The Enterprise Communication Infrastructure Market size is estimated at USD 95.06 billion in 2024, and is expected to reach USD 214.26 billion by 2029, growing at a CAGR of 17.65% during the forecast period (2024-2029).
The rising need to upgrade outdated IT communication infrastructure drives organizations to invest in the enterprise communication infrastructure market.
The primary driver behind the investments in the enterprise communication infrastructure market has been the continuous evolution and application of new and advanced communication technologies. Moreover, the growing demand for advanced collaboration tools, the rising adoption of cloud-based communication solutions, and the increasing emphasis on digital transformation are estimated to drive the market growth opportunities considerably.
Also, the growing smartphone penetration rate, owing to the rising BYOD policies worldwide, is expected to provide immense growth opportunities for the enterprise communication infrastructure market during the forecast period.
The adoption of cloud services also continues to influence enterprise spending. Cloud-based solutions are also helping organizations create a more effective unified platform for internal and external communication. The growing adoption of cloud services, especially among SMEs, promotes further market development.
In September 2023, Ericsson declared a key milestone in the company's strategy to build a global network platform business with network APIs. Ericsson and Deutsche Telekom (DT) introduced a commercial partnership to provide communication and network APIs to enterprises and developers. Creating a global platform to expose advanced 5G capabilities, including quality on demand, latency, speed, and location through easy-to-consume network APIs, is one of the significant components of Ericsson's enterprise strategy. This would enable developers and enterprises to combine network features into their applications, enhancing enterprise digitalization and building new ways for operators to monetize their overall network investments.
However, the growing data security concerns and poor IT infrastructure, especially in developing regions, are some factors that can restrain the market growth during the forecast period.
The enterprise communication infrastructure market is highly fragmented due to the presence of many players. Some of the key players in the market include Cisco, IBM, and Microsoft. Some key recent developments in the market include:
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