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.
Post time: May-26-2023
