GROWTH PROJECTIONS OF NETWORK DEVICES MARKET IN REALISTIC, OPTIMISTIC, AND PESSIMISTIC SCENARIOS
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.
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:
·
Germany’s
Federal Ministry for Economic Affairs and Energy has open bids for private 5G
networks license bands in the range of 3.7–3.8 GHz.
·
The
German government is expected to raise USD 7.2 billion for 420 MHz of 5G
spectrums.
·
Rapid
growth in the 5G network is expected to boost the global network device market
in the US.
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.
The network devices market is a
huge ecosystem with several vendors delivering solutions at every stage. The
market has a few vendors that offer the entire spectrum of solutions and
services for household enterprises. Integrators play a major role in deploying
complete network systems for enterprises. These vendors have a partnership with
all the technology vendors; in some cases, integrators buy the network
infrastructure components. Telecom operators and services (who own the
frequency spectrum) provide end-to-end cellular network deployment to
enterprises. For instance, AT&T, Cisco, Vodafone, Ericsson, Huawei, and
Juniper Networks have delivered enterprise networks to businesses all over the
globe. Similarly, integrators also play a key role in servicing commercial and
industrial customers. Household network devices, on the other hand, are sold
and distributed directly from brick-and-mortar retailers or online retailers.
The industrial Internet of Things
(IIoT) is making the use of smart sensors and actuators to enhance
manufacturing and industrial processes. Also known as the industrial Internet
or Industry 4.0, IIoT uses the power of smart machines and real-time analytics
to take advantage of the data generated by machines. Hence, industrial sensors
are wirelessly connected to routers, gateways, and access points. The
automotive industry extensively uses industrial robots, and IIoT helps to
proactively maintain these systems and spot potential problems before they can
disrupt production. The emergence of 5G will likely affect the use of IIoT
devices. The high throughput and low latency of 5G makes it possible for
devices to share data in real time. This real-time connectivity will support
the use of 5G enabled, rugged routers and gateways in the market.
Worldwide Interoperability for
Microwave Access (WiMAX) technology provides wider network coverage and acts as
a replacement for cable and Digital Subscriber Line (DSL). It is used to
provide Internet services, such as mobile data and hotspots. WiMAX is known as
802.16 in IEEE standards and operates in 2.5/3.5/5.8 GHz bands. It is mainly
used for connecting several sites, such as offices, buildings, and homes. WiMAX
and WiFi carry the same capabilities for data connectivity with a technical
difference: while WiFi is used to create small networks and connect printers,
computers, and gaming consoles, WiMax uses a spectrum to deliver the connection
to the network.
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