Network Devices Market: Current Analysis and Forecast (2022-2028)

Network Devices Market: Current Analysis and Forecast (2022-2028)

The global Network Devices Market is expected to grow at a significant rate of around 6% during the forecast period. The devices which are used for communication between different hardware used in the computer network are known as network devices. These devices are also known as physical devices, networking hardware, and network equipment otherwise computer networking devices. In a computer network, each network device plays a key role based on its functionality, and also works for different purposes at different segments. The growing adoption of network devices can be attributed to the expanding number of smartphone users and improved connectivity across the globe. Furthermore, the rapid technological advancements in the telecom industry, home networking and smart home devices are expected to drive the market. For instance, according to earthweb.com, there are more than 250 million smart homes in the world in the year 2022.

Cisco Systems, Cradlepoint, Juniper Networks, Huawei, HP Enterprise, Digi International, Sierra Wireless, Nokia, Inseego, Teltokina Networks are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst connectivity, WiFi category to witness higher CAGR during the forecast period”

Based on connectivity, the market is segmented into WiFi, cellular, LoRa, ZigBee, and Bluetooth. WiFi-based devices are expected to achieve significant growth during the forecast period. The growing prominence of WiFi-based devices can be attributed to the growing demand for IoT devices and smart homes. Furthermore, the growing trend of work-from is expected to significantly influence the WiFi market.
"Amongst device type, the router segment is expected to hold a significant share in the market in 2020”

Based on device type, the market is segmented into router, gateway, and access point. The router segment is expected to grow with a robust CAGR, the growing adoption of routers can be attributed to the growing need for high-speed internet connectivity and the rising adoption of smart devices such as smartphones, tablets, and smart TVs are driving the demand for wireless routers with effective connectivity in the residential sector.
"North America to hold a significant share in the market”

In 2020, North America is expected to grow with a significant CAGR, the growing adoption can be attributed to the growing demand for wireless and WiFi hotspot solutions and services. Furthermore, the growing digitization of the organization’s operations is expected to drive the market in the region. Moreover, governments of countries in the region like the U.S.A and Canada are investing heavily in the advancement of internet technology to make it more refined. The key players in the network devices market in the U.S and Canada are making efforts to offer the largest suite of networking products and solutions, thereby providing a great opportunity for regional companies to increase their business footprint. Also, the presence of the major networking solution and service providers, including Cisco Systems, Aruba, Juniper Networks, and Extreme Networks, in this region, is a major factor responsible for the growth of the North American market.  

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• Deep dive regional level Analytics of the industry.