Market Size of Enterprise Communication Infrastructure Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 17.53 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Enterprise Communication Infrastructure Market Analysis
The enterprise communication infrastructure market is expected to register a CAGR of 17.53% during the forecast period, 2021 - 2026. The growing need to upgrade outdated IT communication infrastructure is also motivating many organizations to invest in the enterprise's communication infrastructure market.
- According to the Spiceworks' 2019 State of IT, 89% of companies surveyed expect their IT budgets to grow or remain considerable in 2019. Additionally, 56% of companies with more than 5,000 employees reported that they were expecting their IT budgets to increase in 2019.
- The primary driver behind the investments has been the continuous evolution and application of new technologies to unlock enormous volumes that were previously considered non-commercial.
- Another prominent trend in the market aiding the growth of enterprise communication infrastructure is the increasing rate of smartphone penetration, owing to the increasing BYOD policies.
- Adoption of cloud services also continues to influence enterprise spending. Cloud-based solutions are also helping organizations in creating a more effective unified platform for internal and external communication. The growing adoption of cloud services, especially among SMEs, is also promoting the further development of the market.
- However, the growing data security concerns, as well as poor IT infrastructure, especially in the developing regions, are some of the factors restraining the market growth.
