Network Switches Market Size Anticipated to Reach USD 45.5 Billion by 2028

The Network Switches Market Size is projected to grow from USD 33.0 billion in 2023 to USD 45.5 billion by 2028, at a compound yearly growth rate (CAGR) of 6.6%.

Pune, 23/05/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

Network Switches Market Size

The substantial growth anticipated in the Network Switches Market Size is highlighted in the report "Network Switches Market 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." Over the course of the projected period, the market is expected to increase 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. The growing need for high-speed internet access and the quick development of data centres are the main factors propelling the market's progress. Another major driver of the market expansion is the increasing use of cloud services and technological advancements.

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The increased demand for data centres around the world, the requirement for automated and streamlined networking communication management, and the rise in investments in digital platforms are all factors driving the expansion of the network switches industry. The need for reliable and effective data centres has increased as organisations move more and more to digital operations and cloud-based services. Consequently, there is now a greater need for network switches, which are necessary to manage the intricate communication networks found in these data centres. The adoption of modern network switches is also being driven by the need for networking automation in order to improve productivity, decrease human error, and streamline processes. The industry is growing because businesses are also making significant expenditures in digital platforms in order to improve their digital infrastructure and capabilities.

Network Switches Market Segmentation

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, the market for fixed configuration switches is anticipated to hold a bigger part of the network switches market. For a variety of applications, fixed configuration switches—which include managed, unmanaged, and Power over Ethernet (PoE) switches—are necessary. These switches provide reliable Ethernet switching options appropriate for campuses, midsize organisations, small and medium-sized enterprises, and enterprise branch offices (SMBs). The all-encompassing advantages they offer, like improved work environment, operational sustainability, proficiency in operations, and access security, are what propel their popularity. Because of these benefits, fixed configuration switches are becoming more and more popular among businesses looking to upgrade their networking infrastructure.

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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 segments saw the fastest growth in 2022 and are predicted to continue in this direction for the duration of the prediction. These cutting-edge network switches are designed to provide affordable switching options for applications that don't require data centres. 200 GbE and 400 GbE ports are very useful because switching speed between switches in large-scale networks is critical to improving efficiency and cutting costs. Particularly developed for optimal performance in demanding enterprise data centres and storage settings, these ports are enterprise-grade. The main forces behind the demand for 200 GbE and 400 GbE ports have been hyperscalers. Furthermore, this technology is anticipated to be adopted by other market segments, such as high-end businesses in industries like financial services and telecom service providers deploying 5G networks. In the upcoming years, it is projected that this broad adoption would further propel the expansion of the 200 GbE and 400 GbE switching port market.

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Network Switches Market Regional Analysis

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

Over the course of the forecast period, the network switches market is anticipated to be dominated by the North American region. The growing acceptance of new data centre technologies and the growing need for IT capacity are responsible for this dominance. The market's expansion has been greatly aided by the existence of well-known companies like NETGEAR (US), HPE Aruba (US), Arista Networks (US), Juniper Networks (US), and Cisco Systems (US). These businesses boost the market presence of the area by offering a wide selection of network switches customised for different industry verticals. Moreover, sustained technological progress and augmented investments in research and development (R&D) in the area are propelling market expansion, hence establishing North America as a pivotal participant in the worldwide network switches industry.

Network Switches Market Key Players

Key players in the network switches companies 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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