Next Generation Network Equipment Market
The next generation network equipment market size has grown strongly in recent years. It will grow from $32.72 billion in 2023 to $35.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increasing demand for high-speed connectivity, proliferation of connected devices, evolving communication standards, growing data traffic, need for improved network security.
The next generation network equipment market size is expected to see strong growth in the next few years. It will grow to $48.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to 5G network deployment, rise of virtualization and software-defined networking (SDN), demand for low-latency applications, increasing focus…
