Networking Market Size and Forecast (by Country, IT Solution Area, Size Band and Vertical) to 2027
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Networking Market Overview
The global networking market size was valued at US$ 403.86 billion in 2022 and will grow at a compounded annual growth rate (CAGR) of 7.55% to reach US$ 581.21 billion by 2027. The cumulative revenue generation for networking providers is estimated at US$ 2,918.18 billion for 2022-2027.
Networking Market Outlook, 2022-2027 (US$ Billion)
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The ‘Networking Market’ opportunity forecast report provides the total addressable market for networking solutions from 2019 to 2027.
Market Size (2022) | US$ 403.86 billion |
Market Size (2027) | US$ 581.21 billion |
CAGR (2022-2027) | 7.55% |
Key Segments | · Application Delivery Controllers (ADCs)
· Cable internet · Content Delivery Network (CDN) Services · Ethernet LAN Services · Ethernet MAN/WAN Services · Ethernet Private Line Services · Ethernet Switches |
Key Regions | · North America
· South & Central America · Western Europe · Central & Eastern Europe · Middle East & Africa · Asia Pacific |
Key Verticals | · Manufacturing
· Information Technology · Retail · Retail Banking · Government · Others |
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Networking Market Segmentation by Region
The networking market is geographically segmented into North America, South and Central America, Western Europe, Central and Eastern Europe, Middle East Africa, and the Asia Pacific.
The Asia Pacific region dominated the networking market with a revenue share of 42.6% in 2022. Undoubtedly, China held the largest market share of 52.0% in this region. On the other hand, North America and Western Europe held the second and third positions with 27.9% and 15.1% of market shares, respectively.
Networking Market Share by Region, 2022 (%)
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Networking Market Segmentation by Vertical
Manufacturing, information technology, retail, retail banking, insurance, government, construction, transport and logistics, energy, and healthcare are a few of the key end-use industries making use of networking in their operations. In terms of vertical end-use segments, the manufacturing sector held the highest market share of 9.9%, followed by the information technology sector.
The networking market for the energy sector is expected to be the fastest-growing segment, recording an estimated CAGR of 10.32%, during the forecast period.
Networking Market Share by Verticals, 2022 (%)
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Networking Market - Competitive Landscape
A few of the major players significantly impacting the networking market are Cisco, Huawei Technologies, Juniper Networks, Hewlett Packard Enterprise (HPE), and Arista Networks among others.
Leading Networking Companies
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Scope
This product provides revenue opportunity forecasts in the networking market from 2019 to 2027, spanning 52 geographical markets, 6 regions, and 22 verticals.
Key Highlights
- The global networking market is expected to grow at a CAGR of 7.55% over the forecast period.
- Asia Pacific will hold the highest market share of 42.6% in the networking market over the forecast period. North America and Western Europe will follow with market shares of 27.9% and 15.1%, respectively. The Middle East, Africa, Central and Eastern Europe, and South and Central America together are expected to account for the remaining market share of 14.4%.
Reasons to Buy
- Access the current state and expected growth (next 5 years) of the networking
- Determine lucrative sectors for networking, considering their current contribution to the overall networking market and their expected input toward the market growth over the next 5 years.
- Identify the geographies/countries that would contribute to the networking market growth over the next 5 years.
Frequently asked questions
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What was the networking market size in 2022?
The networking market size was estimated at US$ 403.86 billion in 2022 and is expected to reach US$ 432.31 billion in 2023.
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What will the networking market growth be by 2027?
The networking market is expected to grow at a compound annual growth rate of 7.55% over the forecast period to reach US$ 581.21 billion by 2027.
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Which industry vertical led the networking market in 2022?
The manufacturing sector was the largest vertical with 9.9% market share in 2022.
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Which region accounted for the largest networking market share in 2022?
The Asia Pacific region dominated the networking market with 42.6% market share in 2022.
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