Key Highlights
- The global networking market size was valued at approximately $74 billion in 2022
- The enterprise networking market is expected to grow at a CAGR of 6.3% from 2023 to 2030
- Over 70% of organizations have adopted SD-WAN solutions
- The number of connected devices worldwide is projected to reach 29.3 billion by 2027
- Wi-Fi 6 adoption is expected to surpass 60% of enterprise networks by 2025
- The average enterprise spends over $350,000 annually on network infrastructure
- 80% of network downtime is caused by configuration errors
- The global SDN market is projected to reach $55 billion by 2027
- Cloud-based networking solutions grew by 25% in 2022
- 55% of organizations plan to migrate to 5G networks within the next two years
- The amount of data transmitted over corporate networks increased by 36% in 2022
- The global network security market size was valued at $32 billion in 2022 and is projected to reach $66 billion by 2028
- 65% of network professionals believe that automation is critical for future network management
The networking industry is experiencing explosive growth and rapid innovation, driven by surging data transmission, seismic shifts toward cloud and 5G, and a relentless quest for security and automation—making it an arena of transformative change shaping the digital world of tomorrow.
Device Connectivity and Usage Patterns
- 90% of devices in enterprise networks are now managed remotely
- The number of IoT devices connected to networks worldwide exceeded 16.5 billion in 2022
Device Connectivity and Usage Patterns Interpretation
Market Size and Growth Trends
- The global networking market size was valued at approximately $74 billion in 2022
- The enterprise networking market is expected to grow at a CAGR of 6.3% from 2023 to 2030
- Over 70% of organizations have adopted SD-WAN solutions
- The number of connected devices worldwide is projected to reach 29.3 billion by 2027
- The average enterprise spends over $350,000 annually on network infrastructure
- The global SDN market is projected to reach $55 billion by 2027
- Cloud-based networking solutions grew by 25% in 2022
- The amount of data transmitted over corporate networks increased by 36% in 2022
- The global network security market size was valued at $32 billion in 2022 and is projected to reach $66 billion by 2028
- Cisco holds nearly 50% of the enterprise networking equipment market share in 2023
- The adoption of AI in network management is expected to grow at a CAGR of over 20% between 2023 and 2028
- The number of VPN users worldwide reached 370 million in 2023, an increase of 19% over 2022
- The global 5G infrastructure market is expected to grow from $9.4 billion in 2022 to over $52 billion by 2029
- Ethernet switches dominate the enterprise LAN market with a market share of over 70% in 2023
- The average enterprise Wi-Fi network has over 150 access points
- The global network function virtualization (NFV) market is projected to reach $74 billion by 2026
- The number of network devices shipped globally reached 2.1 billion in 2022
- Network virtualization allows up to 60% reduction in hardware costs for large enterprises
- The total amount of data generated globally is expected to reach 175 zettabytes by 2025, much of which is transmitted over networks
- 67% of companies worldwide see network agility as a top priority for digital transformation
- The average bandwidth per user in broadband networks increased by 45% from 2020 to 2022
- More than 75% of enterprise networks are now implementing zero-trust security models
- Wireless access points are expected to grow at a CAGR of 8% between 2023 and 2028
- The total number of routers deployed globally reached approximately 2.3 billion in 2023
- The enterprise VPN market is projected to grow at a CAGR of 8.4% from 2023 to 2030
- Fiber optic cables are used in over 50% of new network installations globally
- The average lifespan of enterprise network hardware is approximately 5 years
- The global network traffic is expected to reach 4.8 zettabytes per year by 2025
- The deployment of 10G Ethernet is increasing at a rate of 15% annually
- In 2022, approximately 65% of enterprises used cloud-managed networks
- The global wireless sensor network market is projected to grow at a CAGR of 21.4% between 2023 and 2030
- The global MPLS VPN market is forecasted to reach $13.5 billion by 2026
- The use of quantum networking is expected to increase significantly by 2030, with an estimated CAGR of 24%
- By 2024, the total number of enterprise wireless access points is projected to reach over 10 million worldwide
- Network traffic in mobile networks is expected to grow at a CAGR of 30% through 2027
- The average cost of deploying a new enterprise network has increased by 15% over the past five years, due to increased security and high-speed requirements
- Over 65% of enterprise networks are planned to transition to cloud-managed services within the next three years
- The global Ethernet switch market is projected to reach $30 billion by 2025, with a CAGR of 8-10%
- The use of mesh Wi-Fi networks in homes increased by 37% in 2022, driven by increased demand for reliable connectivity
- By 2025, approximately 50% of enterprise networks will incorporate edge computing to support IoT and real-time data processing
- The demand for network engineers is projected to grow by 5% annually through 2028, reflecting the increasing complexity of networks
Market Size and Growth Trends Interpretation
Security Incidents and Threats
- 80% of network downtime is caused by configuration errors
- 30% of businesses experienced a cybersecurity breach caused by network vulnerabilities in 2022
- The average cost of a data breach in the networking sector is estimated to be $4.4 million in 2023
- 40% of network outages are due to firmware updates gone wrong
- 55% of organizations report ongoing challenges with network security due to increasingly sophisticated cyber threats
- The largest share of network investments (approximately 35%) is allocated to security infrastructure
- The number of network breaches reported worldwide increased by 20% in 2022, reaching over 11,000 incidents
Security Incidents and Threats Interpretation
Technological Adoption and Standards
- Wi-Fi 6 adoption is expected to surpass 60% of enterprise networks by 2025
- 55% of organizations plan to migrate to 5G networks within the next two years
- 85% of enterprises use some form of network monitoring
- Network automation can reduce network provisioning time from days to minutes
- The adoption rate of IPv6 in global networks reached approximately 38% in 2023
- Nearly 90% of enterprise data centers now use some form of network automation
- IPv4 addresses comprise only 27% of active internet addresses in 2023, with IPv6 steadily increasing adoption
- The average latency in 5G networks has decreased to less than 10 milliseconds, greatly improving real-time applications
- 75% of network traffic is expected to be encrypted by 2024 to improve security
- 40% of companies expect their network infrastructure to be fully automated within the next five years
Technological Adoption and Standards Interpretation
Workforce and Infrastructure Developments
- 65% of network professionals believe that automation is critical for future network management
- The number of Cisco-certified networking professionals worldwide exceeded 600,000 in 2023
Workforce and Infrastructure Developments Interpretation
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