COVID-19 Pandemic’s Effect on the Global Economy
According to World Bank statistics, the COVID-19 pandemic is likely the cause for the global GDP shrinking 3.5% overall in 2020. Many countries began recovering their economic losses by partially or fully adapting to government-mandated pandemic restrictions, including the participation of city- or country-wide shutdowns and vaccine development.

Many governments, including the United States government, actively boost economic activity as the COVID-19 pandemic shifts to a recovery phase. However, there are current disparities for sustainable economic growth between various countries and sectors.

Recent projections suggest that the global economy will remain below pre-pandemic trends for an extended period as countries continue to recover from the great depression due to COVID-19.

COVID-19’s Effect on Telecom and Wireless Network Equipment
Wireless solutions providers, such as eNetwork Supply, have played a vital role in the global internet ecosystem during the pandemic. Businesses across nearly every industry developed a stronger dependency on reliable telecom equipment and wireless network hardware.

From the start of the COVID-19 pandemic, global organizations began implementing advanced technological applications to engage with customers, increasing the demands for robust Wi-Fi network connectivity.

The innovative applications created a need for an agile online infrastructure, leading to responsive wireless and telecom equipment development that boosts network performance and cost-effectiveness. Due to fluctuating global government restrictions from the pandemic, organizations needed Wi-Fi networks to be more reliable, scalable, and flexible to accommodate mission-critical applications.

Projected Market Size Growth for Wireless Network Equipment
eNetwork Supply expects the global Wi-Fi market size will increase from $9.4 billion to $25.2 billion between 2020 to 2026, based on current trends and supportive reports. The projected Compound Annual Growth Rate or CAGR is 17.8% for this period.

Key driving forces for the market increase over the six-year period are:

● The need for solid network connectivity
● Wi-Fi solutions across pivotal sectors, including healthcare, life sciences, education, eCommerce, telecom, and IT

Projections suggest North America will have the largest market share for the wireless market. According to 2021 statistics, the United States holds over 36% of the global market share for ICT. The EU follows with 16%, and China comes in third at 12%.

Government projects, such as smart city initiatives, will provide growth opportunities for the wireless market within the next six years. The next six years will also deliver several product launches and deals that will be integral to the market’s growth strategies.

Network hardware is likely to experience the most considerable market size through 2026. The hardware element of the market includes wireless network equipment such as:

● WLAN controllers
● Access points
● Wireless hotspot

Top Vendors for the Wi-Fi Market
The leading innovators of the Wi-Fi market are:

● Cisco (US)
● Ericsson (Sweden)
● Extreme Networks (US)
● Huawei (China)
● Juniper Networks (US)
● Panasonic (Japan)
● Fortinet (US)
● NETGEAR (US)

Highest CAGR Growth From 2020-2026 from Healthcare and Life Sciences
The Wi-Fi market has seven key segments:

● Education
● Healthcare and life sciences
● Transportation and logistics
● Retail and eCommerce
● Government
● Manufacturing
● Hospitality

eNetwork Supply projects that healthcare and life science verticals will produce the highest CAGR for the projected period. These sectors use wireless networks and equipment like cloud Wi-Fi to create centralized data management systems.

Healthcare and life science services rely on wireless network equipment for optimal scalability and dependability. The industry uses the services to retain and access patients’ information and medical histories whenever necessary.

Though some healthcare and life science organizations use cloud-based wireless services, current projects suggest that the industry will have a higher Wi-Fi adoption rate within the next few years.

2020 Market Performance
The Enterprise Network Equipment market declined 2% for 2020 to $48.5 billion due to the COVID-19 pandemic. The decline comes after a 6% CAGR from the previous period of 2014 to 2019.

Though enterprise spending was high for security and routers for 2020, data center and campus switches were mainly responsible for the market decline. Wireless LAN data was flat for the year.

Despite the decrease in market growth, upward trends show promise for the future. The need for security and routers is increasing due to subscription-based software like virtual and SaaS security. There is also an increasing need for controllers and licenses.

The Enterprise Network Equipment market was steeper during the year's first half. Recovery began in the third quarter, leading to many global organizations feeling confident about the market’s future growth.

The increase in economic spending and government stimulus helped enterprises boost their spending on network equipment by $400 million, with 70% of the amount going to wireless LAN.

Enterprise Network Equipment Market Outlook for 2021
The 2021 market outlook looks positive despite the early decline of 2020. Forecasts project the total Enterprise Network Equipment market will grow about 5% within the following year.

The primary reasons for the optimism for market growth are ongoing government spending and the improvement of macroeconomic conditions. Reports from system integrators, telecom and network equipment resellers, and end-users suggest that future growth is possible if most of the workforce returns to work and businesses invest in network infrastructure, network market growth will remain on an upward swing.

Telecom Equipment Market Outlook 2021
In 2021, the Telecom Equipment market grew to $255390.0 million as a result of the COVID-19 pandemic. The World Bank projects additional economic growth in 2021 and 2022 that puts the global economic output at 4% for 2021 and 3.8% in 2022. Projections suggest the total market size of Telecom Equipment will reach $400720.0 million by 2026.

For More Information
To learn more about telecom and wireless equipment's projected market size or inquire about new or refurbished wireless and network hardware, please contact eNetwork Supply at 312-283-5983. Visit https://www.enetworksupply.com/