Internetwork is a collection of various individual networks that are connected by several intermediate connecting devices and that collectively function as a single large network. Internetworking creates a single virtual network over which all nodes connected to different networks such as LAN or WAN can communicate with one another transparently and seamlessly. An internetworking device is a hardware. A computer network can be designed by using various network devices such as network interface cards (NICs), repeaters, modems, bridges, hubs, gateways, and switches. These devices are used for building networks such as LAN and WAN.
The global internetworking devices market can be segmented based on device type, end-user, and region. In terms of device type, the market can be classified into hubs, switches, modems, routers, bridges, and repeaters. Based on end-user, the global internetworking devices market can be divided into large enterprises and small & medium-sized enterprises (SMEs). The large enterprises segment is estimated to hold the maximum market share throughout the forecast period. This is primarily due to expansion strategy of these enterprises. They are focusing on expanding their global footprint and establishing new facilities in untapped markets. On the other hand, the small & medium-sized enterprises segment is projected to expand at a higher CAGR during the forecast period, due to increasing government initiatives to support growth of small and medium-sized enterprises.
Based on region, the global internetworking devices market can be segmented into North America, South America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). North America is estimated to account for the maximum share of the global internetworking devices market during the forecast period, followed by Europe. Technological innovation in networking solutions is expected to offer immense growth opportunities to the internetworking devices market in Europe in the next few years. Growth of the internetworking devices market in North America can be attributed to presence of leading players in the U.S. and Canada.
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On the other hand, the market in Asia Pacific is estimated to witness growth at the maximum rate during the forecast period. Asia Pacific is expected to offer lucrative growth opportunities to key players operating in the global market in the next few years, due to significant growth in industrialization in the region. Countries such as Japan, South Korea, Thailand, Malaysia, India, China, and Singapore are contributing to the internetworking devices market in Asia Pacific. Rise in the number of enterprises in the Middle East and South America is promoting growth of the internetworking devices market in these regions.
The global internetworking devices market is undergoing a developing stage and companies are greatly investing in research and development of networking technologies so as to improve efficiency of their business processes.
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The market is in its growing stage and companies are profoundly investing in R&D operations and developing innovative technologies to cater the customer needs. Key players operating in the global internetworking devices market include Cisco Systems, Hewlett Packard Enterprise Development LP, Juniper Networks, Huawei Technologies Co., Ltd., and Arista Networks. Some of the leading players are primarily focusing on coming up with advanced solutions and product offerings with unique pricing in order to strengthen their position in the global market.
The increasing number of mergers and acquisitions has been identified as one of the most significant trends in the global internetworking devices market. This can be attributed to strategic investments made by companies in the technology sector. The intention of mergers and acquisitions by these companies is to generate new sources of revenue by reaching out to new customers and creating their presence in untapped markets through innovation in products and services. These vendors compete primarily in terms of pricing and the method of addressing expectations of their end-users.