Global Router And Switch Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

A router refers to a networking tool that connects various switches and the networks that go with them to create a huge network, and a switch refers to a networking device that connects various network devices. Switches are used to share information and resources within a small business network, and the router is used to distribute or route the internet connection from the modem to all the networking devices.

Sizing and Forecast

The router and switch market size has grown strongly in recent years. It will grow from $11.36 billion in 2023 to $12.15 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rapid growth of internet usage, expanding data centers, telecommunication network expansio, mobile network evolution, cybersecurity concerns..

The router and switch market size is expected to see strong growth in the next few years. It will grow to $16.24 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to smart city initiatives, digital transformation initiatives, network virtualization, e-commerce boom, remote learning, environmental sustainability.. Major trends in the forecast period include 5g network rollout, edge computing expansion, transition to wi-fi 6 (802.11ax), software-defined networking (sdn), cybersecurity integration, cloud connectivity and hybrid cloud networks..

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Segmentation & Regional Insights

The router and switch market covered in this report is segmented –

1) By Product: Internet Exchange Router, Multiservice Edge Router, Ethernet Service Edge Router, Service Provider Core Routers, ATM Switch, Other Products
2) By Service: Ethernet Aggregation, Internet Data Center/Collocation/Hosting, Ethernet Access, Broadband Remote Access Server (BRAS)
3) By Application: Residential, Commercial

North America was the largest region in the router and switch market in 2023. The regions covered in the router and switch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

Growing dependence on cloud-based solutions is expected to boost the growth of the router and switch market going forward. A cloud-based solution uses the Internet to deliver computing resources as needed. Cloud routers make it possible for cloud service providers to connect in a private, fast, and secure manner, hence, growing dependence on cloud-based solutions is expected to boost the router and switch market. For instance, according to a report published by O’Reilly Media, Inc., a UK-based provider of technology and business knowledge, in 2021, 90% of respondents worldwide claimed that their businesses use the cloud. At least 75% of those surveyed work for companies that use the cloud across all industries. A public cloud is used by 67% of respondents, whereas a private cloud is used by 45%. Therefore, growing dependence on cloud-based solutions is driving the growth of the router and switch market.

Key Industry Players

Major companies operating in the router and switch market are focused on introducing next-generation solutions, such as powered router and switch modules, to gain a competitive edge in the market. Powered router and switch modules are hardware components designed to enhance the capabilities and expanding the range of services. For instance, in October 2022, Cubic Corporation, a US-based defense company, launched M3-SE5, a new Cisco-powered router and switch module. The M3-SE5 provides high-speed networking capabilities to the tactical edge by utilizing the ESR6300 router and ESS3300 switching technology. With the Cisco ESR6300 and ESS3300 high-speed networking capabilities, users can also enhance their current M3-SE baseband computing and network stacks with the M3-SE5 without having to increase the form factor of an existing M3-SE solution. It has a smaller electromagnetic footprint than conventional networking devices, can withstand shocks and vibrations, and functions in a broad variety of thermal environments. Ideal flexibility is provided by this innovative technique, which also optimizes the user’s system investment.

The router and switch market report table of contents includes:

1. Executive Summary

2. Router And Switch Market Characteristics

3. Router And Switch Market Trends And Strategies

4. Router And Switch Market – Macro Economic Scenario

5. Global Router And Switch Market Size and Growth

….

31. Global Router And Switch Market Competitive Benchmarking

32. Global Router And Switch Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Router And Switch Market

34. Router And Switch Market Future Outlook and Potential Analysis

 

35. Appendix

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