London, April 10, 2024 (GLOBE NEWSWIRE) -- Global network switches market is expected to reach significant market value of US$ 47.9 Bn in 2030 at a CAGR of 6.3% between the projection years between 2023 and 2030. This market growth highlights the Increasing global need for efficient administration of telecom services and the growth in internet penetration.
The global network switches market has been growing steadily over the years and is expected to continue expanding. Factors such as the increasing need for high-performance data centers, the rise of software-defined networking (SDN), and the deployment of advanced network infrastructure in various industries contribute to this growth.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$31.2 Bn | |
| Estimated Market Size in 2030 | US$47.9 Bn | |
| CAGR | 6.3% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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Network switches play a crucial role in facilitating fast and efficient data transmission within local area networks (LANs) and wide area networks (WANs), driving the adoption of switches with higher bandwidth capabilities such as 10GbE, 25GbE, 40GbE, and 100GbE.
The proliferation of cloud computing, big data analytics, and other data-intensive applications has led to the expansion of data center infrastructure. Network switches are essential components of data center networks, providing connectivity between servers, storage devices, and other network resources.
SDN technologies are gaining traction due to their ability to simplify network management, improve agility, and enhance scalability. SDN decouples the control plane from the data plane, enabling centralized management and programmability of network devices.
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Key Research Insights
- The fixed configuration switches category dominated the industry in 2022.
- The telecom service providers category controlled the market in 2022.
- North American region is anticipated to account for the largest share of the global network switches market.
- The 100 GBE segment is anticipated to dominate in terms of market share for network switches globally.
Insights into Segmentation Analysis
Telecom Service Providers at the Helm
- The telecom service providers segment dominated the market in 2022.
- The increasing adoption of these switches may be attributed to their beneficial features by telecommunications carriers.
- Telecom companies also use these switches to manage services better and outperform competitors.
100 GBE Segment to Flourish Ahead
- The 100 GBE category dominated the industry in 2022. The network switch market's shift to 100GbE as the most preferred network connection speed demonstrates the high customer acceptance of public cloud services.
- Some of the biggest hyperscale cloud service provider data centre networks have made 100GbE the standard switch port speed for the past few years.
- 100 GbE networks began to be widely used as data centres transitioned away from 40 GbE and as the price of 100 GbE networking equipment declined.
Fixed Configuration Switches Category Continues to Lead
- The fixed configuration switches segment dominated the market in 2022. Managed, unmanaged, and PoE switches are examples of fixed-configuration switches.
- Fixed configuration switches offer ethernet switching solutions for various applications, including campus, midsize businesses, enterprise branch offices, and small and medium-sized businesses (SMBs). These switches also provide access security, sustainability, operations excellence, and improved work experience, which is the reason for the growth.
Key Report Highlights
- Network security has become a top priority for organizations with the increasing frequency and sophistication of cyber threats.
- The network switches market is expected to witness further growth with the continued expansion of digital infrastructure.
- The deployment of advanced network infrastructure in various industries contribute to this growth.
Insights into Regional Analysis
Proliferation of Data Centres to Bring in Profits to Asia Pacific
- Growing government initiatives, and investments from Asia Pacific's technologically advanced nations, such as China, Japan, and India, are propelling the region's data centre deployments, which is anticipated to propel the market for network switches.
- The need for network switches is also fueled by the growth of small and medium-sized businesses and their integration of digital technology.
North America Continues to March Ahead
- In order to boost the use of network switches in the industrial sector, several governments are investing in high-speed internet connectivity. They are concentrating on expanding their reach to rural residents. For instance, the USDA Secretary declared in February 2023 that the US Department of Agriculture had committed $63 million to give those who live and work in rural areas access to high-speed internet.
- The government of Canada invested in the industrial sector's next-generation wireless technology innovation in April 2021.
- With the help of this financing, Redline will be able to build Industrial 5G, a 5G wireless solution that provides the speeds and bandwidth required to optimise the advantages of the Internet of Things.
Key Companies Profiled in the Global Network Switches Market
- Cisco Systems
- Huawei Technologies
- D-Link Corporation
- NVIDIA Corporation
- Linsys
- TP-Links
- Arista Network
- Juniper Networks
- HPE Aruba
- Alcatel Lucent Enterprise
- NETGEAR
Global Network Switches Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Switch Type Coverage, By Port Type Coverage, By End User Coverage, By Geographic Coverage and By Companies): https://www.fairfieldmarketresearch.com/report/network-switches-market
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