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The network devices market is expected to grow from USD 26.4 billion in 2022 and is projected to reach USD 36.4 billion by 2027; it is expected to grow at a CAGR of 6.6%
during the forecast period. WiFi network deployment helps enterprises rapidly build and connect business applications. The WiFi network also provides greater flexibility, scalability, reliability, and cost-effective benefits in connecting mission-critical business applications.
New York, June 27, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Network Devices Market by Connectivity, Device Type, Application and Geography - Global Forecast to 2027" - https://www.reportlinker.com/p06288921/?utm_source=GNW
Core industry sectors are keen on automating and digitalizing their business processes to streamline business operations and drive new business revenue opportunities. As the number of Internet users is expected to continue to grow significantly in coming years, the demand for network devices including routers, gateways and access points is also expected to rise simultaneously.The majority of devices and connectivity hardware used for wireless network deployment are sourced from China due to the region’s low-cost advantage; however, in the early days of the pandemic, most countries ceased their imports and export activities to some extent to avoid the spread of COVID-19. With a decline in the supply of networking modules and connectivity hardware, the enterprise sector witnessed a major hit in 2020.
Market for WiFI access points to have highest CAGR during the forecast period
The network devices market for WiFi access points is expected to grow at the highest CAGR during the forecast period.The growing inclination towards smartphones, laptops, and tablets is creating a surge in demand for Internet service providers and access point (AP) providers.
This is expected to result in a conducive environment for the access points market.Increasing demand for access points to improve the digital infrastructure across commercial and enterprise sectors in India, China, and Japan is expected to boost the AP market.
Favorable government initiatives to promote the digitalization and industrialization of developing economies will also positively influence the market.AP devices have become necessary for many businesses, institutions, and home users.
The use of APs can help eliminate the problems of poor WiFi coverage, slow connectivity, dead zones, and weak signals.
Outdoor network devices segment to have higher growth throughout the forecast period
The vast majority of routers deployed are not rugged and weatherproof and are deployed in indoor settings such as homes, retail stores, manufacturing facilities, and offices.In fact, almost all network devices (especially gateways) are deployed indoors.
WiFi is not suitable for long range outdoor use, and outdoor routers use cellular connectivity. Outdoor 4G/LTE routers are ideal for delivering optimal network connectivity to outdoor environments such as oil and mining sites, and to serve as reliable communication backbones for critical communication applications.4G LTE routers can also provide an excellent 4G LTE connection enabling instant POS setup for credit card access in remote areas where there is no fixed line Internet connection. Since cellular and outdoor routers and APs are comparatively more expensive than indoor WiFi routers, the indoor routers segment held the larger share of the market.
Market for industrial application to grow at highest CAGR during the forecast period
The market for industrial networking is expected to record the highest CAGR during the forecast period.Industrial applications mainly include utilities (energy and water) and automated manufacturing.
Industrial networks deal with transfer of data on a large scale.Since the inception of Industry 4.0, the penetration of AI and IIoT technologies in the manufacturing sector has been increasing rapidly. AI-and IIoT-Integrated systems allow optimization of manufacturing processes,send early alerts, contribute to quality control, and forecast equipment failure in machinery. By gathering precise data, manufacturers can develop innovative AI applications to differentiate themselves from their competitors.
Market in APAC to grow at highest CAGR during the forecast period
The network devices market in APAC is expected to see the fastest growth during the forecast period.The APAC region is a leading industrial hub and an emerging and important market for several other sectors as well.
The growing penetration of the Internet across the commercial and industrial spaces, as well as increasing reach of wireless connectivity and improving IT infrastructure are among the key determinants of growth forthe network devices market in APAC.In February 2021, China’s Ministry of Industry announced plans for a hi-tech transformation of manufacturing to offset rising production costs and consolidate its position in the global supplychain.
Beijing will help modernize the sector with advancements in 5G, cloud computing and IoT. China aims to build 30 fully connected 5G factories in 10 key industries by 2023;the country has fast-tracked industrial Internet development through integration with 5G technologies.These initiatives are expected to fuel th egrowth of industrial Internet inthe APAC region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the network devices marketspace. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1– 40%, Tier 2– 35%, and Tier 3 – 25%
• By Designation: C-level Executives– 35%, Directors– 40%, and Others – 25%
• By Region:North America–40%,APAC– 30%, Europe – 20%,and RoW – 10%
The report profiles key players in the network devices market with their respective market ranking analysis. Prominent players profiled in this report areCisco Systems (US), Cradlepoint (US), Juniper Networks (US), Huawei (China), HP Enterprise (US), Digi International (US), Sierra Wireless (Canada), Nokia (Finland), Inseego (US), Teltokina Networks (Lithuania), Extreme Networks (US), D-Link (Taiwan), TP-LINK (China), Moxa (Taiwan), Adtran (US), Schneider Electric (France), General Electric (US), Siemens (Germany), Multitech (US), Casa Systems (US), Advantech (Taiwan), Robustel (China), Lantronix (US), HMS Networks (Sweden), ASUSTek Computer (Taiwan), and Belkin International (US).
Research Coverage:
This research report categorizes the network devices marketon the basis ofdevice type, type, connectivity, application, and geography.The report describes the major drivers, restraints, challenges, and opportunities pertaining tothenetwork devices market and forecasts the same till 2027(including analysis of COVID-19 impact on the market).
Apart from these, the report also consists of leadership mapping and analysis of all the companies included in thenetwork devices ecosystem.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the network devices market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product launches, deals, and expansions.
4. The analysis of the top 27 companies, based on the strength of the market rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
Read the full report: https://www.reportlinker.com/p06288921/?utm_source=GNW
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