Press release
Switching Equipment Global Market Report 2024 - By Share, Size, Demand, Report, Forecast To 2033
Switching Equipment Market
The switching equipment market size is expected to see strong growth in the next few years. It will grow to $61.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to 5g deployment, edge computing, cloud computing and data centers, iot and industrial automation. Major trends in the forecast period include cloud data centers, high-performance ethernet switches, wireless backhaul, intent-based networking (ibn), ai and machine learning.
Market Overview -
Switching equipment is any mechanical, electrical, pneumatic, or hydraulic device used to make and break the electric current in a circuit.
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IOT Popularity Drives Growth In The Switching Equipment Market
The increase in the popularity of IoT devices among the populace will led to a rise in the switching equipment market. IoT is becoming popular as a greater number of people are using smart devices and are mostly working on their errands, office work, communication, sending/receiving messages using smart devices, thus overwriting the traditional way. For instance, in 2021, Socomec, a Low Voltage (LV) Industrial Power Switching specialist based in France, has announced the release of New SIRCOVER with enhanced features in Manual Transfer Switches. All of these critical features are highlighted in the New SIRCOVER, which includes an Increased Terminal Clearance, with Enhanced Termination Capacity through Integrated Spreaders, that enables secure Aluminum termination, as well as Interphase barriers for added operations safety and an ergonomic Retrofit solution for the COS legacy range.
Competitive Landscape -
Major companies operating in the switching equipment market include ADVA, Ciena Corporation, Ericsson, Huawei Technologies, Alcatel-Lucent, ZTE, Infinera Corporation, Fujitsu Limited, ECI Telecom Ltd, Cisco Systems, Inc, Tellabs, Inc, ADTRAN Inc, Aliathon Technology Ltd., NEC Corporation, Huawei Technologies, Nokia Siemens, Cyan, Ekinops, JDS Uniphase Corporation, BTI
Power Over Ethernet (POE) Technology Emerges As A Key Trend In The Switching Equipment Market
Power over Ethernet (PoE) technology is gaining importance in the switching equipment market, thus emerging as a major trend for network switches. PoE switches are becoming common because they reduce clutter and can be added to both smart and managed switches. PoE technology also has the ability to combine the networking and electrical power into one cable and provide data connection and electrical power to the powered devices. PoE installation can provide many benefits such as flexibility, reliability, and cost-efficient. For instance, there is no need for the users to purchase and install additional electrical wires and outlets for PoE network switches and this saves installation and maintenance costs.
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Key Segments -
The switching equipment market covered in this report is segmented -
1) By End User: Small Enterprises, Medium Enterprises, Large Enterprises
2) By End-Use Industry: Automotive, Healthcare, Telecommunications
3) By Application: Enterprise And Industrial Usage, Telecommunication Providers, Servers And Storage Providers
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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