Ocean View, DE -- (SBWIRE) -- 05/04/2020 -- Enterprise networking market from cloud deployment is estimated to achieve a CAGR of around 10% over 2018-2024. Cloud-based enterprise networking solutions have gained immense popularity owing to their cost economy and availability in public and hybrid cloud options. Cloud adoption helps in evading upfront capital costs and the hassles of managing computers and networks.
With organizations progressively resorting to network management solutions to address increasing modern-day business complexities and reduce operational costs, global enterprise networking market is anticipated to witness massive gains in the ensuing years. A combination of factors can be credited to the growth of the market, including the proliferation of connected devices and consolidating trend of Bring Your Own Device (BYOD), which have prompted organizations to implement endpoint protection strategies.
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Another factor driving the enterprise networking market growth is the extensive adoption of machine learning to solve a broad range of networking and security challenges. Machine learning algorithms are used to monitor networks, deliver insights in case of anomalies, and recommend how to best optimize the network. Emerging network analytics services powered by AI and machine learning are being increasingly used to transform traditional network infrastructure management models.
Anti-virus solutions held a majority of the market share in 2017 and are expected to maintain the market dominance in the enterprise networking markets due to rising instances of malware attacks on enterprise networks. As several malware programs are created by attackers each day, the demand for robust antimalware solutions is expected to increase over the forecast timeline.
The cloud deployment market is estimated to grow at a CAGR of around 10% over the forecast timeline. This market growth is attributed to the growing adoption of the cloud-platforms to improve the efficiency of critical business processes. Organizations are adopting cloud-based models due to an increase in the volume of business and financial data and the need for reducing additional hardware maintenance costs.
The BFSI vertical in the enterprise networking market is expected to grow at a CAGR of over 4% from 2018 to 2024. Hackers are targeting banking institutions as they hold huge amounts of customer information and their financial records. The growing instances of cyber-attacks on financial IT networks have prompted institutions to undertake initiatives for modernizing their network security policies. Also, banks are rapidly adopting the virtualization technology due to the emerging needs of banks and other financial institutions to have an infrastructure that can accommodate multi-channel digital services and handle increasing data flows.
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The Europe enterprise networking market is expected to hold a market share of over 20% by 2024 due to the rising internet penetration, attracting a lot of malware and viruses to halt enterprise networks. According to a recent study by the European Union Agency for Network and Information Security (ENISA), major cyber-attacks using ransomware were among the top cyber-attacks reported in 2016.
Table of Contents (ToC) of the report:
Chapter 5.Enterprise Networking Market, By Component
5.1.Key trends, by component
5.2.1. Product market estimates and forecast, 2013-2024
22.214.171.124.Switches market estimates and forecast, 2013-2024
5.2.3. Network security
126.96.36.199.Network security market estimates and forecast, 2013-2024
188.8.131.52.1.Firewall market estimates and forecast, 2013-2024
184.108.40.206.1.Intrusion prevention market estimates and forecast, 2013-2024
220.127.116.11.1.Anti-virus/anti-malware market estimates and forecast, 2013-2024
18.104.22.168.Secure Web Gateway (SWG)
22.214.171.124.1.IoT modules market estimates and forecast, 2013-2024
126.96.36.199.Mobile device security
188.8.131.52.1.Mobile device security market estimates and forecast, 2013-2024
184.108.40.206.1.Others market estimates and forecast, 2013-2024
220.127.116.11.Wireless market estimates and forecast, 2013-2024
18.104.22.168.Routers market estimates and forecast, 2013-2024
5.2.6. Network management
22.214.171.124.Network management market estimates and forecast, 2013-2024
5.3.1. Service market estimates and forecast, 2013-2024
5.3.2. Training & consulting
126.96.36.199.Training & consulting market estimates and forecast, 2013-2024
5.3.3. Integration & maintenance
188.8.131.52.Integration & maintenance market estimates and forecast, 2013-2024
5.3.4. Managed service
184.108.40.206.Managed service market estimates and forecast, 2013-2024
Chapter 6.Enterprise Networking Market, By Deployment Model
6.1.Key trends, by deployment model
6.2.1. On-premise market estimates and forecast, 2013-2024
6.3.1. Cloud market estimates and forecast, 2013-2024
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