Growth ahead in networking tool market

05/23/2011

Significant growth is expected in the global networking tool market between 2011 and 2014.

According to a recent Technavio study, the market will grow at a compound annual growth rate of approximately 7 percent, reaching an overall value of $670 million during 2014.

The study found telecom service providers and small businesses are at the forefront of the sector and will generate the most income in the networking tool industry.

Technavio's research found small- and medium-sized businesses are emerging rapidly as the global economy recovers. Many [of these businesses] are focusing their early technological investments on networking tools to support their process-related initiatives.

Telecoms are also increasing their investments in network equipment, but are doing so because infrastructure is becoming more complex and demanding. Therefore, they are more likely to spend on the most advanced networking tools available.

According to the report, the primary hindrance in the market can be attributed to a lack of standardization and interoperability between component manufacturers.

Another Technavio study found companies are also increasing their investments in network equipment to support multi-protocol label switching technology. The report said MPLS is expanding fast as an optimization tool, fueling growth in the sector.

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