How big is the Enterprise Network Equipment Market?

The Enterprise Network Equipment Market size is expected to reach USD 72.44 billion in 2024 and grow at a CAGR of 11.35% to reach USD 124.00 billion by 2029. Read More

What is the current Enterprise Network Equipment Market size?

In 2024, the Enterprise Network Equipment Market size is expected to reach USD 72.44 billion. Read More

Who are the key players in Enterprise Network Equipment Market?

Cisco Systems Inc., Hewlett Packard Enterprise Development LP, Huawei Technologies Co. Ltd., Juniper Networks Inc. and Arista Networks Inc. are the major companies operating in the Enterprise Network Equipment Market. Read More

Which is the fastest growing region in Enterprise Network Equipment Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Enterprise Network Equipment Market?

In 2024, the North America accounts for the largest market share in Enterprise Network Equipment Market. Read More

What years does this Enterprise Network Equipment Market cover, and what was the market size in 2023?

In 2023, the Enterprise Network Equipment Market size was estimated at USD 65.06 billion. The report covers the Enterprise Network Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Enterprise Network Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What challenges does the Enterprise Networking Equipment Market face?

The key challenges faced by the Enterprise Networking Equipment Market: a) Cybersecurity threats b) High costs of advanced network equipment c) Complexity of network management and integration Read More

Enterprise Network Equipment Market Trends

Market Trends of Enterprise Network Equipment Industry

This section covers the major market trends shaping the Enterprise Network Equipment Market according to our research experts:

Network Security is Growing Due to Data Security Concerns

The market's growth is attributed to the increasing cases of cyber thefts in banking and defense institutions. The growing complexity and diversity of cyber-attacks have driven the need among organizations to implement network security equipment to reduce the likelihood of large-scale data thefts.
Many organizations are reaching for more robust cybersecurity strategies apart from implementing traditional firewalls and controlling user access. This creates an excellent opportunity for developers to bring new defense approaches to the table. Incorporating AI to develop intuitive, efficient systems will allow businesses to use smart machine capabilities to detect threats early and use proactive strategies in defending their information.
Due to the rapidly increasing growth of digital organizations, IT professionals consider the lack of visibility as one of the biggest challenges being faced in addressing network threats. Most organizations recognize how critical it is to constantly monitor their network across all users, applications, and devices. Organizations are implementing networking and security teams to work more closely and leverage network infrastructure to extend visibility everywhere and avoid data breaches or cybersecurity threats.
Additionally, the growing popularity of IoT and BYOD trends has also resulted in the growth of cyber-crimes, forcing organizations to use network security solutions. The rise in connected devices in the region has made enterprise networks more complex. The evolving network landscape has generated the need among enterprises to reassess their network security infrastructure and adopt robust network solutions.
Moreover, according to Cisco, 46% of network devices will be M2M or IoT in the upcoming years, which are vulnerable to attacks. To fully realize the potential of these connected devices, industries need to be equipped with WANs that are flexible to meet the network demands anticipated over the future.

Enterprise Network Equipment Market: Annual number of data breaches and exposed records in the United States, in millions, (2005-2019)

Understand The Key Trends Shaping This Market

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North America is Expected to Have Significant Market Share

North America is expected to hold a prominent share of the enterprise network equipment market. Moreover, the region has a strong foothold of network equipment vendors. Some of them include Cisco Systems, Inc., Dell EMC, Juniper Networks, Inc., Extreme Networks, Inc., and Arista Networks, Inc., among others, which contribute to the growth of the market.
The vendors operating in the region are working on enterprise network equipment technologies to strengthen their product capabilities. An effective long-term work-from-home solution has to deliver a secure, enterprise-like experience that enhances efficiency, creativity, and productivity. Unlike solutions that use repurposed consumer network equipment, Aruba provides enterprise-class telework hardware coupled with plug-and-play installation, identity-based security, and cloud-native management for rapid, simple, and scalable deployment.
The emergence of trending technologies, such as cloud networking, SaaS-based application, network analytics, DevOps, and virtualization, has encouraged users and businesses in North America to undertake enterprise network equipment products. Also, the rising demand for cloud adoption, digital content, and new data sovereignty laws will further drive the North American region's network equipment market in the near future.
Also, the advances in automation technology cater to the IT sector's current business needs through smart networks and quick remediation, which continuously check the network and offer a resolution without involving any third-party application.
United States Department of Defense has invested a massive amount in modernizing its infrastructure in the past. Defense Systems Information Agency announced its plan to upgrade the Defense Information Systems Network (DISN) with 10 gigabits per second (Gbps) transport speeds to a 100 Gbps packet-optical transport system. Such investments are expected to boost the market.