Enterprise networking has become an essential part of organisations. Its market share is going to increase further in the coming years.
What is the global enterprise networking market size?
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Enterprise networking market size
The global market size of enterprise networking reached nearly US$ 46 billion in 2019. The market size is forecasted to reach about US$ 60 billion by 2026.
Analysis of the enterprise networking market
Enterprise networks are comprised of routers, switches, and access points, which enables communication across the organisation in real-time. The speed of communication depends on hardware, protocol, software, and communication environments, used in the enterprise network. The size and coverage area of the enterprise network depends on the type and size of the enterprises.
The major components of enterprise networking are routers, switches, cables, and wireless access points, where switches account for the largest market share.
The main reason behind the larger market share of switches in enterprise networking includes the rise in demand for high-speed Ethernet switches. Switches are also used widely due to the ability to provide network flexibility, and it also facilitates with better security, which supports greater network control.
Key drivers in the market
Going forward, the manufacturing industry will account for the larger market share owing to automation, smart machines and demand for cloud IIoT solutions.
The Asia Pacific has the largest market share due to an increase in adoption of networking solutions and the rise in adoption of pubic clouds infrastructure for storage.
There is also high adoption of cloud services by countries such as China, Singapore, Japan, and South Korea.
Key companies in the enterprise networking market