Network Infrastructure - Cyprus | Statista Market Forecast

Revenue in the Network Infrastructure market is projected to reach US$29.75m in 2024.
Service Provider Network Infrastructure dominates the market with a projected market volume of US$21.99m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.20%, resulting in a market volume of US$34.83m by 2029.
The average Spend per Employee in the Network Infrastructure market is projected to reach US$43.21 in 2024.
In global comparison, most revenue will be generated China (US$64bn in 2024).

Definition:

The Network Infrastructure market focuses on hardware resources essential for service provider and enterprise networks. This market specifically focuses on solutions designed for the complex networking requirements of businesses and organizations, setting aside options like consumer-grade networking hardware products such as basic WIFI routers and network switches. These network infrastructure components are crucial in environments where reliable and secure connectivity, as well as efficient network operations, are paramount, establishing them as a fundamental part of the IT infrastructure in various industries.

Structure:

The Network Infrastructure market is structured in two markets based on the services model provided by the companies.

Service Provider Network Infrastructure covers the hardware resources of telecommunication service companies that enable wired and wireless network connectivity and communication to transfer voice and data.
Enterprise Network Infrastructure covers the hardware resources that enable wired and wireless network connectivity, communication, operations, and management of enterprises.

Additional Information:

The Network Infrastructure market includes revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in the Network Infrastructure market include companies such as Huawei, HPE, Cisco, and Ericsson.

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Routers, Broadband Access & Switches, such as Cisco Industrial Services Router, and Cisco Catalyst Switch
Enterprise Telephony, such as Cisco IP Telephone, and Cisco Unified IP Conference Phone
Infrastructure Firewalls, such as SonicWall Firewall, and Cisco Firepower

Private Network Infrastructure, such as TP-Link Basic Router, and TP-Link Mini Switch
Network Infrastructure Software, such as Microsoft Core Infrastructure SVR STE, and McAfee Internet Security

The Network Infrastructure market in Cyprus is experiencing subdued growth, impacted by factors such as slow adoption of digital technologies, lack of health awareness among consumers, and limited convenience offered by online services. This is evident in both the Service Provider and Enterprise sub-markets. However, with the increasing need for efficient data management and connectivity, the market is expected to pick up pace in the coming years.

Customer preferences: The demand for reliable and high-speed network infrastructure in the Data Center Market in Cyprus has significantly increased due to the growing adoption of cloud services and the rise of Internet of Things (IoT) devices. This has led to a surge in investments in fiber-optic networks and 5G technology, catering to the needs of both businesses and consumers. Additionally, the increasing reliance on remote work and virtual meetings has further emphasized the importance of robust network infrastructure for seamless connectivity and communication.

Trends in the market: In Cyprus, the Network Infrastructure Market within the Data Center Market is experiencing a surge in demand for cloud-based solutions, driven by the increasing adoption of digital transformation strategies by businesses. This trend is expected to continue in the coming years, as more organizations shift towards hybrid cloud environments and invest in edge computing technologies. This presents opportunities for industry stakeholders, such as data center providers and network infrastructure vendors, to expand their offerings and cater to the evolving needs of their customers. However, this also brings challenges in terms of managing and securing the growing volume of data, requiring investments in advanced data management and security solutions.

Local special circumstances: In Cyprus, the Network Infrastructure Market within the Data Center Market is heavily influenced by the country's location as a strategic hub between Europe, the Middle East, and Africa. This has led to an increasing demand for data storage and processing capabilities from international companies looking to establish a presence in the region. Additionally, the country's favorable tax policies and business-friendly environment have attracted major players in the tech industry, further driving the growth of the Data Center Market.

Underlying macroeconomic factors: The Network Infrastructure Market within the Data Center Market in Cyprus is greatly influenced by macroeconomic factors such as the country's economic stability, government policies, and technological advancements. With a strong national economy and supportive fiscal policies, Cyprus is experiencing a surge in demand for data center services, driving the growth of the Network Infrastructure Market. Additionally, the country's strategic location and favorable regulatory environment make it an attractive destination for data center investments. The increasing adoption of cloud computing and digital transformation across industries is also boosting the demand for robust network infrastructure in the data center market in Cyprus.

Data coverage:

The data encompasses B2B enterprises. Figures are based on hardware-related expenses of businesses for setting up and maintaining an IT infrastructure.

Modeling approach / Market size:

Market sizes are determined through a top-down approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports and national statistical offices. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and level of digitization. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques, such as exponential trend smoothing and the S-curve function, is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Nothing runs right in companies or corporations today without the proper IT network infrastructure and equipment. 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.