Enterprise Networking Market 2022: Comprehensive Industry Analysis, Market Size, Driving Factors, Share, Growth, Trends, Countries, and Forecast to 2024
Category: #energy-and-environment  By Ronak Bora  Date: 2022-06-21
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Enterprise Networking Market 2022: Comprehensive Industry Analysis, Market Size, Driving Factors, Share, Growth, Trends, Countries, and Forecast to 2024

The global enterprise networking market size is estimated to surpass USD 90 million by 2024. The demand for effective data and network security is one of the major parameters driving enterprise networking market. Speaking on the efforts pertaining to the development of robust cyber security infrastructure in enterprise networking, a team of MIT researchers has recently deployed machine learning for the analysis of BGP routing announcements. Capable of locating suspicious BGP shenanigans, these machine learning systems have spotted nearly 800 shady networks that might be hijacking data for months or even years via identification of suspicious characteristics.

These findings not only comprise single sources containing IP addresses from multiple countries but also record the time for which these blocks stay online. As observed, the legitimate ones tend to remain active for an average period of two years, whereas the malicious ones only last for an average tenure of 50 days.

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Such studies have been propelling the development of strong enterprise network technologies for ensuring data security of enterprises and are touted to propel industry demand through the coming years.

This demand is chiefly attributed to the surging incidents of malware attacks on corporate as well as government networks. Multiple enterprise network solutions comprising intrusion prevention, firewalls, and web content filtering provide businesses with an entire control over the content, applications, and users, assisting them in the detection and prevention of any potential threats.

Extensive utilization of enterprise security solutions is, therefore, poised to augment enterprise networking market size through the estimated period.

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Some prominent trends impelling enterprise networking market outlook comprise:

Increasing adoption of virtualization technology to propel BFSI vertical growth

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 enterprise networking market share through the ensuing years.

Rising internet penetration to boost Europe enterprise networking market growth

Increasing penetration of the internet in European countries has been responsible for a large number of virus and malware attacks causing disruptions in enterprise networks. Europe enterprise networking market is poised to hold a remarkable share of over 20 per cent through 2024.

According to ENISA (The European Union Agency for Network and Information Security), of the attacks reported in 2016, cyber-attacks using ransomware stood amongst the prominent cyber-attacks in the region.

A surge in the cyber-attacks in countries comprising Germany, Italy, and the UK has also encouraged enterprises and government agencies to proceed with the adoption of improved cybersecurity policies and networking solutions.

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Cloud deployment market to contribute an appreciable share to enterprise networking industry growth

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 enterprise networking market size. Prominent enterprise networking companies include NetScout, Dell Technologies, Broadcom, Palo Alto Networks, Symantec Corporation, Extreme Networks, Fortinet, Inc., F5 Networks, Inc., and others.

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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