Enterprise Networking Market: Growth Amid New Technological Possibilities

The global enterprise networking market, in the years to come, is anticipated to be majorly driven by the surging demands for real-time & secure communication between devices due to booming connected device sales. Global enterprises, in an effort to overcome the escalating bandwidth bottleneck and network traffic issues, are adopting network management solutions for managing rising network traffic while also ensuring an enhanced network security. Moreover, with an exponential rise in the use of a plethora of different Internet of Things (IoT) devices fueling the rise of a diverse array of security risks that are usually associated with IoT devices that are unsecured, companies are rolling out enterprise network security solutions to secure their respective organization's network and obtain visibility of endpoints as well as unsecured applications & devices.
Other factors driving the enterprise networking market demand are shifting consumer preferences toward converged network architecture and the implementation of network virtualization technology to consolidate the network functions, enabling businesses to improve network efficiency and reduce operational costs. The increase in the mobility of enterprise users creates networking & management complexities, resulting in the demand for convergence. The converged enterprise network management systems play an important role in allowing enterprises to diagnose network issues. These systems provide an end-to-end visibility and enable network operators to view the converged network architecture.
Integration & maintenance services in the enterprise networking market held a major market share of over 42% in 2017. The integration services enable enterprises to control risks, costs, and quality through a planned deployment process. An enterprise network transformation requires changes both in infrastructure and the way networks are managed. This transformation accelerates the demand for network maintenance services. The maintenance solutions give customers the ability to upscale or downscale the services on demand and help clients achieve optimal performance from their networking systems.
The manufacturing segment in the enterprise networking market is expected to grow at a CAGR of over 8% from 2018 to 2024. The manufacturing industry is witnessing an increase in the demand for network virtualization solutions to centralize administrative tasks while improving scalability and reducing workloads. The rise in the number of cloud IIoT solutions is also fueling the demand for networking solutions that provide real-time visibility control and analytics.
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The on-premise deployment model held a major share of the enterprise networking market as this model enables IT architects to configure solutions to match their needs. These solutions help businesses to ensure that their networks are running securely and giving them direct control to access the data and control security of the computing infrastructure.
APAC enterprise networking market is primarily driven by the large-scale adoption of cloud-based infrastructure in the region as the organizations are actively transferring their workloads onto the public cloud. According to a report by the not-for-profit organization, Cloud Security Alliance (CSA), in APAC, Japan, South Korea, Singapore & China are some of the primary nations that have witnessed the highest cloud adoption rate in 2017. The rising prominence of the cloud computing environment has further enabled network architectures that are disparate in nature to contribute to the increasing operational burden. These circumstances have led to a significant rise in demand for virtualization technology which makes the computing environment more agile, effectively addressing the growing network demands.
Attributing to the increasing network capacity needs across several global enterprises, the growth graph of enterprise networking market is projected to witness an exponential incline in the years ahead. According to Global Market Insights Inc., enterprise networking market size is expected to be pegged at a mammoth $90 billion by 2024.
The key players in the enterprise networking market are Arista, Broadcom, Checkpoint, Cisco, Dell Technologies, Extreme Networks, F5 Networks, FireEye, Fortinet, HPE, Huawei, Juniper, McAfee, Netscout, Palo Alto, Riverbed, Symantec, Trend Micro, and VMWare
To deal with the existing enterprise network complexities, the network operators are increasingly deploying virtualization solutions. For instance, in February 2018, TIM and Ericsson started digitalizing TIM's nationwide radio access network in Italy. The partnership with Ericsson helped to augment the TIM's transformation project DigiTIM, which aims to increase the enterprises' operational efficiency through virtualization and automation of network systems. The increase in the number of cyber-attacks has driven the need among organizations to adopt security solutions. The companies are entering into strategic partnerships to provide network security solutions to the customers. For instance, in December 2017, BT and Symantec collaborated to provide endpoint protection for UK SMEs. SMEs are gaining the ability to leverage the Symantec endpoint protection capabilities as a clouds service, with the services intended to be tailored to BT customers.