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 are devices used to build connectivity within an organization helping in sharing of data, voice and video over a computer network. These equipment includes switches, routers, network interface cards and software among others. They enable building of a secure, stable and scalable networking infrastructure within an organization helping in smooth business operations.
Market key trends:
The adoption of Artificial Intelligence (AI) technology is accelerating across various industries to optimize business processes. AI uses self-learning algorithms, predictive analytics and machine learning abilities to process huge amounts of data and automate repetitive tasks. Integration of AI capabilities in networking equipment helps in managing security risks, improving performance and streamlining operations. For example, AI-enabled features like intelligent workload routing and automated troubleshooting are improving the infrastructure management. Growing focus on digital transformation is augmenting the demand for AI-powered networking solutions, thereby driving theEnterprise Network LAN Equipment Market growth.
Segment Analysis
The global enterprise network LAN equipment market is dominated by switches segment, owing to increase in the requirement of high-performance networking infrastructure within organizations. Switches play a crucial role in smooth transfer of data across the internal network of an enterprise. Moreover, rise in bandwidth consumption has prompted enterprises to upgrade existing switch infrastructure.
Key Takeaways
The global enterprise network LAN equipment market is expected to witness high growth, exhibiting CAGR of 4.1% over the forecast period, due to increasing digital transformation across industries.
The market size for 2023 is US$6.01 billion. North America dominated the global market in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to presence of major technology players and early adoption of advanced technologies across industries in the region.
Asia Pacific is expected to witness fastest growth over the forecast period. Growing IT infrastructure in countries such as China and India is driving the demand for networking equipment in the region.
Key players operating in the enterprise network LAN equipment market are Poly Plus Battery Co., Mullen Technologies Inc., Tesla, Inc., and Lithium Air Industries, Inc. Strategic partnerships and mergers & acquisitions are among the key strategies adopted by these players to gain competitive edge in the market.
