The global networking products market is expected to grow at a significant CAGR during the forecast period 2024-2031. The networking products are wireless communication systems that enable the connection between computers and related devices among the enterprises and workgroup networks which facilitate insight and data accessibility. These networking products are incorporated to inhibit the communication protocol, promotes device and system interoperability, enhance the external and internal enterprise data management.
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The global networking products market was attributed towards a sequential growth due to rising investment in research and development activities. The increasing technological advancement, emerging bandwidth requirements with IoT prevalence and increasing government initiatives to develop smart cities in emerging economies are some vital market drivers projected to exhibit beneficial growth in the global networking products market.
Meanwhile, the rising demand for wireless devices and internet-enabled equipment in an organization to enhance the efficiency of production surge the growth of the Networking Products market. The trends for networking products is increasing gradually as the demand for BYOD is rapidly emerging to compel the need for the wireless network and mission-critical mobility application. The rapid digitization and emerging IT technologies will further be expected to raise the growth of the global networking products market during the forecast period.
The available vendors in the global networking products market adopt various strategies to expand the product portfolio. Technological advancement, emerging supply chain, mergers and acquisitions and conquer restraining factors are some major strategies that are acquired by the market players to explore the global networking products market. For instance, in February 2020, Cisco and NEC plan to merge to deliver networking products with improved supply chain management to expand the market growth.
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Market Coverage
- Segment Covered-
o By Product Type
o By Application
- Competitive Landscape- Riverbed, Cisco System Inc., HP, Huawei, NetScout.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Networking Products Market by Segment
By Product Type
- Routers
- Hubs
- LAN Modems
- LAN Switches
- Network Interface Cards
By Application
- Government
- Financial Agencies
- Communications
- Education
- Health Care
- Manufacturing
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