The Network Switches Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Network Switches Global Market Report 2024, The network switches market size has grown strongly in recent years. It will grow from $33.9 billion in 2023 to $36.4 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to increased internet penetration, data center modernization, growth of cloud computing, demand for high-speed connectivity, globalization of businesses.
The network switches market size is expected to see strong growth in the next few years. It will grow to $48.64 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to edge computing adoption, increasing cybersecurity concerns, focus on network automation, smart city initiatives, energy efficiency and green networking. Major trends in the forecast period include intent-based networking, edge computing and iot integration, multi-gigabit ethernet for wireless access points, cloud-managed switches, open networking and white-box switches.
Adoption of cloud computing is expected to propel the growth of the network switch market going forward. Cloud computing encompasses the provision of computer services via the internet (commonly referred to as the cloud), encompassing servers, storage, databases, networking, software, analytics, and intelligence. The shift towards cloud-based infrastructure drives the demand for network switches with higher bandwidth and better management capabilities, as they are essential for establishing connectivity between cloud servers, storage systems, and end-users. For instance, in December 2021, according to Eurostat, a Europe-based intergovernmental organization, 41% of EU enterprises used cloud computing in 2021, primarily for hosting their e-mail systems and storing files in electronic form, an increase of 5% compared to 2020. Therefore, the adoption of cloud computing is driving the growth of the network switch market.
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The network switches market covered in this report is segmented –
1) By Type: Fixed Configuration Switches, Managed Switches, Unmanaged Switches, PoE Switches, Modular Switches
2) By Switching Port: 100 MBE And 1 GBE, 2.5 GBE And 5 GBE, 10 GBE, 25 GBE And 50 GBE, 100 GBE, 200 GBE And 400 GBE
3) By End User: Telecommunication Providers, Servers And Storage Providers, Enterprise And Industrial Use
Product innovations are a key trend gaining popularity in the network switch market. Major companies operating in the network switch market are using advanced technologies to sustain their position in the market. For instance, in January 2023, Rackus Networks, a US-based software development company, launched the ICX 8200 series, a new line of entry-level, scalable edge switches with 25 Gbps uplink ports. The first entry-level enterprise switch that offers fiber-to-the-room connectivity is part of this series. The ICX 8200 series is a wired platform created to support the next generation of wireless-first and IoT campus networks. It is optimized for the delivery of wireless services.
The network switches market report table of contents includes:
- Executive Summary
- Network Switches Market Characteristics
- Network Switches Market Trends And Strategies
- Network Switches Market - Macro Economic Scenario
- Global Network Switches Market Size and Growth
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- Global Network Switches Market Competitive Benchmarking
- Global Network Switches Market Competitive Dashboard
- Key Mergers And Acquisitions In The Network Switches Market
- Network Switches Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- Dell Technologies Inc
- Huawei Technologies Co
- Intel Corporation
- Cisco Systems Inc
- Quanta Computer Incorporated
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