Enterprise Networking Market worth $175.2 billion by 2029 - Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., Sept. 4, 2024 /PRNewswire/ -- The Enterprise Networking Market is estimated at USD 115.8 billion in 2024 to USD 175.2 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 8.6%, according to a new report by MarketsandMarkets™. Enterprise networking refers to a complex, large communication system that integrates an organization's computers, devices, and data centers into a network for resource sharing and information exchange. With the advent of 5G networking, a significant change is being realized within enterprise networking. Zero-trust security models are being deployed assuming that no device, user, or system has to be trusted by default, not even when it is within the perimeter of the network. Enterprise networking acts as the backbone for most modern organizations, which helps different entities communicate, collaborate and enables access to important applications and data. In this respect, demand and opportunities for enterprise networks increase hand in hand with the evolution of technology.
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2018–2029 |
Base year considered | 2023 |
Forecast period | 2024–2029 |
Forecast units | Value (USD) Billion |
Segments covered | Offering, End User, Network, Deployment Mode, Connection Type, Technology, and Region |
Region covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Companies covered | Cisco Systems (US), Broadcom (US), Hewlett Packard Enterprise (US), Juniper Networks (US), Huawei (China), Cloudflare(US), Arista Networks (US), Alcatel-Lucent Enterprise (France), Extreme Networks, Inc. (US), Riverbed Technology (US), Check Point Software Technologies (Israel), SolarWinds (US), Fortinet (US), Palo Alto Networks (US), Pica8 (US), Versa Networks (US), Aryaka Networks Inc., (US), F5 Networks (US), flexiWAN (Israel), Peplink (US), Lavelle Networks (India), A10 Networks (US), Cato Networks (Israel), Cambium Networks (US), Megaport (Australia), and Bigleaf Networks (US). |
Based on network, the campus network segment to hold the largest market size during the forecast period.
Campus environments involve large-scale service to physically concentrated buildings or a geographic area, such as corporate headquarters, universities, or large enterprises. This is a network of high-performance networking, Wi-Fi, security, and management across several buildings or buildings connected by bridges. A campus network represents huge infrastructure investment in fixed and wireless networking, security, and management solutions. The campus networks market is vast, specifically within the higher education setting, the large enterprise, health, and government sectors. This, in many terms, often requires a higher spending; something which most very large networks require in order to be sophisticated and scalable.
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By end user, enterprise segment is expected to hold a higher growth rate during the forecast period.
Enterprises form a large chunk of the market in terms of IT spending, which includes networking equipment, security solutions, and software. Large enterprises, especially in finance, healthcare, and technology, invest heavily in their networks to drive operations. Increasingly, they turn to SD-WAN, network security solutions, and cloud-based services for networking to support digital transformation, remote work, and hybrid clouds. The size of the enterprise market varies from industry to industry; for instance, some enterprises such as those operating in the finance, healthcare, and manufacturing sectors spend heavily on networking solutions because they are mission-critical and need secure and reliable connectivity. Enterprises make for a big, ever-expanding market, especially as they further adapt new technologies and grow their digital capabilities.
North America is expected to hold the largest market size during the forecast period.
North American enterprise networking is undergoing significant change, driven by the accelerating adoption of new technologies, shifting business needs, and evolving cybersecurity threats. Hybrid and multi-cloud strategies are being adopted by enterprises as a means to obtain the flexibility, scalability, and cost-effectiveness found in cloud services while keeping their sensitive data and critical applications under control. This has made it easy for businesses to leverage cloud resources and cloud-native networking solutions, such as cloud-managed routers and firewalls. Enterprises are integrating more AI and ML into SDN and SD-WAN to bring improvement to network automation, predictability, and security. Sustainability is being focused in enterprise networking, with organizations targeting a reduction in carbon footprint and energy consumed via increased efficiency of network designs and operations.
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Top Key Companies in Enterprise Networking Market:
The major vendors covered in the Enterprise Networking Market are Cisco Systems (US), Broadcom (US), Hewlett Packard Enterprise (US), Juniper Networks (US), Extreme Networks, Inc. (US), Huawei (China), Fortinet (US), Cloudflare, Inc. (US), Alcatel-Lucent Enterprise (France), Arista Networks (US), Riverbed Technology (US), Check Point Software Technologies Ltd. (Israel), SolarWinds Corporation (US), F5 Networks (US), Palo Alto Networks (US), Pica8 (US), Versa Networks (US), Aryaka Networks Inc. (US), A10 Networks, Inc. (US), Cato Networks Ltd. (Israel), Cambium Networks (US), Megaport (Australia), flexiWAN (Israel), Peplink (US), Lavelle Networks (India), and Bigleaf Networks (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Enterprise Networking Market.
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