The way consumers create, maintain, and secure networks is always changing. As a result, the networking device market is packed with various products offering different functionalities and interactions.
While entering the market may look like a tough nut, there is an easy solution. Businesses only need to keep up with the latest trends to cater to the demands of the networking device market.
This article will explore five outstanding trends keeping the networking world in a chokehold. But here’s an overview of the size of the networking device market.
Table of Contents
Overview of the global network device market in 2024
5 trends dominating the network device market
Stock up on these trends
Overview of the global network device market in 2024
Experts valued the global network device market at US $144.7 billion in 2022. According to their forecasts, the market will grow at a 3.7% compound annual growth rate (CAGR) from 2023 to 2030. The increasing deployment of IoT devices and the advent of 5G technology are the major factors driving the market.
Here are some other statistics worth noting:
- The hardware segment held a leading position in 2022 with a more than 57% global revenue share.
- The 4G LTE segment held a 72% market share in 2022, but experts predict the 5G segment will take over at a 23.3% CAGR.
- Asia-Pacific dominates the regional market with a 35% share, while Europe follows closely behind at a 4.1% CAGR.
5 trends dominating the network device market
1. Wireless access points (WAPs)
Wireless access points are like hubs that link wireless devices to a wired network, making communication a breeze. They use antennas, transmitters, and adapters to create a handy wireless local area network (WLAN).
So how many of these WAPs will consumers need? Well, it’s like this: the bigger the network, the more WAPs consumers might want. Throw in some extra access points, and voila! The network will handle more wireless clients and cover a wider area.
But here’s the catch: each access point can only reach so far. When consumers go beyond the range, they may notice a dip in signal strength and data speed. But it’s not much of an issue! The latest versions come with powerful antennas, giving them the power to extend their wireless signals.
WAPs have more than one trick up their sleeve. With multiple ports, they can boost the user’s firewall game, handle a bigger network, and even offer DHCP services. Talk about versatility!
Guess what’s making waves in the networking scene? Wireless access points. Don’t believe it? Check out Google Ads data—in November 2023, there were 1.5 million searches for them. That’s some serious buzz.
2. Router
Consumers get routers for one job: directing traffic. Routers help move packets by determining the most appropriate destination (IP address) before creating a transfer path.
The best part is that routers are intelligent enough to store information about their connected networks, which is usually on a table they can refer to later. Routers are incredibly useful in today’s networking world, so it’s no surprise they’re one of the trending devices.
Internet connection sharing is one reason why consumers love routers. They allow multiple devices in a home or office to share a single internet connection. Without routers, users would need a separate internet connection for each device.
According to Google Ads data, routers have consistently enjoyed a 1.22 million search volume since April 2023. However, search interest was boosted by 10% to 1.5 million inquiries in November 2023.
3. Repeater
Repeaters are the go-to for extending a network’s coverage area. They can help amplify or regenerate received signals, pushing them into troublesome dead zones. In simpler terms, repeaters are like signal boosters for Wi-Fi.
These boosters are particularly useful in large homes, offices, or areas where Wi-Fi signals from the router may not reach every corner. Even if the room has weak signals or suffers from interference, repeaters can help amplify it, providing stronger and more reliable connections.
More importantly, repeaters are a cost-effective way to enhance Wi-Fi coverage compared to installing additional routers or access points. And they’re generally easy to set up, as most models come with simple plug-and-play functionality. Additionally, users can configure them easily without advanced technical knowledge.
Even better, repeaters are flexible and can be moved to different locations based on changing network requirements. This amazing adaptability makes them suitable for temporary setups or events needing a Wi-Fi coverage boost.
Repeaters are also performing excellently in the search interest space. Based on Google Ads insights, the networking device averages 450,000 monthly searches and has maintained this search volume since March 2023.
4. Hubs
Imagine a group of friends who want to share information. Instead of everyone talking directly to each other separately, they decide to meet at a central location, like a meeting room. This meeting room is like a network hub.
In a computer network, hubs connect multiple computers or devices in a central location. It acts as a common meeting point for sharing information. For instance, when one computer sends information to the hub, it broadcasts the message to all connected devices.
However, there’s a catch. Hubs operate at a very basic level and lack the intelligence to understand the information’s destination. So, just like everyone in the meeting room hears the message, all devices connected to the hub will receive the data—even if it’s meant for only one device.
Nevertheless, consumers love hubs because they’re a simple way for devices to communicate over a basic network. Hubs may not be the most popular trend on this list, but they’ve garnered significant attention in 2023, with up to 40,500 searches in November (based on Google Ads data).
5. Network switches
Like hubs, network switches act as central connection points for computers, printers, and other networked devices. Usually, they offer multiple ports where consumers can plug in their preferred devices using Ethernet cables.
But that’s where the similarities end. Unlike hubs, network switches are smart enough to learn their connected devices’ unique hardware addresses (MAC addresses). What’s the difference here? Switches can send data to specific devices while hubs cannot, making data more efficient and preventing unnecessary traffic.
In addition, switches come in various sizes, ranging from small switches for home use to large enterprise-level switches with dozens or hundreds of ports. It’s this scalability that makes them suitable for various network sizes.
Network switches are also trending (up to 90,500 searches in November 2023) because they may come packed with additional features like Quality of Service (QoS), VLAN (Virtual LAN) support, and management capabilities. These features grant more control over the network for improved security and performance.
Stock up on these trends
Networking is a crucial part of most organizations and basic consumers’ lives. If networking devices are not creating access to wireless networks, they’ll help manage and secure networks or facilitate device communications.
With their importance, retailers must constantly stay up-to-date with the latest trends to stand a chance at making profits from the networking devices market. Luckily, this article sheds light on the hot trends making sense in 2024.
Invest in wireless access points, routers, repeaters, network switches, and hubs to offer an updated inventory in 2024.
