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Network Devices Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The network devices market is expected to grow from USD 26.4 billion in 2022 to USD 36.4 billion by 2027, at a CAGR of 6.6% during the forecast period. Organizations globally are implementing technologically advanced applications through digital transformation across their verticals, thus raising the requirement for fast wireless network connectivity, including WiFi 6, WiFi 6E and 5G. The number of internet users around the world is also rapidly increasing owing to the growing smartphone penetration and enhanced connectivity. An increase in demand for connected devices that require a sophisticated Internet connection for seamless functionality is expected to boost the demand for network devices.

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5G networks will provide next-generation connectivity for enterprises. They offer low latency, higher throughput, and greater precision in enterprise operations. High speed and bandwidth enable enterprise solution providers to provide a high-quality network experience to their clients. 5G networks use 5G non-standalone and standalone architecture, utilizing licensed and unlicensed bands specifically designed for highly mission-critical business applications. These networks also use a network slicing technique that helps enterprises effectively make use of the available resources. North America and Europe have shown a positive approach toward deploying 5G networks. For instance:

• Germany's Federal Ministry for Economic Affairs and Energy has open bids for private 5G networks license bands in the range of 3.7-3.8 GHz.
• The German government is expected to raise USD 7.2 billion for 420 MHz of 5G spectrums.
• Rapid growth in the 5G network is expected to boost the global network device market in the US.

The 802.11ax (WiFi 6) standard, known as High-Efficiency WLAN, has been certified by the WiFi Alliance in August 2019. WiFi 6 aims to improve the performance in WLAN deployments in dense scenarios, such as sports stadiums and airports, while still operating in the 2.4GHz and 5GHz spectrum. The IEEE was scheduled to ratify the 802.11ax amendment in Q1 2021. However, WLAN vendors had already released 802.11ax products before the ratification of the amendment. Continued upgrades in WiFi standards are expected to provide growth opportunities to market vendors to offer standardized WiFi offerings in the market. WiFi 6E is the latest WiFi protocol operating in the 6GHz band. Vendors such as ASUSTek and NETGEAR are offering WiFi 6E routers.

The network devices market is a huge ecosystem with several vendors delivering solutions at every stage. The market has a few vendors that offer the entire spectrum of solutions and services for household enterprises. Integrators play a major role in deploying complete network systems for enterprises. These vendors have a partnership with all the technology vendors; in some cases, integrators buy the network infrastructure components. Telecom operators and services (who own the frequency spectrum) provide end-to-end cellular network deployment to enterprises. For instance, AT&T, Cisco, Vodafone, Ericsson, Huawei, and Juniper Networks have delivered enterprise networks to businesses all over the globe. Similarly, integrators also play a key role in servicing commercial and industrial customers. Household network devices, on the other hand, are sold and distributed directly from brick-and-mortar retailers or online retailers.

The industrial Internet of Things (IIoT) is making the use of smart sensors and actuators to enhance manufacturing and industrial processes. Also known as the industrial Internet or Industry 4.0, IIoT uses the power of smart machines and real-time analytics to take advantage of the data generated by machines. Hence, industrial sensors are wirelessly connected to routers, gateways, and access points. The automotive industry extensively uses industrial robots, and IIoT helps to proactively maintain these systems and spot potential problems before they can disrupt production. The emergence of 5G will likely affect the use of IIoT devices. The high throughput and low latency of 5G makes it possible for devices to share data in real time. This real-time connectivity will support the use of 5G enabled, rugged routers and gateways in the market.

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Worldwide Interoperability for Microwave Access (WiMAX) technology provides wider network coverage and acts as a replacement for cable and Digital Subscriber Line (DSL). It is used to provide Internet services, such as mobile data and hotspots. WiMAX is known as 802.16 in IEEE standards and operates in 2.5/3.5/5.8 GHz bands. It is mainly used for connecting several sites, such as offices, buildings, and homes. WiMAX and WiFi carry the same capabilities for data connectivity with a technical difference: while WiFi is used to create small networks and connect printers, computers, and gaming consoles, WiMax uses a spectrum to deliver the connection to the network.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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