New York, June 27, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Network Device Market by Connectivity, Device Type, Application and Geography – Global Forecast to 2027” – https://www .reportlinker. com/p06288921/?utm_source=GNW
Major industry sectors want to automate and digitize their business processes to streamline business operations and generate new business revenue opportunities. As the number of Internet users is expected to continue to increase significantly in the coming years, the demand for network devices including routers, gateways, and access points is also expected to increase simultaneously. The majority of connectivity devices and hardware used for wireless network deployment are sourced from China due to the region’s low cost advantage; however, in the early days of the pandemic, most countries stopped their import and export business to some extent to prevent the spread of COVID-19. With a decline in the supply of network modules and connectivity hardware, the enterprise sector has taken a hit in 2020.
WiFi Hotspot Market will have the Highest CAGR during the forecast period
The network device market for WiFi hotspot is expected to grow at the highest CAGR during the forecast period. The growing inclination towards smartphones, laptops and tablets is creating an increase in demand for Internet service providers and access point (AP) providers.
This should create a conducive environment for the access point market. Rising demand for hotspots to enhance digital infrastructure in commercial and enterprise sectors in India, China, and Japan is expected to drive the hotspot market.
Favorable government initiatives to promote digitalization and industrialization of developing economies will also have a positive influence on the market. AP devices have become necessary for many businesses, institutions and home users.
Using hotspots can help eliminate problems with poor Wi-Fi coverage, slow connectivity, dead zones, and weak signals.
Outdoor Network Devices Segment to Witness Higher Growth Throughout the Forecast Period
The vast majority of deployed routers are neither rugged nor weatherproof and are deployed in indoor environments such as homes, retail stores, manufacturing facilities, and offices. In fact, almost all network devices (especially gateways) are deployed indoors.
Wi-Fi is not suitable for long range outdoor use and outdoor routers use cellular connectivity. Outdoor 4G/LTE routers are ideal for providing optimal network connectivity to outdoor environments such as oil and mining sites, and for serving as reliable communication networks for mission-critical communication applications. 4G LTE routers can also provide an excellent 4G LTE connection allowing instant POS setup for credit card access in remote areas where there is no fixed internet connection. Since cellular and outdoor routers and access points are comparatively more expensive than indoor WiFi routers, the indoor router segment held the largest market share.
Industrial Applications Market is Expected to Grow at the Highest CAGR Over the Forecast Period
The industrial networking market is expected to register the highest CAGR during the forecast period. Industrial applications primarily include utilities (energy and water) and automated manufacturing.
Industrial networks deal with large scale data transfer. Since the inception of Industry 4.0, the penetration of AI and IIoT technologies in the manufacturing sector has increased rapidly. Systems integrated with AI and IIoT help optimize manufacturing processes, send early warnings, help with quality control, and predict equipment failures in machines. By gathering accurate data, manufacturers can develop innovative AI applications to differentiate themselves from their competitors.
APAC Market Expected to Grow at Highest CAGR Over Forecast Period
The network device market in APAC is expected to witness the fastest growth over the forecast period. The APAC region is also a leading industrial hub and an emerging and important market for several other sectors.
Growing internet penetration in commercial and industrial spaces, along with increasing reach of wireless connectivity and improving IT infrastructure are some of the major drivers driving the growth of the network devices market in APAC. In February 2021, China’s Ministry of Industry announced plans for a high-tech transformation of manufacturing to offset rising production costs and consolidate its position in the global supply chain.
Beijing will help modernize the industry with advances in 5G, cloud computing and IoT. China aims to build 30 fully connected 5G factories in 10 key industries by 2023; the country has accelerated the development of industrial internet through integration with 5G technologies. These initiatives are expected to fuel the growth of the Industrial Internet in the APAC region.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, in-depth primary interviews were conducted with key industry experts on the Network Devices market. The breakdown of key contributors to the report is shown below:
• By type of business: Level 1: 40%, Level 2: 35% and Level 3: 25%
• By designation: C-level executives – 35%, administrators – 40% and others – 25%
• By region: North America – 40%, APAC – 30%, Europe – 20% and Rest of the world – 10%
The report presents the major players of the Network Devices market with their respective market ranking analysis. Major Players profiled in this report are Cisco Systems (US), Cradlepoint (US), Juniper Networks (US), Huawei (China), HP Enterprise (US), Digi International (US) ), Sierra Wireless (Canada), Nokia (Finland), Inseego (USA), Teltokina Networks (Lithuania), Extreme Networks (USA), D-Link (Taiwan), TP-LINK (China), Moxa ( Taiwan), Adtran (USA), Schneider Electric (France), General Electric (USA), Siemens (Germany), Multitech (USA), Casa Systems (USA), Advantech (Taiwan), Robustel (China), Lantronix (US), HMS Networks (Sweden), ASUSTek Computer (Taiwan) and Belkin International (US).
This research report categorizes the network devices market on the basis of device type, type, connectivity, application, and geography. The report depicts the key drivers, restraints, challenges, and opportunities pertaining to the Network Devices market and forecasts the same till 2027 (including -19 market impact analysis).
Apart from these, the report also includes leadership mapping and analysis of all the companies included in the network device ecosystem.
Key Benefits of Purchasing the Report
The report would help the leaders/new entrants in this market in the following ways:
1. This report segments the Network Devices market comprehensively and provides the closest market size projection for all sub-segments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with insights into the key market drivers, restraints, challenges and growth opportunities.
3. This report would help the stakeholders to better understand their competitors and acquire more information to improve their position in the business. The competitive landscape section includes competitor ecosystem, product launches, offerings, and expansions.
4. Analysis of top 27 companies based on market ranking strength as well as product footprint will help stakeholders visualize the market positioning of these key players.
Read the full report: https://www.reportlinker.com/p06288921/?utm_source=GNW
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