The global Enterprise Network LAN Equipment Market is estimated to be valued at US$6.01 Bn in 2023 and is expected to exhibit a CAGR of 4.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Enterprise Network LAN Equipment includes switches, routers, network interface cards etc. These equipment help in connecting various devices like computers, printers, servers within an organization to share data, resources and Internet connectivity. Such Equipment enhance productivity and efficiency within organizations.
Market key trends:
One of the key trends in the Enterprise Network LAN Equipment Market is the growth of SD-WAN technology. SD-WAN helps enterprises use multiple internet connections like broadband, LTE etc in a more efficient way for connectivity. It ensures priority bandwidth allocation for critical applications and enables better application performance. This has improved agility of networks and simplified WAN management for organizations migrating to cloud. SD-WAN also reduces dependency on MPLS networks thereby saving costs for enterprises.
Market key trends:
The enterprise network LAN equipment market is witnessing considerable growth owing to increasing digital transformation across industries. Various organizations are upgrading their existing network infrastructure to enhance connectivity, modernize operations and support new technologies like IoT, cloud and big data analytics. This has resulted in higher demand for modern network switches, wireless LAN equipment, routers and other networking devices in the recent years. Furthermore, rise of work from home culture amid pandemic has further accelerated this demand as remote connectivity became the norm.
SWOT Analysis
Strength: High reliability and security of enterprise level networking equipment allows organizations to smoothly carry out critical business operations.
Weakness: Frequent need for upgrades and replacement leads to higher maintenance costs for organizations.
Opportunity: Demand for high speed networking devices from industries adopting cutting-edge technologies like artificial intelligence and 5G.
Threats: Component shortages can hamper equipment manufacturing and deliveries in volatile supply chain environment. Price wars among vendors may squeeze profit margins.
Key Takeaways
The global enterprise network LAN equipment market size was valued at US$ 6.01 Billion in 2023 and is expected to reach over US$ 10 Billion by 2030, expanding at a CAGR of 4.1% during the forecast period. North America dominated the market in 2023 with over 30% revenue share owing to heavy investments by organizations in network infrastructure upgrades.
Europe is also a major regional market for enterprise network LAN equipment supported by increasing adoption of digital workplace initiatives across industries in the region. The Asia Pacific market is projected to witness the fastest growth during the forecast years with a CAGR of around 5% led by network modernization programs underway in various countries like China, India and South Korea.
Key players operating in the enterprise network LAN equipment market are Poly Plus Battery Co., Mullen Technologies Inc., Tesla, Inc., Lithium Air Industries, Inc. These companies are focusing on development of innovative products with higher speeds and bandwidth to capitalize on emerging business opportunities.
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