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feature of any modern computer system. <br />During the past 10 years, the industry has increasingly focused on manufacturing internet <br />protocol -based telecommunications and networking equipment. The global computer <br />networking equipment industry generates more than $10 billion in revenue a year. <br />COMPETITIVE LANDSCAPE <br />The industry is characterized by a low-level of market share concentration, with the four <br />largest players accounting for 22.2% of industry revenue. Concentration has increased over <br />the past five years due to a significant increase in the number of broadband internet <br />connections, causing internet service providers to demand more networking equipment from <br />industry players. Major companies include Cisco Systems, Hewlett-Packard, Alcatel -Lucent, <br />Celestica, and Juniper Networks. Successful businesses in the industry have effective quality <br />control, offer a product range that anticipates changes in future technology, have alliances <br />with contacts in key markets, and demonstrate superior financial management and debt <br />management. <br />DEMAND DRIVERS <br />Market demand for networking products is driven by rapid technological advances, the <br />number of broadband connections, aggregate private investment and corporate profits. Large <br />companies have advantages in broad service offerings and global reach, which give them the <br />ability to provide outsourcing services to corporate customers. Small companies can compete <br />effectively by specializing in market niches or by partnering with larger firms that want to <br />broaden their mix of services. <br />Demand for industry products has fluctuated during the past five years. For instance, during <br />the recession in 2009, consumers had less per capita disposable income and private <br />corporations reduced investments, thus causing revenue to decline by 30.1%. Additionally, <br />consumer demand for foreign products increased, thereby harming sales for several domestic <br />manufacturers. Revenue is expected to grow 1.1% in 2013 due to increases in private <br />investment and the number of Americans acquiring broadband connections. <br />INDUSTRY OUTLOOK <br />Stronger internet connections have changed the way individuals work, communicate and <br />consume media. In urban and suburban areas, high-speed internet access is becoming <br />increasingly common, and internet service providers (ISPs) have had to invest in their <br />networks to keep pace with rapidly increasing internet traffic. As a result, industry players <br />have experienced increasing demand for networking equipment from downstream ISPs that <br />are expanding their internet infrastructure. IBISWorld estimates that the number of <br />broadband internet connections has increased significantly over five years to 2013, at an <br />annualized rate of 17.5% to 263.3 million. <br />At the same time, consumer electronics manufacturers are beginning to sell internet-ready <br />televisions and other devices that allow users to gain access to web -based content in their <br />living rooms and on the go. The rapid introduction of broadband -enabled devices has the <br />potential to increase the strain on broadband networks and will require more investment in <br />its infrastructure, benefiting industry manufacturers. In addition, the industrial networking <br />