According to the business intelligence report titled ‘Global Enterprise Networking Market Size study by Component (Product and Services), by Deployment Model (On-Premises and Cloud), by Organization Size ( Large Enterprises, and Small & Medium-sized Enterprises), by End-user (Retail, BFSI, IT & Telecom, Media & Entertainment, Education, Government, Energy & Utilities, Automotive, Healthcare, and Technology) and Regional Forecasts 2021-2027’, available with Market Study Report, global enterprise networking market was evaluated at USD 52 billion in 2020 and is anticipated to be worth USD 82.95 billion by 2027, expanding at an annual rate of 6.9% between 2021-2027.
 

Focus on adopting reliable, secure & efficient wireless networking, and surging demand for high speed connectivity by companies are key factors spurring global enterprise networking market expansion. Moreover, ability of enterprise network to connect all sites of an organization with one another through a local network will aid industry growth as well.
 

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For the unversed, enterprise networking is a virtual and logical IT system that provides connectivity among devices, users, and applications. It transfers data among users by utilizing switches, wireless access points, and routers.
 

While features of the IoT network such as high optimization, network operations, security operations, and better connectivity will facilitate the market proliferation, security risks and dearth of technical expertise will restrain industry growth.
 

From the regional frame of reference, North America held majority of global enterprise networking market share in the past year owing to presence of leading players in the region and growing adoption of technology.
 

Based on deployment model, the industry is divided into cloud, and on-premises. Speaking of organization size, the market sphere is bifurcated into small & medium sized enterprises, and large enterprises. Moving on to end user scope, the business space is fragmented into retail, IT & Telecom, BFSI, media & entertainment, government, automotive, technology, education, energy & utilities, and healthcare.
 

Key players profiled in the worldwide enterprise networking market report are Arista Networks Inc., Cisco Systems Inc., Dell Technologies Inc., F5 Inc., Fortinet Inc., Broadcom Corporation, Check Point Software Technologies Ltd., Extreme Networks, FireEye Inc., and Huawei Technologies Co. Ltd.
 

These companies have made strategic decisions such as mergers & acquisitions, partnerships, collaborations, investments in research & development, and new products launches to enlarge profit margins and strengthen their foothold in this business sphere.