Chicago, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The Network Switches Market Size by Type (Fixed Configuration Switches, Modular Switches), End User, Switching Port (100 MBE & 1 GBE, 2.5 GBE & 5 GBE, 10 GBE, 25 GBE & 50 GBE, 100 GBE, 200 GBE & 400 GBE) and Region – Global Forecast to 2028. The Network Switches Market is projected to grow from USD 33.0 Billion in 2023 to reach USD 45.5 Billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.6% from 2023 to 2028.
Network Switches Market Size Market Players
Major vendors in the Network Switches Companies include Cisco Systems (US), Huawei Technologies (China), HPE Aruba (US), Juniper Networks (US), Arista Networks (US), NETGEAR (US), D-Link Corporation (US), Extreme Networks (US), NVIDIA Corporation (US), TRENDnet (US), Lantronix (US). Apart from this, Alcatel Lucent Enterprise (France), Dell Technologies (US), Pica8, Inc. (US), Larch Networks (US), STORDIS (Germany), IP Infusion (US), Buffalo Americas, Inc. (US), Linksys (US), TELEFLY Telecommunications Equipment Co., Ltd. (China), Allied Telesis (Japan), Moxa (Taiwan) are among a few emerging companies in the network switches market.
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Network Switches Market Size Dynamics:
Drivers: Augmented global demand for data centers
Data centers are playing a major role with rising technologies like IoT, AI and 5G. The global data center market is expected to register an impressive growth rate of 7.5%. The market garnered a valuation of USD 101.79 Billion in 2022 and is expected to accumulate a market value of USD 209.8 Billion by 2032. The increase in cloud migration has accelerated growth and expansion of data centers globally, causing major data center operators to expand their footprints. In 2021, U.S. users absorbed 500 megawatts (MW) of data space.
Restraint: Technological complexity involved in network switches making it vulnerable towards security attacks
Routers, switches, and firewalls, collectively known as Network Infrastructure Devices, which are most important elements of any network. In terms of security, they should be the most hardened devices, however, due to their importance, administrators are seldom inclined to update them to ensure they do not inadvertently affect any network uptime. Network misconfigurations cost companies an average of 9% of annual revenues. It is found of that 96% of the organizations overlook routers and switches auditing resulting in vulnerabilities. One of the most common security weaknesses found in routers and switches is that some network engineers fail to change the default configurations of the devices. This can include administrator login credentials or security settings. This makes easy for hackers to gain access to enterprise servers, causing severe data breaches.
Opportunity: Rising data volumes across enterprises
IT infrastructure has seen tremendous shift with developments in technologies like edge computing, AI, IoT, 5G and Machine learning applications. The application of these technologies across different industry verticals like healthcare & life science, finance, smart agriculture, smart infrastructure, manufacturing retail, logistics, aviation, and defense systems. Additionally, 5G has given huge boost to many industries with its high-speed data transmission and internet coverage to every corner made customer span even wider. With growing customer base and applications, the data loads have increased significantly. These data volumes had to be transferred to servers and storage systems at higher bandwidth, which require advanced network switches for carrying out these operations.
Challenge: High operational cost of network switches
Network switches are extremely good for networking operations. They can move enormous amounts of data in milliseconds without ever having to slow down. This makes them perfect for applications which require high bandwidth and low latency – like gamers, video editors and cryptocurrency miners. The R&D cost of network switches is marginally high. The cost of switch goes high with added features like processors, memory, cabling, and connectors. The latest hardware being produced by bigger companies such as Intel and Broadcom usually cost a hundred dollars just for small 5-port models and can easily skyrocket up to thousands of dollars for a 24-48 port switch. However, the cost of the switch gets cheaper with technology becoming more efficient. Additionally, the added security features which is one of the most important aspects of network switch in the present generation, adds up to the overall cost of network switch.
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Network Switches Companies - Cisco Systems (US) and Huawei Technology (China) are the Key Players
Cisco Systems is one of the market's largest providers of Network switches and solutions. The company has a diversified set of offerings through its business segments and has a strong worldwide presence. Cisco Systems also establishes strategic partnerships with its suppliers, dealers, retailers, and other stakeholders. For instance, in 2022, the company announced Cisco Catalyst 9000 network switches portfolio, based on the powerful Unified Access Data Plane (UADP) ASIC silicon, to bring more enterprise-grade switching capabilities to the industrial edge for industries operating in harsh environments and supporting critical infrastructure like utilities, oil and gas, roadways, and rail. Partnerships, acquisitions, and collaborations have been the major strategies adopted by the company for its business growth.
Huawei Technologies is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. Huawei Technologies holds a strong portfolio of products and solutions in the Network switch market. The company’s broad range of Network switch products and solutions are used across diverse verticals such as government, financial institutions, healthcare IT, and technology providers. Huawei Technologies’ Network switch products have been adopted by more than 12,000 customers worldwide in industries including government, finance, energy, and transportation, helping customers upgrade to intelligent business systems. Besides its headquarters in China, the company has 66 offices in more than 60 countries.
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