The Business Research Company’s report on the Network Devices Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the network devices market in recent years?
The rising use of smartphones coupled with growing digitalization is expected to drive the growth of the network devices market. The use of digitalization is expanding to create new business practices, cultures, and customer experiences or to adapt existing ones to meet shifting company and market needs. The smartphones demand is increasing due to rise in internet penetration, rising subscriptions to social media, increasing income levels, improved communication needs, and others. During the COVID-19 pandemic, the usage of smartphones along with digitalization dramatically increased due to long quarantine periods and work-from-home scenarios. This increase in smartphones and digitalization needs network devices to transfer data from one device to another efficiently. For instance, in 2023, an estimated 92% of Americans owned a smartphone, reflecting significant growth in mobile device usage. Moreover, according to the World Economic Forum, digital transformation is projected to contribute an impressive $100 trillion to the global economy by 2025, underscoring its vital role in driving demand for network devices. Additionally, as of 2023, the estimated number of internet users worldwide reached 5.4 billion, an increase from 5.3 billion in the previous year, further illustrating the rising need for effective network solutions. Therefore, the rising use of smartphones coupled with growing digitalization is going to propel the network devices market growth.
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What is the projected market size of the network devices industry, and how is it expected to grow?
The network devices market size has grown steadily in recent years. It will grow from $29.84 billion in 2024 to $31.33 billion in 2025 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to Internet proliferation, transition to broadband, wireless revolution, 5G rollout, IoT expansion.
The network devices market size is expected to see rapid growth in the next few years. It will grow to $46.02 billion in 2029 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to security-centric design, IPv6 adoption sustainability and green networking, evolving connectivity standards. Major trends in the forecast period include early networking technologies (pre-1990), adoption of Wi-Fi 6 and 6E technology, growing demand for edge computing devices, increased focus on network security appliances.
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Who are the key players driving competition in the network devices market?
Major companies operating in the network devices market include Dell Technologies, Huawei, Siemens AG, Cisco Systems, Hewlett Packard Enterprise, Juniper Networks, Fortinet, Arista Networks, Avaya, F5 Networks, Brocade Communications (via Broadcom), Ubiquiti, Extreme Networks, Zyxel Communications, Netscout, D-Link, SonicWall, Riverbed Technology, Barracuda Networks, Allied Telesis, Ruckus Networks, Cradlepoint, Aerohive Networks, WatchGuard Technologies, TP-Link Technologies.
What key trends are expected to drive the network as a service market during the forecast period?
Technological innovations are a key trend gaining popularity in the network devices market. Major companies operating in the network devices market are developing new products or technologies, such as SD-WAN, to strengthen the demand for network devices. A software-defined wide area network (SD-WAN) is a virtual wide area network type that enables businesses to employ any mix of transport services, such as MPLS, LTE, and broadband internet services, to safely connect users to applications. This improves user experience and application performance, which boosts corporate productivity and agility and lowers IT expenses. For instance, in May 2022, Nokia, a Finland-based telecommunications, information technology, and consumer electronics corporation, and STC (Saudi Telecommunication Company), a Saudi-Arabia-based digital enabler of telecommunications services, introduced stc SD-WAN. stc SD-WAN will enable the company’s IT and OT to modify their network services to fit rapidly evolving commercial contexts. The program aims to support its enterprise customers’ cloud migration and digital transformation journey.
Which key geographies are driving the growth of the network devices market?
North America was the largest region in the network devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the network devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the network devices market?
The network devices market covered in this report is segmented –
1) By Device Type: Router, Gateway, Access Point
2) By Type: Wired, Wireless
3) By Connectivity: Wi-Fi, Cellular, LoRa, ZigBee, Bluetooth, Other Connectivities
4) By Application: Residential, Commercial, Enterprise, Industrial, Transportation
Subsegments:
1) By Router: Wired Routers, Wireless Routers, Core Routers, Edge Routers
2) By Gateway: Network Gateways, Iot Gateways, Security Gateways, Protocol Gateways
3) By Access Point: Wireless Access Points (WAPs), Indoor Access Points, Outdoor Access Points, Controller-Based Access Points
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What defines the structure and scope of the network devices market?
Network devices refer to a piece of hardware or software whose primary function is to direct and regulate communications among computers or computer networks. Network devices execute the fundamental tasks required to support network establishment and maintenance, including data transmission and reception.
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