Global Enterprise Networking Market Growth Prospects, Future Industry Landscape And Forecast To 2033

The enterprise networking market size has grown strongly in recent years. It will grow from $73.21 billion in 2023 to $79.64 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to raise in network automation, raise in artificial intelligence (AI) integration, increasing focus on network cost optimization, increasing internet of things (IoT) integration, increasing multi-cloud adoption.

The enterprise networking market size is expected to see strong growth in the next few years. It will grow to $113.09 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to increasing cloud adoption, increasing cybersecurity threats, increasing network analytics usage, growing software-defined networking (SDN), growing virtualization in networking. Major trends in the forecast period include the emergence of 5g and WIFI 6 technology, integration of security features with SD-wan technology, continued reliance on network automation, implementation of wi-fi 6 (802.11ax), technology advancements.

Market Overview -
Enterprise networking is an interconnected system of computing devices designed to accommodate the organization's growing needs by allowing for scalability and flexibility in adding new devices, users, and services. This networking is crucial in supporting day-to-day operations, collaboration, and innovation within modern organizations, enabling them to leverage technology effectively to achieve their business objectives.

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Rising Cybersecurity Threats Fuel Growth In The Enterprise Networking Market
The increasing cybersecurity threats are expected to propel the growth of the enterprise networking market going forward. Cybersecurity threats refer to malicious activities performed with the harmful intent to steal data, damage, or disrupt computing systems. Cybersecurity threats are increasing due to expanding attack surfaces, evolving tactics by malicious actors, the proliferation of connected devices, and the growing dependency on digital infrastructure across various sectors. Enterprise networks reduce cybersecurity threats by providing firewalls, secure access controls, network segmentation, regular updates, encryption, security monitoring, employee training, and endpoint security. For instance, according to the Identity Theft Resource Center (ITRC), a US-based non-profit organization, the number of data breaches surged by 78% between 2022 and 2023, rising from 1,801 to 3,205 incidents. Therefore, increasing cybersecurity threats are driving the growth of the enterprise networking market.

Competitive Landscape -
Major companies operating in the enterprise networking market are Dell Technologies Inc., Huawei Technologies Co. Ltd., Lenovo Group Limited, Cisco Systems Inc., Broadcom Inc., Hewlett Packard Enterprise Company (HPE), Nokia Corporation , CommScope Inc., Palo Alto Networks Inc., Juniper Networks Inc., Arista Networks Inc., Fortinet Inc., Citrix Systems Inc., F5 Networks Inc., Check Point Software Technologies Ltd., Ubiquiti Inc. , Riverbed HOLDINGS INC., Extreme Networks Inc., Zyxel Communications Corporation, ADTRAN Inc., NETGEAR Inc., D-Link Corporation, SonicWall Inc., Barracuda Networks Inc., Allied Telesis Inc.

Huawei's Net5.5G Intelligent Cloud-Network Solutions Lead Enterprise Networking Advancements
Major companies operating in the enterprise networking market are developing innovative technologies, such as Net5.5G intelligent cloud-network solutions, to establish a corporate network connecting an organization's employees, resources, and applications. Net5.5G intelligent cloud-network solutions integrate cloud computing technology with networking infrastructure to deliver scalable, flexible, and efficient networking services. For instance, in February 2024, Huawei Technologies Co. Ltd., a China-based manufacturing company that offers a range of innovative solutions in the realm of cloud networking, launched four Net5.5G intelligent cloud-network solutions to accelerate intelligent transformation and maximize digital productivity. These solutions include Net5.5G High-Quality 10 Gbps CloudCampus, Net5.5G Converged WAN, Net5.5G Ultra-Resilient Multi-DC Network, and Net5.5G HiSec SASE. These solutions aim to enhance network quality, improve digital services, ensure secure encryption, provide fault-tolerant services and offer integrated security protection for enterprise branches. Huawei's HiSec SASE Solution uses a safe and efficient network architecture. It differentiates itself with three features, including quick threat handling in seconds, industry-leading detection performance, and precise ransomware prevention.

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Key Segments -
The enterprise networking market covered in this report is segmented -
1) By Component: Product, Services
2) By Deployment Mode: Cloud-Based, On-Premises
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By End User: Aerospace And Defense, Education, Media And Communication, Healthcare, Banking, Financial Services, And Insurance (BFSI), Transportation And Logistics, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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