March 03, 2020
As per the report titled ‘Europe Enterprise Networking Market Size By Deployment Model, Application, Component, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024’ available with Market Study Report LLC, Europe enterprise networking market is expected to grow considerably during 2018-2024.
According to the study, Europe enterprise networking market value is projected to exceed USD 20 billion by the year 2024. Growing adoption of cloud services across small and medium enterprises is driving the market growth. Inflowing investments in cloud-based data centers for enhancing the overall network infrastructure is another impetus for market expansion.
The report cites that secure web gateway (SWG) segment is projected to grow with a CAGR of 7% over the forecast timeline, on account of increasing number of advanced cyber threats such as advanced persistent threats (APTs). Rising adoption of bring your own device (BYOD) policy is encouraging enterprises to incorporate SWG solutions over traditional URL filtering techniques for monitoring external malicious traffic invading or leaving their network. The ineffectiveness of conventional firewalls against these advanced cyber threats is further boosting the demand for SWG solutions.
Elaborating on the deployment model, on-premise deployment of enterprise networking solutions across Europe is expected to amass USD 15 billion by the year 2024. The growth can be attributed to increasing product demand from enterprises owing to several benefits such as multiple layers of security and enhanced control over network resources & data. Secure communication throughout the enterprise is another major parameter supporting on-premise deployment.
Considering the regional outlook, Europe enterprise networking market is divided into UK, Germany, France, Spain, Italy, Russia, and Netherlands. As per the report, Netherlands enterprise networking industry is presumed to register a CAGR of 10% over the estimated timeframe, owing to favorable government initiatives towards the strengthening of cybersecurity, such as the National Cyber Security Agenda (NCSA) focused at creating a cybersecurity collaboration framework for the entire nation. Increasing number of IoT devices due to the implementation of LPWAN technology is compelling the enterprises to deploy advanced enterprise networking solutions, thereby supporting the regional business outlook.
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Major players of Europe enterprise networking market include Arista, F5 Networks, Cisco, Checkpoint, FireEye, Broadcom, Dell Technologies, Riverbed, HPE, Juniper, McAfee, Extreme Networks, Palo Alto, Huawei, Symantec, Trend Micro, Fortinet, Netscout, and VMWare. These companies are developing advanced networking solutions to meet the ever-changing demands of enterprise customers.
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