Estimated Growth Potential Of The Network Switches Market 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
According to The Business Research Company’s Network Switches Global Market Report 2023, The global network switches market is expected to grow from $31.54 billion in 2022 to $33.90 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The network switches market is expected to reach $44.7 billion in 2027 at a CAGR of 7.2%.
North America held the largest network switches market share.
Network Switches Market Driver
Adoption of cloud computing is expected to propel the growth of the network switch market going forward. Cloud computing encompasses the provision of computer services via the internet (commonly referred to as the cloud), encompassing servers, storage, databases, networking, software, analytics, and intelligence. The shift towards cloud-based infrastructure drives the demand for network switches with higher bandwidth and better management capabilities, as they are essential for establishing connectivity between cloud servers, storage systems, and end-users. For instance, in December 2021, according to Eurostat, a Europe-based intergovernmental organization, 41% of EU enterprises used cloud computing in 2021, primarily for hosting their e-mail systems and storing files in electronic form, an increase of 5% compared to 2020. Therefore, the adoption of cloud computing is driving the growth of the network switch market.
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Key Network Switches Market Segments
The global network switches market is segmented –
1) By Type: Fixed Configuration Switches, Managed Switches, Unmanaged Switches, PoE Switches, Modular Switches
2) By Switching Port: 100 MBE And 1 GBE, 2.5 GBE And 5 GBE, 10 GBE, 25 GBE And 50 GBE, 100 GBE, 200 GBE And 400 GBE
3) By End User: Telecommunication Providers, Servers And Storage Providers, Enterprise And Industrial Use
Network Switches Market Prominent Players
Major players in the network switches market are Dell Technologies Inc, Huawei Technologies Co., Intel Corporation, Cisco Systems Inc., Quanta Computer Incorporated, Broadcom Inc., Hewlett Packard Enterprise Development LP, Fujitsu Limited, NEC Corporation, ALE International SAS, ZTE Corporation, Microchip Technology Inc., Juniper Networks Inc., Super Micro Computer Inc., Fortinet Inc., Arista Networks Inc., Ciena Corporation, Avaya LLC, Advantech Co. Ltd., Ubiquiti Inc., Extreme Networks, Adtran Inc., Netgear Inc., D-Link Corporation, Belkin International Inc., Mellanox Technologies Ltd., Allied Telesis Inc., Ruckus Networks, PLANET Technology Corporation, and Alaxala Networks Corp.
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Prominent Network Switches Market Trend
Advancements in technology are a key trend gaining popularity in the network switch market. Major companies operating in the network switch market are using advanced technologies to sustain their position in the market. For instance, in January 2023, Rackus Networks, a US-based software development company, launched the ICX 8200 series, a new line of entry-level, scalable edge switches with 25 Gbps uplink ports. The first entry-level enterprise switch that offers fiber-to-the-room connectivity is part of this series. The ICX 8200 series is a wired platform created to support the next generation of wireless-first and IoT campus networks. It is optimized for the delivery of wireless services.
The Network Switches Global Market Report 2023 provides comprehensive insights on the network switches market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the network switches market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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