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Bridges, Gateways And Routers Market Size, Industry Share, Trends Analysis Report 2024-2033
Bridges, Gateways And Routers Market Size
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According to The Business Research Company's, The bridges, gateways and routers market size has grown steadily in recent years. It will grow from $34.24 billion in 2023 to $35.8 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to network expansion, internet growth, enterprise networking, telecommunications infrastructure.
The bridges, gateways and routers market size is expected to see strong growth in the next few years. It will grow to $44.38 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to 5g and next-generation networks, edge computing, iot and industrial automation, cloud computing and data centers. Major trends in the forecast period include 5g and edge computing, software-defined networking (sdn), ipv6 adoption, wireless broadband and mobile routers.
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Market Drivers and Trends:
The bridges, gateways and routers market are expected to be aided by rapid growth in investments in smart city projects in many countries globally. Smart city technologies use information and communication technologies to efficiently manage and operate urban services including transportation systems, water supply, and law and order. These technologies are enabled through Cyber-Physical Systems (CPS), Internet of Things (IoT), Wireless Sensor Networks (WSNs), Cloud Computing, and Unmanned Aerial Vehicles (UAVs). Efficient networking and communication protocol is required for the proper functioning of all these technologies and for these bridges, gateways and routers are involved. Smart city technologies are integrated with electrical and electronic components, thereby benefitting the companies operating in this market. For instance, in March 2023, according to Global X ETF, a US-based fund management firm, with the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) in November 2021, the United States took a significant step towards improving its infrastructure. Over the next ten years, the IIJA is going to invest $550 billion to improve roads, bridges, airports, and railroads, extend access to clean drinking water and broadband internet, and achieve environmental justice. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China.
The companies in the bridges, gateways and bridges, gateways and routers market are focusing on the usage of sustainable materials for the construction of infrastructure. Sustainable materials are produced from raw materials that are renewable and sourced in a manner that does not negatively impact the environment. They are natural, renewable and carbon neutral and use less energy to extract. For example, in May 2022, in Luxembourg, the 1.2 km long bridge, connecting Esch-sur-Alzette with Esch-Belval, was being made with steel which is sustainable as well as designed to last for long time. The bridge does not need any protective coating now or in the future, therefore, maintenance is low even though usage remains high. It is eco-friendly and meets all cost, design, strength requirements.
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Major Key Players of the Market:
Cisco Systems Inc., D-Link Corporation, NETGEAR Inc., NXP Semiconductors N.V., Notion Labs Inc., Intel Corporation, TE Connectivity Ltd., Dell Technologies Inc., Hewlett Packard Enterprise Company, ASUSTeK Computer Inc., Huawei Investment & Holding Co. Ltd., Microchip Technology Inc., Helium Systems Inc., Estimote Inc., Juniper Networks Inc., Arista Networks Inc., Extreme Networks Inc., Fortinet Inc., Palo Alto Networks Inc., F5 Networks Inc., Citrix Systems Inc., Riverbed Technology Inc., Zyxel Communications Corp., Allied Telesis Inc., Advantech Co. Ltd., ABB Ltd., Alcatel-Lucent Enterprise, Brocade Communications Systems Inc., Check Point Software Technologies Ltd., Ciena Corporation, Telefonaktiebolaget LM Ericsson, International Business Machines Corporation, Nokia Corporation, Radware Ltd., Symantec Corporation, ZTE Corporation, Ubiquiti Networks Inc.
Bridges, Gateways And Routers Market 2024 Key Insights:
• The bridges, gateways and routers market size is expected to see strong growth in the next few years. It will grow to $44.38 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
• Smart City Investments Drive Growth In Bridges, Gateways, And Routers Market
• Sustainable Materials Transforming The Bridges, Gateways, And Routers Market
• The Asia-Pacific was the largest region in the bridges, gateways and routers market in 2023
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