Network Devices Market Report 2024-2033 | Size, Trends, Growth Demand, Overview

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Network Devices Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The network devices market size has grown strongly in recent years. It will grow from $28.78 billion in 2023 to $30.55 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to Internet proliferation, transition to broadband, wireless revolution, 5G rollout, IoT expansion.

The network devices market size is expected to see strong growth in the next few years. It will grow to $41.26 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to security-centric design, IPv6 adoption sustainability and green networking, evolving connectivity standards. Major trends in the forecast period include early networking technologies (pre-1990), adoption of Wi-Fi 6 and 6E technology, growing demand for edge computing devices, increased focus on network security appliances.

Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=7779&type=smp

Market Segmentation:
The network device market covered in this report is segmented -

1) By Device Type: Router, Gateway, Access Point
2) By Type: Wired, Wireless
3) By Connectivity: Wi-Fi, Cellular, LoRa, ZigBee, Bluetooth, Other Connectivities
4) By Application: Residential, Commercial, Enterprise, Industrial, Transportation

Major Driver - Network Devices Market Thrives On Smartphone Proliferation And Digital Revolution
The rising use of smartphones coupled with growing digitalization is expected to drive the growth of the network devices market. The use of digitalization is expanding to create new business practices, cultures, and customer experiences or to adapt existing ones to meet shifting company and market needs. The smartphones demand is increasing due to rise in internet penetration, rising subscriptions to social media, increasing income levels, improved communication needs, and others. During the COVID-19 pandemic, the usage of smartphones along with digitalization dramatically increased due to long quarantine periods and work-from-home scenarios. This increase in smartphones and digitalization needs network devices to transfer data from one device to another efficiently. For instance, according to the survey of smartphone ownership commissioned by a nonpartisan American think tank, the Pew Research Center, the share of Americans that own a smartphone increased from 81% in February 2019 to 85% in February 2021, which was just 35% a decade ago (in 2011). Moreover, according to the World Economic Forum, digital transformation will add $100 trillion to the global economy by 2025. Therefore, the rising use of smartphones coupled with growing digitalization is going to propel the network devices market growth.

Competitive Landscape:
Major companies operating in the network devices market report are Dell Technologies, Huawei Technologies Co Ltd., Siemens AG, Cisco Systems Inc., Hewlett Packard Enterprise Development LP, Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Arista Networks Inc., Symantec Corporation, Avaya Inc., F5 Networks Inc., Checkpoint Software Technologies Ltd., Brocade Communications Systems Inc., Ubiquiti Inc., Trend Micro Inc., Extreme Networks Inc., Zyxel Communications Corporation, Netscout, D-Link Corporation, SonicWall, Riverbed Technology Inc., McAfee LLC, Barracuda Networks Inc., Allied Telesis Inc., Ruckus Networks, Cradlepoint, Aerohive Networks, WatchGuard Technologies Inc., TP-Link Technologies Co Ltd.

Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/network-devices-global-market-report

Top Trend - Pioneering Innovative Small And Medium-Sized Business Network Products
Major companies operating in the network devices market are focused on developing innovative solutions such as cloud network device. A cloud network device isn't a single specific piece of hardware, but rather a term for any virtual or software-based networking component that operates within a cloud computing environment. For instance, in October 2023, CyberTAN Technology Inc., a Taiwan-based broadband network equipment manufacturing company launched the 'CyberWiFi' cloud network product series. The product lineup comprises an Outdoor Long Range Fixed Wireless Access Point, Controller, Indoor Wall Mount Access Point, Managed Switch, and Indoor Ceiling Mount Access Point. The CyberWiFi products showcase a proprietary cloud platform developed in-house, integrating crucial management functionalities tailored for small and medium-sized enterprise networks.

The Table Of Content For The Market Report Include:

1. Executive Summary
2. Network Devices Market Characteristics
3. Network Devices Market Trends And Strategies
4. Network Devices Market - Macro Economic Scenario
5. Network Devices Market Size And Growth
…..
27. Network Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.

This release was published on openPR.