Global Network Switches Market Set for Robust Growth, Projected to Reach $48.64 Billion by 2028
Network Switches Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Network Switches Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 8, 2024 /EINPresswire.com/ -- The global network switches market, which was valued at $33.9 billion in 2023, is anticipated to grow to $36.4 billion in 2024, registering a compound annual growth rate (CAGR) of 7.4%. It will grow to $48.64 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. This growth is driven by increased internet penetration, data center modernization, the expansion of cloud computing, rising demand for high-speed connectivity, and globalization of businesses.
Rising Demand for High-Speed Connectivity and Cloud Computing Drives Market Growth
The adoption of cloud computing and the demand for high-speed connectivity are major factors fueling the growth of the network switches market. Cloud computing, which offers various computing services over the internet, including servers, storage, databases, and networking, necessitates robust network switches for efficient connectivity between cloud servers, storage systems, and end-users. Eurostat reported a significant increase in cloud adoption among EU enterprises in 2021, underscoring the pivotal role of cloud-based infrastructure in driving market demand.
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Key Players and Technological Advancements
Major companies driving innovation in the network switches market include Dell Technologies Inc., Huawei Technologies Co., Intel Corporation, Cisco Systems Inc., Broadcom Inc., and more. These companies are focused on developing advanced technologies such as ethernet platforms to enhance performance and efficiency. For instance, Nvidia Corporation launched the NVIDIA Spectrum-X platform in May 2023, integrating the Spectrum-4 Ethernet switch with the BlueField-3 Data Processing Unit (DPU), significantly improving AI performance and power efficiency.
The network switches market is segmented based on:
• Type: Fixed Configuration Switches, Managed Switches, Unmanaged Switches, PoE Switches, Modular Switches
• 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
• End User: Telecommunication Providers, Servers And Storage Providers, Enterprise And Industrial Use
Geographical Insights: North America Leads the Market
North America emerged as the largest region in the network switches market in 2023, driven by extensive technological advancements and widespread adoption of cloud computing and IoT solutions. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities across Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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Network Switches Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Network Switches Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on network switches market size, network switches market drivers and trends, network switches market major players, competitors' revenues, market positioning, and market growth across geographies. The network switches market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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