Press Release / Technology / Enterprise Networking Market Research Report 2024 - by Type, By Application, By Technology

Enterprise Networking Market Research Report 2024 - by Type, By Application, By Technology

North America held a major share of around 40% in the enterprise networking market in 2017 and is expected to dominate the market throughout the forecast period. The market growth is attributed to the increasing cases of cyber-thefts in defense & banking institutions. The growing complexity and diversity of cyber-attacks have driven the need among organizations to implement network traffic monitoring & security solutions to reduce the likelihood of large-scale data thefts. The growing popularity of BYOD and IoT trends has also resulted in the growth of cyber-crimes, forcing organizations to use network security solutions. An upsurge in connected devices in the region has made enterprise networks more complex. The evolving network landscape has generated the need among enterprises to reassess their network security infrastructure and adopt robust network monitoring solutions.

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The enterprise networking market growth is driven by the 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.

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.

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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 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.

To deal with the existing enterprise network complexities, the network operators are increasingly deploying virtualization solutions. For instance, in February 2018, TIM and Ericsson started digitalizing TIM’s nationwide radio access network in Italy. The partnership with Ericsson helped to augment the TIM’s transformation project DigiTIM, which aims to increase the enterprises’ operational efficiency through virtualization and automation of network systems. The increase in the number of cyber-attacks has driven the need among organizations to adopt security solutions. The companies are entering into strategic partnerships to provide network security solutions to the customers. For instance, in December 2017, BT and Symantec collaborated to provide endpoint protection for UK SMEs. SMEs are gaining the ability to leverage the Symantec endpoint protection capabilities as a clouds service, with the services intended to be tailored to BT customers.

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The key players in the enterprise networking market are Arista Networks, Broadcom Inc., Check Point Software Technologies, Ltd., Cisco, Dell Technologies, Extreme Networks, F5 Networks, FireEye, Inc., Fortinet, Hewlett Packard Enterprise, Huawei Technologies, Juniper Networks, McAfee, NETSCOUT, Palo Alto Networks, Riverbed Technology, Symantec and Trend Micro.

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