Europe Enterprise Networking Market to hit over $20bn by 2024

Published Date: 2019-08-12

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According to the Graphical Research new growth forecast report titled Europe Enterprise Networking Market By Deployment Model (On-Premise, Cloud), By Application (BFSI, Healthcare, IT & Telecom, Manufacturing, Retail, Government & Public Sector, Energy & Utility), By Component (Product [Switches, Network Security {Firewall, Intrusion Prevention, Anti-virus/Anti-malware, Secure Web Gateway (SWG), Mobile Device Security}, Wireless, Routers, Network Management], Service [Training & Consulting, Integration & Maintenance, Managed Service]), Industry Analysis Report, Regional Outlook (UK, Germany, France, Italy, Spain, Russia, Netherlands)”, determined to exceed $20 bn by 2024.

The market growth is attributed to the growing adoption of cloud services across SMEs. The rising investments in the cloud-based data centers are also contributing significantly to market growth. 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 (APTs). The growing BYOD trend is enabling enterprises to use SWG solutions to protect enterprise network from external malicious threats. The enterprise customers are currently preferring SWG over traditional URL filtering techniques to monitor external malicious traffic entering and leaving their networks. The inability of the traditional firewall to detect an advanced cyber threat is also contributing to the adoption of SWG solutions.

The on-premise deployment segment is estimated to be over USD 15 billion in 2024 due to an increase in the demand from enterprises for protecting network infrastructure from cyber threats. The on-premise deployment models offer better layers of security and more control over network resources & data with better threat protection. The on-premise security solution also enables enterprises to facilitate secure communication inside the enterprise’s premises.

The Netherlands is expected to have a growth rate of 10% over the forecast period due to supportive government initiatives to improve cybersecurity. For instance, in November 2018, the Dutch government passed the National Cyber Security Agenda (NCSA) to create a cybersecurity collaboration framework, providing national coverage. The rise in the number of IoT devices in the country due to the adoption of LPWAN technology is enabling enterprises to deploy advanced enterprise networking solutions to support business-critical applications.

The companies operating in the European enterprise networking market are developing advanced networking products to match the changing demands of enterprise customers. For instance, in June 2017, the company launched Cisco Catalyst 9000 Series, which is a  next-generation switch in the Cisco Catalyst family of campus switches including the enterprise LAN & core switches. This new product launch helped the company to provide advanced networking switches that matche the changing network demands of enterprises.

The major players operating in the market are Arista, Cisco, F5 Networks, Checkpoint, Broadcom, FireEye, Dell Technologies, HPE, Riverbed, Juniper, Extreme Networks, McAfee, Palo Alto, Symantec, Huawei, Trend Micro, Netscout, Fortinet, and VMWare.

Europe Enterprise Networking Market Size, By Component

  • By Product
    • Switches
    • Network Security
      • Firewall
      • Intrusion Prevention
      • Anti-virus/Anti-malware
      • Secure Web Gateway (SWG)
      • Mobile Device Security
    • Wireless
    • Routers
    • Network Management
  • By Service
    • Training & Consulting
    • Integration & Maintenance
    • Managed Service

Europe Enterprise Networking Market Share, By Deployment Model

  • On-premise
  • Cloud

Europe Enterprise Networking Market Value, By Application

  • BFSI
  • Healthcare
  • IT & Telecom
  • Manufacturing
  • Retail
  • Government & Public Sector
  • Energy & Utility

The above information has been provided for the following countries:

  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands