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).

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

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

Router And Switch Market Insights

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).

Both switches and routers are used to connect networks. While switches connect different devices in a network, routers operate at the network layer and are tasked with determining the quickest path for packets. A switch is a device that gives local area network devices connections points (LAN). On a single network, several devices are connected using switches. Switches can be utilised to build more complex networks. Compared to routers, switches are typically employed in larger networks.

A router is linked to at least two networks, typically two LANs, WANs, or LANs as well as the network of the ISP. Multiple home and small office networks are linked to the Internet using routers. Routers are used by big enterprises, schools, and other organisations to connect their local area networks.

US Router And Switch Market is poised to grow at a sustainable CAGR for the next forecast year.

Router And Switch Market Report Snapshots

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

Router And Switch Market Insights

Router And Switch Market Report Snapshots

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