The global digital crosspoint switch market to grow at a CAGR of 9.03 % during the period 2017-2021.
The report, Global Digital Crosspoint Switch Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is the potential explosion of cloud data servers. Storing data in the cloud is proving to be an effective medium for enterprises worldwide. Commercial data requires more storage, which will vary in SMEs and large enterprises. With increased demand for data generated through IoT, the business enterprises are storing these data in cloud-based data servers.
According to the report, one of the major drivers for this market is the increasing deployment of data centers. In 2016, the global hyperscale data center market was valued at $25.73 billion and is expected to grow at a CAGR of 11.12% to reach $43.60 billion by 2021. Big data analytics and other complex cloud-based applications are called as analytical applications, which require high computing power. Analytical applications are virtualized and operated in physical servers in the data centers. Thus, increase in the construction of data centers is driven by the rise in demand for cloud-based services and big data analytics.