Network hardware market share worldwide 2023
In 2023, HPE Aruba Networks led the global network hardware industry as the top technology with a market share of 56.2 percent. Other noteworthy technologies in the network hardware sector included Cisco Switches, Cisco Hardware, Cisco Catalyst, and Cisco Firewalls. Network hardware are physical devices that are essential for communication and interaction between computer network devices.
Rising network infrastructure and equipment spending globally
IT spending globally has been steadily increasing over the past decade, with an estimated value of nearly five trillion in 2024. In the same year, the network infrastructure market size was valued at nearly 200 billion U.S. dollars in 2024, with enterprise spending alone totaling around 56 billion U.S. dollars. The network infrastructure market is also expected to increase in the coming years in both the service provider and the enterprise segments. Recently, the U.S. and China were by far the largest spending countries on network infrastructure, with China’s network infrastructure revenue standing at some 45.7 billion U.S. dollars in 2024, while the U.S. market size stood at 42.9 billion U.S. dollars.
Network security market in a growth trajectory
Network security remains an essential pillar of enterprise network infrastructure. Infrastructure security spending was estimated at 28.4 billion U.S. dollars in 2023 and is forecast to exceed 33 billion U.S. dollars by 2024. The network security equipment market has been equally growing as well, with around 21.4 billion U.S. dollars in 2023. The main players in the network security equipment market are Palo Alto Networks, Fortinet, and Cisco, among others. Advanced threat prevention, secure email and web gateways, and network access controls are among the main network security technologies currently in use among organizations in 2023.
