ALBANY, New York, June 4, 2019 /PRNewswire/ -- The global data center networking market is expected to emerge as highly competitive due to rising demand for networking components. The major players operating in the global data center networking market include Hewlett Packard Enterprise, Cisco Systems, Inc., Arista Networks, Microsoft Corporation, and Juniper Networks. The key players are also indulging into business strategies such as mergers and acquisitions to improve their existing technologies. The players are investing heavily in the research and development activities to sustain their lead in the market. Besides, these firms aim to improve their product portfolio in order to expand their global reach and get an edge over their competitors globally.
The global data center networking market is likely to pick up a high momentum since the firms are rapidly shifting to a more user-centric and data-oriented business. According to a recent report by Transparency Market Research (TMR), the global data center networking market is expected to project a steady CAGR of 15.5% within the forecast period from 2017 to 2025. In 2016, the global market was valued around worth US$63.05 bn, which is projected to reach around a valuation of US$228.40 bn by 2025.
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On the basis of component, the global data center networking market is segmented into services, software, and hardware. Among these, the hardware segment led the market in 2016 with around 52.0% of share of data center networking market, as per the revenue. Nevertheless, projecting a greater CAGR than other segments, software segment is as well foreseen to emerge as the key segment contributing to the market growth. Geographically, North America was estimated to lead the global market in 2016. Nevertheless, Asia Pacific is likely to register the leading CAGR of 17.3% within the forecast period from 2017 to 2025.
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Rising Demand for Networking Solutions to Propel Growth in Market
Increased demand for networking solutions has initiated a need for firms to change data center as a collective automated resource centers, which provide better flexibility to shift workload from any cloud so as to improve the operational efficiency.
Rising number of internet users across the globe require high-speed interface. Companies are highly dependent on the data centers in terms of efficiency to decrease the operational cost and improve the productivity.
Nevertheless, virtualization and rising demand for end-use gadgets are the major restrictions likely to hamper growth in the data center networking market in the coming years. Rising usage of mobile devices and cloud services also is hindering the steady strides in the data center networking market.
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Popularity of Big Data to Add to Market Development in Future
Rising popularity of big data and cloud services from the industry as well as consumer is anticipated to fuel the development in the global data center networking market. Advantages such as low operational costs, flexibility, better security and safety, and improved performance are likely to proliferate the market growth.
Disaster recovery and business continuity has resulted in simplification of data center networking by saving both money and time for companies. Financial advantages along with technology is likely to augur the demand in data center networking and cloud computing.
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Companies are highly focused on data center solution providers to perform efficiently and effectively, with better productivity, high profit, and decreased prices. These goals require high-end networking technologies and upgraded performance server. It also needs a proper integration between simplified networking framework and server to reach the optimum level of performance.
The study presented here is based on a report by Transparency Market Research (TMR) titled "Data Center Networking Market (Component Type - Hardware, Software, and Services; Industry Vertical - Telecommunications, Government, Retail, Media and Entertainment, BFSI, Healthcare, and Education) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025."
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