Network Devices Market to Witness a CAGR of 6% (2022-2028) Due to Rapid Pace of Technological Advancement in the Telecommunications and Home Networking Devices Industry | Jobs Reply


NOIDA, India, December 15, 2022 /PRNewswire/ — According to a new report published by UnivDatos Markets Insights, the Network Devices Market was valued at USD 24 billion in 2020 and it is expected to grow at a CAGR of around 6% from 2022-2028. The analysis is segmented into Connectivity (WiFi, Cellular, LoRa, Zigbee, and Bluetooth); Device Type (Router, Gateway, Access Point); Application (Residential, Commercial, Industrial and other.) Region/Country.

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The network devices market report has been aggregated by gathering informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report uses a number of analyzes to gain a closer view of the network devices market. The network devices market report offers a detailed analysis of the latest industry developments and market trending factors influencing the growth of the market. In addition, this repository of market research statistics examines and estimates the network devices market on a global and regional level.

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Market Overview

The devices used for communication between different hardware used in the computer network are called network devices. These devices are also called physical devices, networking hardware, and network equipment, or computer networking devices. In a computer network, each network device plays a central role based on its functionality, and also works for different purposes at different segments. The increasing adoption of network devices can be attributed to the increasing number of smartphone users and improved connectivity across the globe. In addition, the rapid technological advancements in the telecommunications industry, home networking and smart home devices are expected to drive the market. For example, according to earthweb.com, there are more than 250 million smart homes in the world in the year 2022.

The Network Devices Market is expected to grow at a steady rate of around 6% due to the increased use of translation services in the entertainment and media industry. The major companies in the market that offer network devices are Cisco Systems, Cradlepoint, Juniper Networks, Huawei, HP Enterprise, Digi International, Sierra Wireless, Nokia, Inseego, and Teltokina Networks.

Impact of Covid-19

Due to Covid-19, the market declined in 2020 due to government lockdown regulations, temporary shutdown of manufacturing facilities, supply chain disruptions, limited production capacity, labor shortages, and reduced demand in major end-use industries. However, post-covid due to the rising trend of working from home, the market is expected to recover quickly.

  • Based on connectivity, the market is segmented into WiFi, cellular, LoRa, ZigBee, and Bluetooth. The WiFi segment is expected to witness a significant CAGR during the forecast period. The increasing adoption of the Wi-Fi segment can be attributed to the advances made in Wi-Fi technology in recent years. In addition, the penetration of smartphones is expected to drive the market.
  • Based on device type, the market is segmented into router, gateway and access point. The router segment is expected to grow at a strong CAGR, increasing adoption of routers can be attributed to the increasing need for high-speed Internet connectivity and increasing adoption of smart devices such as smartphones, tablets and smart TVs is driving the demand . for wireless routers with efficient connectivity in the residential sector.

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Geographical Segmentation of Network Devices Market includes:

  • North America (United States, Canadaand the rest of it North America)
  • Europe (Germany, United Kingdom, Spain, Italy, Franceand the rest of it Europe)
  • Asia-Pacific (China, Japan, Indiaand the rest of it Asia-Pacific)
  • The rest of the world

In 2020, North America Expected to grow at a significant CAGR, the increased adoption can be attributed to the increased demand for wireless and WiFi hotspot solutions and services. In addition, increasing digitization of the organization’s operations is expected to propel the market in the region. Moreover, the governments of countries in the region like the United States of America and Canada investing heavily in the advancement of internet technology to make it more refined. The main players in the market of network devices in the USA and Canada striving to offer the largest suite of networking products and solutions, providing a great opportunity for regional companies to increase their business footprint. The presence of major networking solutions and service providers, including Cisco Systems, ArubaJuniper Networks, and Extreme Networks, in this region, is a major factor responsible for the growth of the North American market.

The major players focused on the market include

  • Cisco Systems
  • Cradlepoint
  • Juniper Networks
  • Huawei
  • HP Enterprise
  • Digi International
  • Sierra wireless
  • Nokia Company
  • Inseego
  • Teltokina networks

Competitive Landscape

The degree of competition among leading global companies has increased by analyzing some key players operating worldwide. The specialist team of research analysts shed light on various characteristics such as global market competition, market share, latest industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the country. Network Devices Market. The key players were analyzed using research methodologies to gain insight into global competition.

Key questions addressed through this market research analysis report include:

  • What are the latest trends, new patterns, and technological advancements in the network devices market?
  • What factors will influence the network devices market over the forecast period?
  • What are the global network devices market challenges, threats and risks?
  • What factors are driving and restraining the network devices market?
  • Which are the demanding global regions of the network devices market?
  • What will the global market size be in the coming years?
  • What are the critical market acquisition strategies and policies implemented by global companies?

We understand the needs of different businesses, regions and countries, we provide customized reports according to your needs regarding the nature of business and geography. Let us know if you have any custom requirements.

About UnivDatos Market Insights (UMI)

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Network Devices Market Report Cover

Feature Descriptione

Details

Primary year

2020

Forecast period

2022-2028

Growth momentum

Accelerate at a CAGR of 6%

Market size 2020

USD 24 billion

Regional analysis

North America, Europe, APAC, Rest of the World

Major contributing region

North America to greatly influence the Global Network Devices Market

Main countries covered

United States, Canada, Germany, United Kingdom, Italy, France, China, Japan, India

Companies profiled

Cisco Systems, Cradlepoint, Juniper Networks, Huawei, HP Enterprise, Digi International,
Sierra Wireless, Nokia, Inseego, and Teltokina Networks.

Scope of Report

Market Trends, Drivers and Constraints; Revenue Estimation and Forecasting; Separation
Analysis; Impact of COVID-19; Demand and Supply Side Analysis; c
Competitive Landscape; Company Profiling

Covered Segments

By Cinactivity; By Device Type; By Application; By Region/Country

About UnivDatos Market Insights (UMI)

UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Custom Business Research, and Primary Research. Our research studies are spread across subjects worldwide, we cover markets in more than 100 countries using smart research techniques and agile methodologies. We provide in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

Contact

UnivDatos Market Insights
Ankita Gupta
Director of Operations
Tel: +91-7838604911
Email: [email protected]
website: https://univdatos.com/

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SOURCE UnivDatos Market Insights Pvt. Ltd.



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