Network Equipment Market to Reach $69.7 Billion, by 2032 at 9.2% CAGR: Allied Market Research
Rise in digitalization and increase in adoption of advanced technologies such as IoT across the globe positively impact the growth of the market.
NEW CASTLE, Del., Nov. 22, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Network Equipment Market by Type (Switches, Routers, Gateway, Fiber Optic Equipment, and Others), Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises), and Application (IT & Telecom, BFSI, Retail & E-commerce, Government & Defense, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the network equipment industry generated $29,845.63 million in 2022, and is projected to reach at $ 69,712.13 million by 2032, witnessing a CAGR of 9.2% from 2023 to 2032.
Prime determinants of growth
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The switches segment to maintain its leadership status throughout the forecast period
The large enterprises segment to maintain its lead position during the forecast period
The IT & Telecom segment to maintain its leadership status throughout the forecast period
North America region to maintain its dominance by 2032
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Leading Market Players: -
The report provides a detailed analysis of these key players in the network equipment market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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