Data Center Switch Market to Reach $24.6 Billion, Globally, by 2031 at 5.9% CAGR: Allied Market Research
A rise in the adoption of IoT & cloud computing and increase in demand for switch data center security, particularly in developing regions drive the growth of the global data center switch market.
PORTLAND, Ore., Oct. 13, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Data Center Switch Market by End User (Retail, BFSI, IT and Telecom, Government and Defense, Manufacturing, Media and Entertainment, Others), by Product Type (Ethernet, InfiniBand, Others), by Port Speed (10G, 25G, 40G, 100G, 400G, Others), by Switch Type (Core, ToR Switch, Others): Global Opportunity Analysis and Industry Forecast, 2021- 2031". According to the report, the global data center switch industry generated $13.8 billion in 2021, and is anticipated to generate $24.6 billion by 2031, witnessing a CAGR of 5.9% from 2022 to 2031.
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Prime Determinants of Growth
A rise in the adoption of IoT & cloud computing and increase in demand for switch data center security, particularly in developing regions drive the growth of the global data center switch market. However, high operational cost of data centers hinders the market growth. Conversely, increase in smart computing devices presents new opportunities for the market in the coming years.
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The Ethernet segment to maintain its leadership status throughout the forecast period
Based on product type, the ethernet segment held the highest market share in 2021, accounting for more than two-thirds of the global data center switch market, and is estimated to maintain its leadership status throughout the forecast period. Companies are launching ethernet layer 2 and layer 3 switches designed for enterprise, branch offices, and small- to medium-size businesses that offer flexibility and easy-to-manage solutions, which drives the segment. However, the infiniband segment is projected to manifest the highest CAGR of 7.6% from 2022 to 2031. This is attributed to the fact that these switches also provide high performance computing to data centers at competitive pricing with maximized results.
The 100G segment to maintain its lead position during the forecast period
Based on port speed, the 100G segment accounted for the largest share in 2021, contributing to nearly one-third of the global data center switch market, nd is projected to maintain its lead position during the forecast period. 100G data center switches offer high performance environment that combines scalable L2 & L3 resources and high density with extensive automation and programmatic capabilities. The report also analyses segments including 10G, 25G, 40G, and 400G.
The ToR Switch segment to maintain its lead position during the forecast period
Based on switch type, the ToR Switch segment accounted for the largest share in 2021, contributing to nearly half of the global data center switch market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 6.7% from 2022 to 2031. Rise in demand for Top of Rack switches is expected to help boost the growth of the market. For instance, in June 2022, FS.COM Inc., launched N8560-32C, 32-Port Ethernet L3 Data Center Switch, which supports 32 x 100Gb QSFP28. It is suitable for medium data centers and large enterprise networks.
North America to maintain its dominance by 2031
Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global data center switch market, and is likely to dominate the market during the forecast period. Increase adoption of cloud computing and internet service are driving the demand for data center in North America. Moreover, the Europe region is expected to witness the fastest CAGR of 7.3% from 2022 to 2031. This is attributed to the rise in several government initiatives in the region.
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