DUBLIN, March 28, 2023 /PRNewswire/ -- The "Network Switches Market - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The network switches market is projected to grow from USD 33.0 billion in 2023 and is projected to reach USD 45.5 billion by 2028; it is expected to grow at a CAGR of 6.6 % from 2023 to 2028.
The need for simplified networking communication management and automation and growing investments in digital platforms coupled with the augmented global demand for data centers is expected to fuel the growth of the network switches market.
However, the high operational cost of network switches limits the growth of the network switches market.
Large Enterprise or Private Cloud segment to hold the largest share of the network switches market for data centers during the forecast period
The network switches market for the data center end-user segment is includes telecom service providers, cloud service providers, and large enterprises or private clouds.
A large majority of enterprises use or are planning to use hybrid cloud infrastructure to maintain tight control over mission-critical data. As a result, for several enterprises, the hybrid cloud runs in multiple different types of data centers. Connecting to a hybrid cloud means connecting many or all these types of data centers, thereby pushing the need for network switching solutions.
Growing penetration of digital services across several industry verticals has resulted in the increased demand for data centers for storage, computing, and network management. This, in turn, will propel the demand for network switches.
Market for 100 MBE & 1 GBE switching port segment is expected to account for the largest share during the forecast period
The market for 100 MBE & 1 GBE switching port segment is expected to account for the largest share of the network switches market during the forecast period.
This can be attributed to the increasing adoption of 100 MBE & 1 GBE switching ports in non-data center applications like small businesses, campuses of universities, and k-12 schools. For many small businesses, a 1 GbE switch is sufficient when transferring data. These devices support a bandwidth of up to 1000Mbps which is a drastic improvement on the 100Mbps of Fast Ethernet.
Market for telecom service providers of the data center segment to exhibit the highest growth during the forecast period
Significant growth in the telecommunications industry across the globe is one of the key factors driving the growth of the network switches market.
The increasing need for advanced high-availability switching for network infrastructure is also providing a boost to market growth. Telecommunication systems have rapidly transformed with increasing demand for data connectivity in the last few years.
Managing these systems has become tedious not only in infrastructure and functionality management but also in scope management. With the help of network switches, one can keep track of telecom infrastructure and provide real-time visibility and makes remote troubleshooting possible.
Europe to hold a significant share of the network switches market during the forecast period
Europe is expected to hold a significantly large share of the network switches market during the forecast period. The countries that constitute a major portion of the network switches market in Europe include the Germany, UK, Italy.
The European network switch market is expected to witness significant growth opportunities, as the major players in the region are focusing on expanding their presence in various verticals. The rising adoption of cloud-based services is helping in the growth of retail and wholesale colocation services in the market.
The market is witnessing increased demand for colocation spaces across existing and upcoming data centers. The increase in the demand for colocation spaces is in turn likely to provide a boost to the adoption of network switches for enhancing connectivity.
Premium Insights
- Need for Simplified Networking Communication Management to Boost Market
- Fixed Configuration Switches to Hold Larger Market Share During Forecast Period
- 200 Gbe & 400 Gbe Segment to Grow at Highest CAGR During Forecast Period
- Data Center Segment to Grow at Higher CAGR During Forecast Period
- Network Switches Market to Grow at Highest CAGR in Asia-Pacific During Forecast Period
- China and Fixed Configuration Switches Held Largest Market Shares, by Country and Type, Respectively, in 2022
- China to Record Highest CAGR in Network Switches Market During Forecast Period
Market Dynamics
Drivers
- Need for Simplified Networking Communications Management and Automation
- Augmented Global Demand for Data Centers
- Growing Investments in Digital Platforms
Restraints
- Susceptibility of Network Switches to Security Attacks due to Technological Complexities
Opportunities
- Rising Data Volumes Across Enterprises
- Exponential Growth in Number of Devices and Technologies That Require Network Connectivity
Challenges
- High Operational Cost of Network Switches
- Lack of Trained Employees for Handling Network Switches
Value Chain Analysis
- Experts Responsible for Planning and Revising Funds
- Research and Development Engineers
- Hardware Providers
- System Integrators and Resellers
- Distributors and Suppliers
End-Users
- After-Sales Service Providers
Case Studies
- Carilion Clinic Improved Network Performance with Cisco Catalyst Series Switches
- Albert Magnus Implemented Commscope's Ruckus Series Network Switches to Achieve Better Wi-Fi Experience
- Multinational Media Company Leveraged Switches from Kyndryl to Upgrade Network Infrastructure
- Hotel in Malaysia Upgraded Security Levels with Volktek's Poe Switches
- Alarmpro Helped Food Processing Company Eliminate Network Downtime and Enable Round-The-Clock Efficiency
Technology Analysis
Key Technologies
- Terabit Switching Technology
- Ai/Ml Technology
- Security Services
- Remote Management Services
Adjacent Technologies
- Co-Packaged Optics (Cpo)
- Esnet6
Company Profiles
Key Players
- Huawei Technologies
- Juniper Networks
- Cisco Systems
- Arista Networks
- Hpe Aruba
- D-Link Corporation
- Netgear
- Extreme Networks
- Nvidia Corporation
- Trendnet, Inc.
- Lantronix
Other Players
- Alcatel-Lucent Enterprise
- IBM Corporation
- Dell Technologies
- Pica8, Inc.
- Larch Network, Ltd.
- Stordis
- Ip Infusion
- Buffalo Americas Inc.
- Linksys Holdings, Inc.
- Telefly Telecommunications Equipment Co. Ltd.
- Allied Telesis, Inc.
- Moxa Inc.
- Black Box Corporation
- Belden Inc.
- Tp-Link Corporation Limited
For more information about this report visit https://www.researchandmarkets.com/r/lwfenc
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article