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 Dynamics

Router and Switch Market Driver

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.
The need for data centres is anticipated to rise due to the expanding use of big data analytics and cloud-based services across a range of end-user segments. During the forecast period, it is anticipated that the rise in data centres would accelerate the usage of switches and routers.

Router and Switch Market Restraint

In the upcoming years, growth of the global routers and switches market is anticipated to be restrained by softness in the public sector vertical, in addition to the weaker market in several regions of Europe due to the danger of competition 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.

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.

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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 Dynamics

Global Router And Switch Market Report Snapshots

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