What is the global market size of Router And Switch Market?

Global Router And Switch Market size was valued at USD 15.8 billion in 2021 and is poised to grow from USD 16.93 billion in 2022 to USD 23.2 billion by 2030, growing at a CAGR of 7.1% in the forecast period (2023-2030).

Global Router And Switch Market Size, Share, Growth Analysis, By Product(Internet Exchange Router, Service Provider Core Router), By Services(Broadb, Aggregation (BRAS)) - Industry Forecast 2024-2031

Report ID: SQSG45J2020 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 69 | Figures: 75

Global Router And Switch Market Regional Insights

Due to the expanding trend of working from home, North America is anticipated to rank among the top regions in the global market for routers and switches over the forecast period. The market for routers and switches is anticipated to be driven by advanced broadband infrastructure and the requirement for a robust network mechanism to sustain convenient workflow.

In the next two years, 20 to 30% of the US workforce is anticipated to spend more than a week working from home, according to Global Workplace Analytics. Thus, it is anticipated that this factor will have a substantial effect on the expansion of the router and switch market in North America. In addition, modernised broadband infrastructure and the requirement for a dependable network system to support a variety of devices are anticipated to aid the market growth.

Also, due to the rising demand from both small and large businesses, Asia Pacific is another important market for routers and switches. The forecast period is expected to see the region develop at a sizable CAGR.

The growing desire for on-demand viewing on a global scale, as well as the increased use of tablets, laptops, and smartphones, are driving the industry in the region. However, it is anticipated that the market growth for routers and switches in the upcoming years would be constrained by weakness in the public sector vertical along with the sluggish market in several regions of Europe due to the possibility of substitution from lower-end devices.

Global Router And Switch Market Report Snapshots

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Global Router And Switch Market size was valued at USD 15.8 billion in 2019 and is poised to grow from USD 16.93 billion in 2023 to USD 23.2 billion by 2031, growing at a CAGR of 7.1% in the forecast period (2024-2031).

A large variety of well-established and newly-emerging businesses that concentrate on new product innovations make up the router and switch industry. Major businesses like Cisco, Huawei, Ericsson, and Alcatel-Lucent dominate the market and are actively investing in R&D operations to promote product innovation and stay one step ahead of their rivals. With the increasing demand in the worldwide industry, market participants in the router and switch market may expect to have attractive growth prospects in the future. 'Cisco Systems', 'Huawei Technologies', 'Juniper Networks', 'Nokia Networks', 'Hewlett Packard Enterprise', 'Dell Technologies', 'Extreme Networks', 'Ericsson', 'Arista Networks', 'Brocade Communications Systems', 'Netgear', 'ZTE Corporation', 'TP-Link Technologies', 'D-Link Corporation', 'Allied Telesis', 'Fortinet', 'Palo Alto Networks', 'Check Point Software Technologies', 'F5 Networks', 'Riverbed Technology'

During the period of projection, the worldwide router and switch market is anticipated to expand. Some of the key reasons driving the growth of this market are the requirement for cutting-edge networking solutions and the rising demand for high-speed internet. The expansion of this market is also being fueled by an increase in businesses and the implementation of Bring Your Own Device (BYOD) regulations.

Focusing on the networks that link the data centers is one trend among the providers. Inter-data center networks are being transformed to meet new services and network requirements for low latency, virtualization, security, automation, and bandwidth scalability.

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Global Router And Switch Market Size, Share, Growth Analysis, By Product(Internet Exchange Router, Service Provider Core Router), By Services(Broadb, Aggregation (BRAS)) - Industry Forecast 2024-2031

Global Router And Switch Market Regional Insights

Global Router And Switch Market Report Snapshots

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