Overview and Scope
Routing refer to wired or wireless network services performed by network layer devices. The routing process refers to the selection of a path for traffic in a network or across multiple networks. The routing is applied to networks such as circuit-switched networks, public switched telephone networks (PSTN), computer networks, internet, IP address, and others. The routing algorithm, metric and costs initialize and maintain the routing table for the process of path determination.
Sizing and Forecast
The routing market size has grown strongly in recent years. It will grow from $20.33 billion in 2023 to $21.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to growth of the internet and data traffic, expansion of telecommunication networks, e-commerce and online services, cloud computing and data centers, mobile and wireless communications.
The routing market size is expected to see strong growth in the next few years. It will grow to $31.46 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to 5g network deployments, edge computing and iot connectivity, sd-wan (software-defined wide area network) adoption, cybersecurity and threat protection, remote work and digital transformation, multi-cloud and hybrid cloud environments. Major trends in the forecast period include network slicing and qos (quality of service) routing, zero-trust network access (ztna) for secure routing, ai-driven self-healing networks, quantum-safe routing protocols, routing as a service(raas) models, mesh networking and peer-to-peer routing.
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Segmentation & Regional Insights
The routing market covered in this report is segmented –
1) By Type: Wired, Wireless
2) By Placement: Edge, Core, Virtual
3) By Application: Datacenter, Enterprise
4) By Vertical: BFSI, Healthcare, Education, Residential, Media & Entertainment
Asia-Pacific was the largest region in the routing market in 2023. The regions covered in the routing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing demand for internet-based devices is significantly driving the growth of the routing market. Internet-based devices are hardware devices, which run over the IoT, AI, and ML ecosystem that includes processors, sensors, routing devices, communication hardware & software, and other tools to collect and send data that connect wirelessly to a network and have the ability to transmit data. Routing of data from source to sink is an integral part of large-scale internet-based devices and wireless solutions. For instance, according to the study published in DataProt, the number of IoT or connected devices across the globe is expected to reach 25.4 billion devices by 2025. Therefore, increasing demand for internet and internet-based devices is driving the growth of the routing market.
Key Industry Players
Major companies operating in the routing market include Cisco Systems Inc., Huawei Technologies Co. Ltd., Juniper Networks Inc., Hewlett Packard Enterprise Development LP, Arista Networks Inc., ASUSTeK Computer Inc., New H3C Technologies Co. Ltd., NETGEAR Inc., Nokia Corporation, Xiaomi Corporation, Acelink Technology Co. Ltd., ADTRAN Inc., Allied Telesis Inc., Belkin International Inc., D-Link Corporation, EERO LLC, EKINOPS S.A., Extreme Networks Inc., Fortinet Inc., Fujitsu Limited, Hitachi Ltd., NEC Corporation, Palo Alto Networks Inc., Riverbed Technology Inc., TP-Link Technologies Co. Ltd., ZTE Corporation, Alcatel-Lucent Enterprise USA Inc., Brocade Communications Systems Inc., Check Point Software Technologies Ltd., Dell Technologies Inc.
The routing market report table of contents includes:
1. Executive Summary
2. Routing Market Characteristics
3. Routing Market Trends And Strategies
4. Routing Market – Macro Economic Scenario
5. Global Routing Market Size and Growth
…..
31. Global Routing Market Competitive Benchmarking
32. Global Routing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Routing Market
34. Routing Market Future Outlook and Potential Analysis
35. Appendix
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