Global Network Switches Market Eyes $45.5 Billion Valuation, Unveils Promising Growth

The Network Switches Market is expected to develop at a compound annual growth rate (CAGR) of 6.6%, rising from USD 33.0 billion in 2023 to USD 45.5 billion by 2028.

Pune, 16/02/2024 (informazione.it - comunicati stampa - information technology)

According to predictions, the Network Switches Market is expected to develop significantly, rising from USD 33.0 billion in 2023 to USD 45.5 billion by 2028. This trajectory shows a 6.6% Compound Annual Growth Rate (CAGR) for the 2023–2028 projected period. The market's growth is being propelled by elements such the proliferation of Internet of Things (IoT) devices, the growing acceptance of cloud-based services, and the growing need for high-performance networking solutions. The market for network switches is expanding rapidly due in part to the increase in data traffic as well as the requirement for improved network infrastructure to accommodate cutting-edge technology.

A considerable increase in the need for data centres throughout the world is driving the expansion of the network switches market. One of the main drivers is the growing demand for automated and streamlined networking communication management as companies look for effective ways to handle expanding data volumes. Substantial expenditures made on digital platforms also aid in the market's growth. Network switches are essential to addressing the demands of organisations that prioritise a streamlined and agile networking infrastructure, which in turn drives the market's overall growth.

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By type, the fixed configuration switches are projected to hold the larger share of the network switches market during the forecast period.

Over the course of the forecast period, fixed configuration switches are expected to hold a sizable market share and dominate the network switches market. Fixed configuration switches, which include managed, unmanaged, and Power over Ethernet (PoE) switches, provide adaptable Ethernet switching solutions appropriate for a range of applications. These programmes are used by midsize corporations, small and medium-sized businesses (SMBs), campus environments, and enterprise branch offices. The growing need for enhanced work experiences, sustainability, operational excellence, and access security has led to the global use of fixed configuration switches, hence cementing their prominent position in the industry.

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By switching port, 200 GBE and 400 GBE switching port segment is projected to exhibit highest CAGR for the network switches market during the forecast period.

The 200 GbE and 400 GbE switching port category had significant increase in 2022, and this trend is anticipated to continue for the duration of the forecast. The optimised design of 200 GbE to 400 GbE network switches, which offer affordable switching solutions for both data centre and non-data centre applications, is responsible for the increase in demand for these switches. These high-speed switching ports are ideal for demanding enterprise data centres and storage environments because they significantly increase efficiency and lower costs in large-scale networks. Hyperscalers have been the main drivers of this segment's increased demand, but other market segments, such as high-end businesses, particularly in the financial services industry, and telecom service providers implementing 5G networks, are also expected to adopt this cutting-edge technology.

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North America is expected to hold the largest share in the market by 2028.

Throughout the course of the forecast period, the network switches market is expected to be dominated by the North American region. The region's extensive adoption of state-of-the-art data centre technology and the growing need for IT capacity are the main drivers of this supremacy. Because they provide a wide range of network switches suited to different business verticals, major companies in the market, such as Cisco Systems (US), Arista Networks (US), Juniper Networks (US), HPE Aruba (US), and NETGEAR (US), have had a substantial impact on the expansion of the market. Additionally, the region's ongoing emphasis on cutting-edge technological developments and higher R&D spending support the market's growth for network switches.

Key players in the network switches market include Cisco Systems (US), Huawei Technology (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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