According to the most recent global forecast up to 2028, the Network Switches Market Size, which is divided into two types of switches: fixed configuration switches and modular switches, as well as different end-user categories and switching port capacities ranging from 100 MBE & 1 GBE to 200 GBE & 400 GBE, is expected to grow significantly. Based on projections, the market is predicted to grow significantly, from current 2023 estimate of USD 33.0 billion to USD 45.5 billion by 2028, or a strong Compound Annual Growth Rate (CAGR) of 6.6%. This growth trend highlights the growing requirement for effective and scalable networking solutions to support developing digital infrastructures, which is driving the demand for network switches across a wide range of industries and geographical areas.

Network Switches Market Size Market Players

Major vendors in the Network Switches Companies include Cisco Systems (US), Huawei Technologies (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.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=18720083

Network Switches Market Size Dynamics:

Drivers: Augmented global demand for data centers

The development of revolutionary technologies like 5G, AI, and the Internet of Things is being fueled in large part by data centres. The global data centre market is expected to develop at an impressive 7.5% annually, meaning that it will have significant room to grow in the years to come. The market is predicted to climb to a valuation of USD 209.8 billion by 2032, having reached a valuation of USD 101.79 billion in 2022. The global need for data centres has increased due to the growing use of cloud migration, which is the main driver of this boom. Major data centre operators are consequently proactively broadening their footprints to accommodate the rising demands of both consumers and enterprises. Users in the United States consumed 500 megawatts (MW) of data space in 2021 alone, demonstrating the important role data centres play in sustaining the digital infrastructure that underpins the reliance of modern civilization on technology.

Restraint: Technological complexity involved in network switches making it vulnerable towards security attacks

The foundation of any network infrastructure is made up of routers, switches, and firewalls, which together are its most essential parts. These devices should also have the strictest security measures in place to protect them from potential attacks, as they are essential to the operation of the network. Unexpectedly, network managers frequently put off updating them out of concern about interruptions to network availability. Neglecting these devices' security, however, can have disastrous results because network configuration errors alone cost businesses 9% of their yearly revenue on average. Remarkably, a startling 96% of businesses fail to audit their switches and routers, making them open to attack. One of the most prevalent security flaws in these devices is the inability to modify default configurations, such as security settings and administrator login credentials. The crucial relevance of proactive security measures for network infrastructure devices is underscored by this mistake, which offers a huge vulnerability that makes it simpler for hackers to infiltrate company computers and cause serious data breaches.

Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=18720083

Opportunity: Rising data volumes across enterprises

Thanks to developments in edge computing, artificial intelligence, the Internet of Things, 5G, and machine learning applications, the landscape of IT infrastructure has completely changed. The aforementioned advances have brought about a significant transformation in a number of industrial sectors, such as healthcare and life sciences, finance, manufacturing, retail, logistics, aviation, smart agriculture, smart infrastructure, and defence systems. The extensive use of 5G technology, in particular, has accelerated development in a wide range of businesses by making it possible to transmit data at fast speeds and expanding internet access to even the most remote locations. Because of this, the customer base has grown tremendously, requiring far bigger data loads to be handled. Organisations are depending more and more on sophisticated network switches that can process and transfer data at faster bandwidths in order to satisfy these growing demands. These switches are essential to the proper operation of vital business activities in a variety of industry sectors because they provide data transfer and communication inside intricate IT networks.

Challenge: High operational cost of network switches

Network switches, with their millisecond speed and capacity to transfer massive volumes of data without any lag, are essential for effective networking operations. Because of their outstanding performance, they are especially suitable for applications like gaming, video editing, and cryptocurrency mining that require a lot of bandwidth and little latency. On the other hand, network switches come with comparatively expensive research and development (R&D) costs, which only go up when more components like processors, memory, cabling, and connectors are added. Modern switches range in price from a few hundred dollars for basic 5-port versions to several thousand dollars for 24-48 port varieties, made by top hardware manufacturers such as Broadcom and Intel. However, the price of switches has been gradually declining due to technological developments, making them more accessible over time.

Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/network-switches-market-18720083.html

Network Switches Companies - Cisco Systems (US) and Huawei Technology (China) are the Key Players

Cisco Systems is one of the market's largest providers of Network switches and solutions. The company has a diversified set of offerings through its business segments and has a strong worldwide presence. Cisco Systems also establishes strategic partnerships with its suppliers, dealers, retailers, and other stakeholders. For instance, in 2022, the company announced Cisco Catalyst 9000 network switches portfolio, based on the powerful Unified Access Data Plane (UADP) ASIC silicon, to bring more enterprise-grade switching capabilities to the industrial edge for industries operating in harsh environments and supporting critical infrastructure like utilities, oil and gas, roadways, and rail. Partnerships, acquisitions, and collaborations have been the major strategies adopted by the company for its business growth.

Huawei Technologies is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. Huawei Technologies holds a strong portfolio of products and solutions in the Network switch market. The company’s broad range of Network switch products and solutions are used across diverse verticals such as government, financial institutions, healthcare IT, and technology providers. Huawei Technologies’ Network switch products have been adopted by more than 12,000 customers worldwide in industries including government, finance, energy, and transportation, helping customers upgrade to intelligent business systems. Besides its headquarters in China, the company has 66 offices in more than 60 countries.

News Covered:

https://www.prnewswire.com/news-releases/network-switches-market-worth-45-5-billion-by-2028---exclusive-report-by-marketsandmarkets-301745029.html

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Visit Our Website: https://www.marketsandmarkets.com