The enterprise networking market growth is driven by the surge in connected devices that will generate a need for secure & real-time communication between devices.

Sellbyville, DE -- (SBWire) -- 04/02/2019 --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.

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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.

The switches segment held a major share of the enterprise networking market in 2017, amounting to over 25%. To meet the growing network capacity demands, the enterprises rely on high-speed ethernet switches, which enable them to support various devices and allow high transmission rates. The rising demand for high-speed data services is driving the adoption of network switching technology, enabling enterprise networks to address the requirements for high-availability, unified communications, and virtualization.

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.
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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.

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.

The North America enterprise networking market is projected to witness significant growth in the years to come, a feat that can be credited to the increasing prominence of myriad cyber-threats and attacks in the region. According to a study by the Center for Strategic & International Studies (CSIS), since 2006, North America recorded a massive amount of significant cyber security incidents – mainly from the United States, which by far witnesses the greatest number of cyber security incidents as compared to other nations by a wide margin.

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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.

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