IT networking is the construction, design, and use of network equipment to allow groups of computing devices to exchange data with one another, over both wired and wireless networks. The market covers networking hardware, software, and services, including virtual networks, servers, network management and security. The backbone of modern IT networking is the physical hardware required for communication between devices on a computer network. At the end of 2016, the revenue from Ethernet switch sales globally amounted to around 25 billion U.S. dollars. The leading vendor, Cisco Systems Inc, controlled more than 55 percent of the global Ethernet switch worldwide that year.
Two growing areas of IT networking are less bound by specific IT networking hardware, relying instead on software transmissions of data. The software-defined networking market is forecast to reach 4.1 billion U.S. dollars worldwide in 2017.
The more established virtual private network (VPN) market is expected to reach 70 billion U.S. dollars in size by 2019, with the majority of its revenue derived from multiprotocol label switching (MPLS) backbones run by large network carriers. MPLS supports the creation of scalable, protocol-independent networks that offer improved reliability and performance.
In terms of services, the worldwide network management market projected be worth over 11 billion dollars by 2019. An essential component of the management and functionality of global networks is the centralization of critical network services. Assisting in this are network infrastructure technologies such as DNS, DHCP, and IPAM (together known as DDI). The global DDI market has seen continuous growth, growing to more than 530 million U.S. dollars in generated revenue in 2015.
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