Key Driver Transforming the Network Devices Market in 2024: Rising Use Of Smartphone Proliferation & Digital Revolution

Network Devices Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

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The network devices market is expanding steadily, projected to grow from $28.78 billion in 2023 to $30.55 billion in 2024 at a CAGR of 6.2%. Growth is driven by Internet penetration, broadband adoption, the wireless boom, 5G advancements, and IoT expansion.

How Much Will the Global Network Devices Market Grow, and What Is the Predicted Annual Growth Rate?
The network devices market, expected to grow to $41.26 billion by 2028 at a CAGR of 7.8%, is driven by security design, IPv6, and connectivity standards. Trends include Wi-Fi 6/6E adoption, edge computing growth, and network security enhancements.

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What Are The Top Drivers Contributing To The Growth Of The Network Devices Market?
The rise in smartphone usage and the push for digitalization are expected to drive the network devices market. Digitalization transforms business practices and customer experiences to meet evolving needs. The increasing demand for smartphones, driven by internet access, social media usage, higher incomes, and communication needs, surged during the COVID-19 pandemic. Consequently, the demand for network devices to facilitate data transfer has risen.

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Which Companies Are Leading Growth in the Network Devices Market?
Major companies operating in the market report are Dell Technologies, Huawei Technologies Co Ltd., Siemens AG, Cisco Systems Inc., Hewlett Packard Enterprise Development LP, Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Arista Networks Inc., Symantec Corporation, Avaya Inc., F5 Networks Inc., Checkpoint Software Technologies Ltd., Brocade Communications Systems Inc., Ubiquiti Inc., Trend Micro Inc., Extreme Networks Inc., Zyxel Communications Corporation, Netscout, D-Link Corporation.

What Are the Key Trends Defining the Network Devices Market Size?
In the network devices global market, technological innovations are on the rise. Companies are developing new technologies, such as SD-WAN, to fuel demand for network devices. SD-WAN, a virtual network, allows businesses to connect users to applications securely while enhancing user experience, application performance, and reducing IT costs.

What Are The Key Segments Of The Global Network Devices Market?
1) By Device Type: Router, Gateway, Access Point
2) By Type: Wired, Wireless
3) By Connectivity: Wi-Fi, Cellular, LoRa, ZigBee, Bluetooth, Other Connectivities
4) By Application: Residential, Commercial, Enterprise, Industrial, Transportation

Geographical Highlights: North America Leading Network Devices Market
North America was the largest region in the network devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is The Definition And Scope Of The Network Devices Market Overview?
Network devices are hardware or software components that manage and regulate communication between computers or networks. They play a crucial role in network setup, maintenance, and data transmission.

The Network Devices Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Network Devices Market Report: Trends, Opportunities, Strategies, and More
The Network Devices Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into network devices market size, network devices market drivers and trends, network devices global market major players, network devices competitors' revenues, network devices global market positioning, and network devices market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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