Enterprise Communication Infrastructure Market Trends

Growth Drivers

• Worldwide Growing Penetration of Smartphones - Smartphones have become an important part of everyday life. People without a smartphone are severely hindered in their potential to engage in the full range of today's economic and societal activities. Individuals all across the world can now use mobile to not only communicate more effectively, but also make payments, purchase, and even remotely operate gadgets in their homes. Therefore, the globally increasing penetration of smartphones is estimated to drive market growth further in the coming years. For instance, the total number of smartphone users in the world is around 6.97 billion by the first half of 2023, representing nearly 87.25% of the global population.
• Massive Surge in the Adoption of Artificial Intelligence - The implementation of human intelligence functions by machines, particularly computer systems, is known as artificial intelligence. These machines are programmed to think and imitate humans. It is mostly employed for learning and problem-solving. In the context of enterprises, AI is rapidly becoming a useful resource for data analytics and data scientists. Furthermore, artificial intelligence has proved to be one of the least expensive methods of maintaining and enhancing communication speeds. Hence, such broad benefits are estimated to expand the adoption of artificial intelligence in enterprise communication infrastructure during the projected time frame. For instance, approximately 40% of enterprises are considering the use of AI while around 39% of businesses are already utilizing it.
• Surging Adoption of Bring Your Own Device (BYOD) Policy - Bring Your Own Device (BYOD) has emerged as a major trend for various companies worldwide, which increases the productivity of the workplace. An effective BYOD policy entails a sound investment in communication infrastructure and security. Hence, the surging adoption of the BYOD policy is also projected to fuel market growth over the forecast period. For instance, globally approximately 86% of organizations have implemented some form of BYOD policy.
• Growing Implementation of Wi-Fi 6 Technology - Wi-Fi 6 is a major improvement over early versions of Wi-Fi which is also known as 802.11ax. It enables quicker connection rates. Wi-Fi 6, makes Wi-Fi technology more convenient and faster for commercial use, voice and data connections, and industrial internet of things technologies. Hence, it is boosting the demand and adoption of this latest technology. This, as a result, is anticipated to fuel the market growth over the forecast period. As per a report, more than 2 billion Wi-Fi 6 devices and 360 million Wi-Fi 6E devices were estimated to be available to consumers in 2022.
• Surging Incorporation of IoT – For instance, IoT technology is currently estimated to have embraced by approximately 88% of organizations.

Challenges

• Rise in Data Security Threats Across the Globe – As of the growing number of employees who work remotely, data transfer between corporate and personal devices is probably inevitable. Storing sensitive data on personal devices drastically elevates the risk of cyber-attacks. For instance, currently, every day around 35,000 websites are hacked throughout the world. Moreover, nearly 66% of organizations globally have been exposed to at least one type of cyber-attack. Therefore, this factor is anticipated to hinder market growth in the coming years.
• Poor IT Infrastructure in Developing Regions
• Lack of Awareness About Data Breaches in Emerging Nations