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Network Switches Market Size, Share, Demands, Key Players, Drivers and Forecasts to 2028

03-30-2023 08:22 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ReportsnReports

Network Switches Market

Network Switches Market

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.

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The report profiles key players in the network switches market with their respective market ranking analysis. Prominent players profiled in this report are include are Cisco Systems (US), Huawei Technology (China), HPE Aruba (US), Juniper Networks (US), Arista Networks (US), NETGEAR (US), D-Link Corporation (US), Extreme Networks (US), NVIDIA Corporation (US), TRENDnet (US), Lantronix (US). Apart from this, Alcatel Lucent Enterprise (France), Dell Technologies (US), Pica8, Inc. (US), Larch Networks (US), STORDIS (Germany), IP Infusion (US), Buffalo Americas, Inc. (US), Linksys (US), TELEFLY Telecommunications Equipment Co., Ltd. (China), Allied Telesis (Japan), Moxa (Taiwan).

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, high operational cost of network switches limiting 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 center during the forecast period."

The network switches market for data center end-user segment is includes into telecom service providers, cloud service providers and large enterprises or private cloud. 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.

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"Market for 100 MBE & 1 GBE switching port segment is expected to account for largest share during the forecast period"

The market for 100 MBE & 1 GBE switching port segment is expected to account for 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 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.

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"Europe to hold a significant share of the network switches market during the forecast period"

Europe is expected to hold a significantly large share for 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.

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