The global enterprise networking market size was USD 40.06 billion in 2015, in 2019 the market size was estimated at USD 48.0 billion and is expected to reach USD 50.6 billion in 2020 with expected growth rate of USD 65 billion in 2024.
Enterprise networking market is rapidly growing demand for connected devices across the globe is one of the pivotal factors driving, given that these devices help facilitate real-time communication. In an effort to cope with and overcome the rapidly rising bandwidth & network traffic issues, organizations worldwide are embracing network management solutions that keep the traffic flowing while also ensuring network security.
For instance, in September 2018, Equinix invested USD 73 million to open an International Business Exchange (IBX) data center in Paris to meet the needs of its cloud customers. The new data center provides enterprises with greater access to top cloud providers through low latency and private connectivity options.
The Secure Web Gateway (SWG) segment is expected to have a growth rate of 7% over the forecast period due to the growing advanced cyber threats such as Advanced Persistent Threats
Factor driving the enterprise networking market growth is the extensive adoption of machine learning to solve a broad range of networking and security challenges. Machine learning algorithms are used to monitor networks, deliver insights in case of anomalies, and recommend how to best optimize the network. Emerging network analytics services powered by AI and machine learning are being increasingly used to transform traditional network infrastructure management models.
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