulting in the demand for convergence. The converged enterprise network management systems play an important role in allowing enterprises to diagnose network issues. These systems provide an end-to-end visibility and enable network operators to view the converged network architecture.
The switches segment held a major share of the enterprise networking market in 2017, amounting to over 25%. To meet the growing network capacity demands, the enterprises rely on high-speed ethernet switches, which enable them to support various devices and allow high transmission rates. The rising demand for high-speed data services is driving the adoption of network switching technology, enabling enterprise networks to address the requirements for high-availability, unified communications, and virtualization.
Integration & maintenance services in the enterprise networking market held a major market share of over 42% in 2017. The integration services enable enterprises to control risks, costs, and quality through a planned deployment process. An enterprise network transformation requires changes both in infrastructure and the way networks are managed. This transformation accelerates the demand for network maintenance services. The maintenance solutions give customers the ability to upscale or downscale the services on demand and help clients achieve optimal performance from their networking systems.
The on-premise deployment model held a major share of the enterprise networking market as this model enables IT architects to configure solutions to match their needs. These solutions help businesses to ensure that their networks are running securely and giving them direct control to access the data and control security of the computing infrastructure.
Browse key industry insights spread across 270 pages with 456 market data tables & 26 figures & charts from the report, “Enterprise Networking Market Size By Component (Product [Switches, Network Security{Firewall, Intrusion Prevention, Anti-virus/anti-malware, Secure Web Gateway (SWG), Mobile Device Security}, Wireless, Routers, Network Management], Service [Training & Consulting, Integration & Maintenance, Managed Service]), By Deployment Model ( On-premise, Cloud), By Application (BFSI, Healthcare, IT & Telecom, Manufacturing, Retail, Government & Public Sector, Energy & Utility), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, Netherlands, China, Japan, Australia & New Zealand (ANZ), South Korea, India, Singapore, Brazil, Mexico, Argentina, Colombia, South Africa, UAE, Saudi Arabia, Israel), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/enterprise-network-equipment-market
The manufacturing segment in the enterprise networking market is expected to grow at a CAGR of over 8% from 2018 to 2024. The manufacturing industry is witnessing an increase in the demand for network virtualization solutions to centralize administrative tasks while improving scalability and reducing workloads. The rise in the number of cloud IIoT solutions is also fueling the demand for networking solutions that provide real-time visibility control and analytics.
Asia Pacific enterprise networking market is poised to show the fastest growth rate of over 8% during the forecast timeline led by a huge adoption of cloud-based infrastructure as the companies are moving their workloads to the public cloud. According to the Cloud Security Alliance (CSA) in Asia Pacific, Japan, Singapore, South Korea, and China have witnessed the highest adoption of cloud platforms in 2017. The emergence of cloud computing environment has enabled disparate network architectures that add on to the operational burden. This has led to an increase in the demand for virtualization technology which adds agility to the computing environment and effectively addresses network demands.
The key players in the enterprise networking market are Arista, Broadcom, Checkpoint, Cisco, Dell Technologies, Extreme Networks, F5 Networks, FireEye, Fortinet, HPE, Huawei, Juniper, McAfee, Netscout, Palo Alto, Riverbed, Symantec, Trend Micro, and VMWare.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.