SAN JOSE, Calif., Sept. 1, 2020 /PRNewswire/ -- Extreme Networks, Inc. (Nasdaq: EXTR), a cloud-driven networking company, today announced it is the fastest-growing vendor in Omdia's 2020 Cloud Managed Networking Report. Omdia is a global technology research group established following the merger of the research division of Informa Tech's research brands – Ovum, Heavy Reading, Tractica – and the acquired IHS Markit technology research portfolio. In the report, Omdia found that of the top five vendors in the cloud-managed networking market, Extreme has experienced the largest increase in market share since the release of the 2019 industry report from IHS Markit.
According to the report, the global cloud-managed networking market grew by $2.6 billion in 2019, a 29% increase from 2018 and a significant increase over the traditional managed networking market, which grew by 3% in the same time frame. The cloud- managed share of the total networking market is expected to triple by 2024, even with COVID-19.
Extreme's strong growth follows its 2019 acquisition of Aerohive Networks, which was successfully integrated as of April 2020. Omdia also cites Extreme's flexible management model—companies can migrate from an on-premises installation to a public cloud subscription or even an off-premises private cloud, depending on needs—and plans to cloudify its broad switching portfolio as additional factors that influenced the company's success over the past year.
Extreme ranked second overall for revenue share in the industry, growing from 6% market share to 10% market share, and tied for second for devices managed, again taking 10% of market share. Extreme has a consistent record of increasing its market share year-over-year.
ExtremeCloud™ IQ is a machine learning and AI-driven cloud management platform that simplifies onboarding, configuration, monitoring, managing, troubleshooting, alerting, and reporting for network infrastructure devices. The platform is unequaled in its ability to provide administrators with a 360-degree view of device, client, application, and network health and performance. It is the industry's first end-to-end cloud management platform, the first cloud networking management architecture to be both cloud-hosting agnostic and cloud operating system agnostic, and is the first cloud platform to offer unlimited data, setting a new standard for access to cloud data and insights.
Matthias Machowinski, Research Director, Enterprise Networks, Omdia "Cloud-managed networking is clearly resonating with organizations as it addresses common pain points like deployment in distributed locations, upgrading and troubleshooting remote equipment, insights into users and applications across the entire network, and responding quickly to changing business needs. Extreme has built upon Aerohive's serious commitment to cloud-managed networking by significantly expanding its cloud-managed portfolio, resulting in rapid growth and the #2 ranking for revenue."
Wes Durow, Chief Marketing Officer, Extreme Networks, Inc. "The user experience should feel effortless and cloud is key to making that happen. We are rapidly cloudifying our edge-to-core, wired and wireless solutions portfolio and with that, delivering unmatched deployment flexibility and unlimited data insights to help our customers transition toward cloud-driven networking—wherever they are in their digital transformation. Demand for our innovative solutions and our approach to walking alongside our customers through this journey is what is driving our growth. We are proud of this industry ranking and believe our game-changing approach toward cloud networking will allow us to maintain our trajectory in this market for years to come."
About Extreme Networks Extreme Networks, Inc. (EXTR) creates effortless networking experiences that enable all of us to advance. We push the boundaries of technology leveraging the powers of machine learning, artificial intelligence, analytics, and automation. Over 50,000 customers globally trust our end-to-end, cloud-driven networking solutions and rely on our top-rated services and support to accelerate their digital transformation efforts and deliver progress like never before. For more information, visit Extreme's website or follow us on Twitter, LinkedIn, and Facebook.
Extreme Networks, the Extreme Networks logo, and ExtremeCloud IQ are trademarks or registered trademarks of Extreme Networks, Inc. in the United States and other countries. Other trademarks shown herein are the property of their respective owners.