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

Report Description

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.

 Reasons to buy this report:

• The study includes market sizing and forecasting Analytics validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers in-depth Analytics of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level Analytics of the industry.

Customization Options:

The global network devices market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Network Devices Market Analytics (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global network devices market were the three major steps undertaken to create and analyze the adoption of network devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global network devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analytics of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the network devices market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the network devices market, we conducted detailed secondary Analytics to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as co. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analytics:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor Analytics to estimate the current market size of the network devices market. Further, we conducted factor Analytics using dependent and independent variables such as connectivity, device type, and application. A thorough Analytics was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the network devices market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global network devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the network devices market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global network devices market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical Analytics was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global network devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of connectivity, device type and application in the global network devices market.

The main objective of the Global Network Devices Market Study

The current & future market trends of the global network devices market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative Analytics performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the network devices market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of connectivity, device type, and application.
• Define and Analytics of the regulatory framework for the translation service
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the network devices market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the network devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level Analytics of the industry

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