CHICAGO, Feb. 13, 2023 /PRNewswire/ — The network switches market is projected to grow from USD 33.0 billion in 2023 to reach USD 45.5 billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.6% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of the network switches market is driven by the augmented global demand for data centers coupled with need for simplified networking communication management and automation and growing investments in digital platforms.
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By type, the fixed configuration switches are projected to hold the larger share of the network switches market during the forecast period.
The market for fixed configuration switches is expected to hold a larger share of the network switches market during the forecast period. Fixed configuration switches include managed, unmanaged and PoE switches. The reason for the growth can be attributed to the fact that fixed configuration switches provide ethernet switching solutions for a variety of applications, including enterprise branch offices, campus, midsize companies, and small and medium-sized business (SMB), and provide access security, sustainability, operations excellence, and enhanced work experience. These factors play a vital role in fueling the demand for fixed configuration switches across the globe.
By switching port, 200 GBE and 400 GBE switching port segment is projected to exhibit highest CAGR for the network switches market during the forecast period.
By switching port, 200 GBE and 400 GBE switching port segment exhibited highest growth in 2022 and is expected to retain the trend during the forecast period. The 200 GbE to 400 GbE network switches are optimized and offer economic switching solutions for data center and non-data center applications. Moreover, in large scale networks, the switching speed between switches is a critical factor for increasing efficiency and lowering costs. These switching ports are designed for superior performance in demanding enterprise data centers and storage environments. Hyperscalers have been the primary drivers for 200 GBE & 400 GBE demand. But other segments of the market, including telecommunications service providers rolling out 5G networks and high-end enterprises in verticals such as financial services, will also adopt the technology.
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North America is expected to hold the largest share in the market by 2028.
The North American region is expected to hold the largest share of the network switches market during the forecast period. This can be attributed to the increasing IT capacity requirements and rising adoption of new data center technologies. The presence of prominent players such as Cisco Systems (US), Arista Networks (US), Juniper Networks (US), HPE Aruba (US), and NETGEAR (US) has contributed to the growth of the network switches market by providing a comprehensive range of network switches for various industry verticals. Moreover, new technological developments and an increase in R&D investments in the region are contributing to market growth.
Key players in the network switches market include Cisco Systems (US), Huawei Technology (China), HPE Aruba (US), Juniper Networks (US), Arista Networks (US), NETGEAR (US), D-Link Corporation (US), Extreme Networks (US), NVIDIA Corporation (US), TRENDnet (US), Lantronix (US). Apart from this, Alcatel Lucent Enterprise (France), Dell Technologies (US), Pica8, Inc. (US), Larch Networks (US), STORDIS (Germany), IP Infusion (US), Buffalo Americas, Inc. (US), Linksys (US), TELEFLY Telecommunications Equipment Co., Ltd. (China), Allied Telesis (Japan), Moxa (Taiwan) are among a few emerging companies in the network switches market.
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