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Ethernet Switch Market Report 2024 - Ethernet Switch Market Trends, Growth And Forecast
Ethernet Switch Market
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According to The Business Research Company's, The ethernet switch market size has grown strongly in recent years. It will grow from $5.29 billion in 2023 to $5.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to proliferation of data-intensive applications, enterprise network expansion, transition to gigabit and 10-gigabit ethernet, demand for improved network performance, data center network modernization.
The ethernet switch market size is expected to see strong growth in the next few years. It will grow to $7 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to migration to higher-speed ethernet standards, rise in edge computing deployments, adoption of intent-based networking (ibn), growing emphasis on network security, expansion of 5G networks. Major trends in the forecast period include multi-gigabit ethernet for wireless connectivity, emergence of intent-based networking (IBN), demand for cloud-managed switches, integration of artificial intelligence (AI) for network optimization, growing importance of network analytics.
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Market Drivers and Trends:
The surge in demand for high-speed internet facilities is expected to propel the growth of the ethernet switch market going forward. High-speed internet is defined as a connection to the internet with a minimum download speed of 25 Mbps and a maximum bandwidth of 1,024 kbps in both the upstream and downstream directions. Ethernet switches aid in boosting the network's dependability and boosting data rates up to about 1,000 Mbps. For instance, in October 2021, according to a report shared by the United States Census Bureau, a US-based principal agency of the U.S. Federal Statistical System, an estimated 78.1 percent of American households had a high-speed Internet connection in 2020. Even though the majority of Americans have access to computers and high-speed Internet, there are variances in high-speed internet use by age and racial groupings. Therefore, the surge in demand for high-speed internet facilities is propelling the growth of the ethernet switch market.
Technological advancements have emerged as a major trend gaining popularity in the ethernet switch market. Major companies operating in the ethernet switch market are developing technologically advanced products to strengthen their position in the market. For instance, in September 2022, Antaira Technologies, LLC, a US-based industrial networking and communication products manufacturing company, launched the LNP-0800G and LNP-0800G-24 unmanned ethernet switches featuring persistent Power over Ethernet (PoE) technology. Antaira's 802.3bt PoE-managed switches now incorporate persistent PoE technology. This technology makes sure that powered devices continue to receive power during firmware updates so that data collection does not stop. Additionally, it disables the reset of connected devices after power is restored. Both switches provide store-and-forward transmission capabilities that minimize collisions and frame errors, while high EFT and ESD protection guard against interference in high electromagnetic situations like automation systems.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Dell Technologies, Huawei Technologies Co. Ltd., Siemens SE, Cisco Systems Inc., Honeywell International, Broadcom Ltd., Hewlett Packard Enterprise, Eaton Corporation, ASUSTeK Computer Inc, Parker Hannifin Corporation, NXP Semiconductors N.V., Juniper Networks Inc., Iron Mountain, Arista Networks, HPE Aruba, TP-Link, Belden Inc., Advantech Co. Ltd., Alcatel-Lucent Enterprise, Beckhoff Automation, New H3C Technologies Co. Ltd., NETGEAR Inc., Black Box Network Services, D-link Corporation, Moxa Inc., Linksys, Allied Telesis Inc., TRENDnet, Inc., Brocade Communications Systems, TELEFLY Telecommunications Equipment Co., Ltd.
Ethernet Switch Market 2024 Key Insights:
• The ethernet switch market size is expected to see strong growth in the next few years. It will grow to $7 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Growing Demand For High-Speed Internet Drives Ethernet Switch Market Expansion
•
• North America was the largest region in the ethernet switch market in 2023
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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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