Press release
Global Network Devices Market: Internet Proliferation, 5G Rollout, and IoT Expansion Fuelling Growth of Network Devices Market
Network Devices Market Share
Robust CAGR and Technology Adoption Set to Drive the Network Devices Market to $46.02 Billion by 2029
What Is The Projected Market Size Of The Global Network Devices Market And Its Growth Rate?
The Global Network Devices Market has experienced consistent growth over recent years showing significant potential.
• The market will grow from $29.84 billion in 2024 to $31.33 billion in 2025, at a compound annual growth rate (CAGR) of 5.0%.
• The market size is anticipated to jump significantly to $46.02 billion in 2029 at a CAGR of 10.1%.
• This growth can be attributed to developments such as internet proliferation, the transition to broadband, wireless revolution, the rollout of 5G, and the expansion of IoT.
What Is Driving The Growth In The Network Devices Market?
The expansion of the network devices market is primarily fuelled by the sharp increase in smartphone usage intertwined with the rise of digitalization. Digital transformation is forming new business practices and adapting the existing ones to meet shifting market needs. The demand for smartphones is on the rise, boosted by factors such as internet penetration, social media subscription surge, increase in income levels, and communication needs. During the COVID-19 pandemic, the use of smartphones and digitalization dramatically soared, highlighting the need for efficient network devices for data transfer. For instance, in 2023, an estimated 92% of Americans owned smartphones. Moreover, the projected contribution of digital transformation to the global economy is an astonishing $100 trillion by 2025, supporting the growing demand for network devices.
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Who Are the Key Players Driving Network Devices Market Growth?
• Dell Technologies
• Huawei, Siemens AG
• Cisco Systems
• Hewlett Packard Enterprise
• Juniper Networks
• Fortinet
• Arista Networks
• Avaya
• F5 Networks
• Brocade Communications (via Broadcom)
• Ubiquiti
• Extreme Networks
• Zyxel Communications
• Netscout
• D-Link
• SonicWall
• Riverbed Technology
• Barracuda Networks
• Allied Telesis
• Ruckus Networks
• Cradlepoint
• Aerohive Networks, WatchGuard Technologies
• TP-Link Technologies
What Are The Key Trends In The Network Devices Market?
Key trends include:
• Emergence of 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
What Are The Segments Of The Global Network Devices Market?
• By Device Type: Router, Gateway, Access Point
• By Type: Wired, Wireless
• By Connectivity: Wi-Fi, Cellular, LoRa, ZigBee, Bluetooth, Other Connectivities
• By Application: Residential, Commercial, Enterprise, Industrial, Transportation
Which Region Leads The Network Devices Market?
North America dominated the network devices market in 2024, while Asia-Pacific is expected to be the fastest-growing region during the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Network Devices Market Global Market Report?
Market Size Analysis: Analyze the Network Devices Market size by key regions, countries, product types, and applications.
Market Segmentation Analysis: Identify various subsegments within the Network Devices Market for effective categorization.
Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
Market Contribution: Evaluate contributions of different segments to the overall Network Devices Market growth.
Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
Industry Challenges: Analyze challenges and risks affecting the Network Devices Market.
Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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