Routers to account for the largest share of the network devices market
The network devices market is expected to grow from USD 26.4 billion in 2022 to USD 36.4 billion by 2027, at a CAGR of 6.6% during the forecast period. Organizations globally are implementing technologically advanced applications through digital transformation across their verticals, thus raising the requirement for fast wireless network connectivity, including WiFi 6, WiFi 6E and 5G. The number of internet users around the world is also rapidly increasing owing to the growing smartphone penetration and enhanced connectivity. An increase in demand for connected devices that require a sophisticated Internet connection for seamless functionality is expected to boost the demand for network devices.
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5G networks will provide next-generation connectivity for enterprises. They offer low latency, higher throughput, and greater precision in enterprise operations. High speed and bandwidth enable enterprise solution providers to provide a high-quality network experience to their clients. 5G networks use 5G non-standalone and standalone architecture, utilizing licensed and unlicensed bands specifically designed for highly mission-critical business applications. These networks also use a network slicing technique that helps enterprises effectively make use of the available resources. North America and Europe have shown a positive approach toward deploying 5G networks. For instance:
The 802.11ax (WiFi 6) standard, known as High-Efficiency WLAN, has been certified by the WiFi Alliance in August 2019. WiFi 6 aims to improve the performance in WLAN deployments in dense scenarios, such as sports stadiums and airports, while still operating in the 2.4GHz and 5GHz spectrum. The IEEE was scheduled to ratify the 802.11ax amendment in Q1 2021. However, WLAN vendors had already released 802.11ax products before the ratification of the amendment. Continued upgrades in WiFi standards are expected to provide growth opportunities to market vendors to offer standardized WiFi offerings in the market. WiFi 6E is the latest WiFi protocol operating in the 6GHz band. Vendors such as ASUSTek and NETGEAR are offering WiFi 6E routers.
Major vendors in the network devices market include Cisco Systems (US), Cradlepoint (US), Juniper Networks (US), Huawei (China), HP Enterprise (US), Digi International (US), Sierra Wireless (Canada), Nokia (Finland), Inseego (US), Teltokina Networks (Lithuania), Extreme Networks (US), D-Link (Taiwan), TP-LINK (China), Moxa (Taiwan), Adtran (US), Schneider Electric (France), General Electric (US), Siemens (Germany), Multitech (US), Casa Systems (US), Advantech (Taiwan), Robustel (China), Lantronix (US), HMS Networks (Sweden), ASUSTek Computer (Taiwan), and Belkin International (US).
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