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.
The global enterprise networking market will also be acquiring sizable gains due to consumer preferences which are shifting towards converged infrastructure (converged network architecture) as well as towards network visualization technology implementation to merge the network functions together, allowing businesses to reduce their operational costs and improve network efficiency.
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Surging occurrences of cyber-attacks on IT networks in the financial sector have been instrumental in more and more institutions coming up with initiatives for the modernization of their network security policies. The targeting of banking institutions by hackers has been a major threat as they hold a significant amount of financial records and clientele information.
The enterprise networking market from BFSI sector is set to depict a commendable CAGR of more than 4 per cent through 2024. The rapid adoption of virtualization technology for sufficing to the emerging requirements of banks and other financial institutions will escalate market share through the ensuing years.
Increasing adoption of cloud-based models owing to an escalation in the volume of financial and business data will propel the demand for enterprise network applications through the anticipated period.
Enterprise networking market from cloud deployment is slated to exhibit a substantial CAGR of nearly 10 per cent through 2024. This rise is chiefly ascribed to the surging adoption of cloud-platforms for enhancing the efficiency of essential business processes.
Through the coming years, implementation of novel solutions for the advancement of networks and applications by major industry participants is set to augment market size.
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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.
Prominent enterprise networking companies include NetScout, Dell Technologies, Broadcom, Palo Alto Networks, Symantec Corporation, Extreme Networks, Fortinet, Inc., F5 Networks, Inc., and others.
Major Key Points from Table of Content:
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
Chapter 7. Enterprise Networking Market, By Application
7.1. Key trends, by application
7.2.1. BFSI market estimates and forecast, 2013-2024
7.3.1. Healthcare market estimates and forecast, 2013-2024
7.4.IT & telecom
7.4.1. IT & telecom market estimates and forecast, 2013-2024
7.5.1. Manufacturing market estimates and forecast, 2013-2024
7.6.1. Retail market estimates and forecast, 2013-2024
7.7. Government & public sector
7.7.1. Government & public sector market estimates and forecast, 2013-2024
7.8. Energy & utility
7.8.1. Energy & utility market estimates and forecast, 2013-2024
7.9.1. Others market estimates and forecast, 2013-2024
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