The network devices market is projected to grow from USD 26.4 billion in 2022 to USD 36.4 billion by 2027; it is expected to grow at a CAGR of 6.6% from 2022 to 2027. Organizations globally are implementing technologically advanced applications through digital transformation across their verticals, thus raising the requirement for fast wireless network connectivity, including WiFi 6, WiFi 6E and 5G. The number of internet users around the world is also rapidly increasing owing to the growing smartphone penetration and enhanced connectivity. An increase in demand for connected devices that require a sophisticated Internet connection for seamless functionality is expected to boost the demand for network devices.
Network devices has an established market, and is consolidated among the players within the market. Key strategies adopted by top players to enhance their product portfolios, increase their market share and expand their presence in the market mainly include new product launches and deals. For instance, In October 2021, STMicroelectronics, a global semiconductor company offering products across a spectrum of electronic applications, and Sierra Wireless announced an agreement that will enable the STM32 microcontroller (MCU) to leverage flexible cellular IoT connectivity and edge-to-cloud solutions from Sierra Wireless. The agreement will help the companies create and deploy IoT solutions, including device design and development with a cellular network, and connection to cloud services, enabling a quicker time-to-market. In June 2021, Cisco (US) announced a new portfolio of Catalyst industrial routers for enterprise networks. These include the Catalyst 5G Industrial Routers and Cisco IoT Gateway Series. Featuring 5G capabilities, they enable organizations to run connected operations at scale with a choice of management tools suited for both IT and operations. In May 2021, Huawei held a new launch conference where it launched some smart products, including a new Wi-Fi router that features HarmonyOS. This router was equipped with a subrouting design and functioned on the company’s proprietary operating system. Notably, the new router was designed for large houses. This router could connect with up to six subrouters and offer networking speeds of up to 3,000 Mbps with a maximum range of about 200 square meters.
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Cisco Systems (US) develops a wide number of products including telecommunications equipment and networking hardware. The company operates through two business segments: Products and Services. The Products segment has been further classified into Infrastructure Platforms, Applications, Security, and Other Products. Cisco Systems offers network device products and software for various applications. For instance, the Cisco Industrial Asset Vision includes a family of industrial sensors that provide telemetry and location information for assets and facilities. The company also provides various service offerings including technical support services and advanced services. Through Cisco IoT, the company provides industrial connectivity for both wired and wireless communications infrastructure. From edge computing to data management, control, and exchange, as well as security, network, cellular and connectivity management, the company’s robust portfolio of networking solutions has helped scale flexible deployments. Cisco Systems has a widespread global presence and operates numerous customer experience centers. The company’s subsidiaries include Cisco Albania SHPK (Albania), Cisco Do Brasil Ltda (Brazil), Cisco Fast Data, LLC (Delaware), Cisco International Limited (UK), and Cisco International Taiwan Ltd. (Taiwan).
Cradlepoint (US) develops wireless edge networking equipment. In November 2020, it was acquired by Ericsson but continues to operate as a standalone company under the latter. Cradlepoint offers both network device hardware and software solutions. It initially offered 3G and 4G cellular routers that created Wi-Fi hotspots for mobile internet. Subsequently, the company developed routers, gateways and software for wireless edge networking, using LTE and 5G wireless technology, for industries, businesses, and other mobile users. Cradlepoint also provides NetCloud Service, a subscription-based platform for its wireless edge routers and adapters that delivers cloud-based management and control with software-defined networking technologies. The company provides its network device solutions for businesses (retail, healthcare, financial services, and transportation), public safety (law enforcement, EMS, and fire), industrial (oil & gas) and the public sector (public transit, education, and federal). For LTE and 5G networks, the company works closely with mobile operators in the US (AT&T, T-Mobile, Verizon, Rogers, and Bell), Europe (Vodafone, BT, and Dutch Telecom), and APAC (Telstra and Optus). Cradlepoint’s R&D center is located in California, US; the company has offices for business operations in the UK, India and Australia.
Network Devices Market by Connectivity (WiFi, Cellular, LoRa, ZigBee, Bluetooth), Device Type (Router, Gateway, Access Point), Application (Residential, Commercial, Enterprise, Industrial, Transportation) and Geography - Global Forecast to 2027
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