Network Equipment Market Insights Video

According to Cognitive Market Research, the global Network Equipment market size was USD 145845.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.00% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 58338.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.2%from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 43753.65 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 33544.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.
• Latin America had a market share of more than 5% of the global revenue with a market size of USD 7292.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 2916.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
• The IT and Telecom sector is the dominant application category. This dominance stems from the critical role that network infrastructure plays in supporting the massive data traffic and communication needs of this industry.