Why Enterprise Networking Market is Booming So Rapidly? Industry In-Depth Analysis with Growing Trends | Arista Networks, Broadcom Inc., Check Point Software Technologies, Ltd., Cisco, Dell Technologies, Extreme Networks, F5 Networks, FireEye, Inc., Forti

Enterprise networking market share from BFSI application is likely to achieve a CAGR of more than 4% over 2018-2024. Evolving needs of the industry to accommodate multi-channel digital services is compelling industry participants to adopt a range of virtualization approaches to manage increasing business complexities and handle overflowing data volume.

Elaborating further on enterprise networking application spectrum, the healthcare industry is yet another major avenue exhibiting accelerated adoption of the technology. Rising degree of threats across the healthcare industry due to the assimilation of contemporary technologies such as IoT and AI is fueling the market growth in this vertical. Enterprise networking market share from healthcare applications is likely to register a CAGR of over 8% over 2018-2024.

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With organizations progressively resorting to network management solutions to address increasing modern-day business complexities and reduce operational costs, global enterprise networking market is anticipated to witness massive gains in the ensuing years. A combination of factors can be credited to the growth of the market, including the proliferation of connected devices and consolidating trend of Bring Your Own Device (BYOD), which have prompted organizations to implement endpoint protection strategies.

Enterprise networking solutions have become necessary for the continuity of vital business processing in the era of digitization, where businesses are increasingly becoming reliant on modern-day technologies. In addition, the onslaught of new technologies such as machine learning, big data, and artificial intelligence is further propelling the enterprise networking market outlook. Rise in cybersecurity threats, augmenting need to manage network assets and heightened demand for enhanced connectivity to support bandwidth intensive applications are other major factors driving enterprise networking market growth.

Europe has emerged as a prominent growth window for enterprise networking market. The region has witnessed a dramatic rise in the incidence of cyber-attacks in recent years. The National Cyber Security Centre (NCSC) reported over 34 significant cyberattacks and 762 minor cyberattacks in the UK in 2017. Such towering cases of cyber espionages, especially in France, Germany and the UK are triggering enterprise networking market demand.

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Growing focus on curtailing operational cost, increasing penetration of connected devices, and the need to address network complexities arising out of changing business needs are other factors favoring regional market growth. Moreover, government initiatives to combat cyber security issues is likely to further catapult the market size in the coming years. In November 2016, the UK government invested around 2.4 billion towards the security of critical national infrastructure as a part of its five-year National Cyber Security Strategy. Europe is likely to procure almost 20% of the global enterprise networking market share by 2024.

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