Press release
Switching Equipment Market Size, Share & Industry Trends
Switching Equipment
Switching Equipment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $61.95 billion In 2028 At A CAGR Of 7.2% :
The switching equipment market size has grown strongly in recent years. It will grow from $44.33 billion in 2023 to $46.99 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to network expansion, broadband and internet growth, data center modernization, enterprise networking.
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.
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Switching Equipment Market Major 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 Driver - 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.
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Prominent Trend - 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.
Switching Equipment Market Players
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
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Largest And Fastest Growing Region In The Market
North America was the largest region in the switching equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the switching equipment market during the forecast period. The regions covered in the switching equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Switching Equipment Market Report Structure
3. Switching Equipment Market Trends And Strategies
4. Switching Equipment Market - Macro Economic Scenario
5. Switching Equipment Market Size And Growth
…..
27. Switching Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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