The SP routing and ethernet switching market is expected to grow at a rate of 7.2% through the forecast period. The market valuation is expected to reach US$ 21.06 Billion by 2032 from US$ 10.51 Billion in 2022.
Attributes
Details
Market Value (2022)
US$ 10.51 Billion
Market Value (2032)
US$ 21.06 Billion
CAGR
7.2%
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The factors supporting the growth of the SP routing and ethernet switching market include:
Increasing adoption of terabit networking and terabit routing and switching
Increasing amounts of digital data traffic over already-established networks
Rising bandwidth requirements
A flourishing data center industry
An increasingly popular cloud storage strategy
However, the demand for SP routing and ethernet switching is being held back by problems with installation and a lack of trained employees to rectify the defects. Inefficient communication is a direct outcome of the increased network load caused by dynamic routing.
The North American market is predicted to account for a disproportionately large share of the global market.
Demand for SP routing and ethernet switching is anticipated to be high in North America. The region also boasts a substantial presence of network routers vendors. Companies like Cisco Systems, Inc., Dell EMC, and Juniper Networks, Inc. are fueling the expansion of the market. The market for network routers, which includes ethernet service edge routers, multiservice edge routers, service provider core routers, and internet exchange routers, is expected to grow to US$ 11,950 million by 2022 in the United States, with the expectation of high market growth possibly moving towards SP routing and ethernet switching market in 2022.
However, the SP routing and ethernet switching market is being stifled by concerns about privacy and security. The survey found that 56% of routers in the US were using insecure, out-of-date firmware, which in turn restrains the global market expansion. Devices like routers can be exploited to plant a variety of viruses into handheld devices used by employees in a circumstance where many employees are currently working from home owing to a COVID-19 pandemic or access Wi-Fi networks that run at enterprise-level security. Subex has been monitoring the distribution of malware and the frequency of cyberattacks through its honeypot network, which is set up in 62 different cities.
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Technological progress is the primary factor in the expanding Ethernet switch industry.
With the advent of new technologies like big data and cloud computing, more people can use the internet for their own reasons as well as for business and industrial ones. Big data is used by IT departments in ways apart from rolling out new applications and platforms like Hadoop. New system architectures, administrative abilities, and data management tactics are becoming increasingly important in the IT industry as a result of these developments. Hadoop and other Big Data applications built for the cloud are examples of distributed programs that use many-to-many communication patterns to function across multiple servers. For these dispersed systems to function reliably, it is crucial to maintain a constant network bandwidth and latency for all traffic types. This drives up demand for Ethernet switches and helps the Ethernet switches industry expand.
SP routing and Ethernet switching are the processes that involves in the transmission of data from one point to another point inside the computer network. In the computer network while accessing the internet or another computer over the network, the data sent or received, travelled through different nodes over the transmission media.
The mechanism of transmitting information between different computer network and network segment is called switching & the intelligent device responsible to connect two system & network segment over the wired network is known as Ethernet switch.
During communication over the network there are so many paths existing between the two nodes or between source and destination, but which path is suitable for setup communication between the source and destination is decided by the intelligent device named Router and the process of selecting the suitable path among all the existing path is known as routing,
Global SP routing & Ethernet switching market: Market Dynamics
As the demand of bandwidth & high data speed is continuously increasing and also the global internet users growing up with a great speed hence, SP routing & Ethernet switching market is expected to experience drastic growth during forecast period.
The key trend responsible for the growth of global SP Routing & Ethernet switching market is that the vendors are focusing on the advanced emerging technologies as top companies are coming up with emerging terabit networking where terabit routing and switching takes place.
The key drivers which are driving the global SP routing & Ethernet switching market are; the increased digital data traffic over the existing network and the rapid increasing demand of bandwidth, rising market of data centers, increase in cloud storage adoption by different organizations are some of them.
On the flip side the key restraints which are acting as hurdles in the growth of SP routing & Ethernet switching market are; Ethernet switches & SP routers are difficult to install and use, they often need training personals if network goes down. Dynamic router causes additional traffic over the network because of which the efficiency of communication decreases.
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Global SP routing & Ethernet switching market: Segmentation
On the basis of Geography, global SP routing & Ethernet switching market is segmented into seven reasons as; North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific (excluding Japan), Japan as a separate region and Middle East & Africa. Among all the regions, APAC is having the maximum market share of global SP routing & Ethernet Switching market.
Global SP routing & Ethernet switching market: Key Players
The key players of global SP routing & Ethernet Switching market are Cisco, Juniper Networks, Inc., Alcatel-Lucent, Hewlett-Packard Development Company, L.P. & others.
The report covers exhaustive analysis on
SP routing and Ethernet switching Market Segments
SP routing and Ethernet switching Market Dynamics
Historical Actual Market Size, 2012 - 2014
SP routing and Ethernet switching Market Size & Forecast 2016 to 2026
Supply & Demand Value Chain
SP routing and Ethernet switching Market Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
SP routing and Ethernet switching Market Drivers and Restraints
Regional analysis for SP routing and Ethernet switching Market includes
North America
USA & Canada
Latin America
Brazil, Argentina & Others
Western Europe
EU5
Nordics
Benelux
Eastern Europe
Asia Pacific
Australia and New Zealand (ANZ)
Greater China
India
ASEAN
Rest of Asia Pacific
Japan
Middle East and Africa
GCC Countries
Other Middle East
North Africa
South Africa
Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global SP routing & Ethernet switching market: Segmentation
On the basis of component type, global SP routing & Ethernet switching market is segmented into ;
Routers
switches
Edge Router
Inter-provider Border Router
Core Router
modular switches
fixed configuration switches
On the basis of techniques, switching techniques is segmented as:
store and forward switching
cut-through switching
fragment-free switching & routing
NAT routing
direct routing
On the basis of service, segmentation of global SP routing & Ethernet switching market is done as
deployment service
operational management service
product support service
By the end user type, the global SP routing & Ethernet switching market is segmented into
automotive
consumer packaged goods
education
energy
financial services
government
healthcare
hospitality and life sciences.
Frequently Asked Questions
What is the Growth Outlook for the Market?
The market is likely to register a CAGR of 7.2% through 2032.
What is the Current Valuation of the Market?
The market is currently valued at US$ 10.51 Bn in 2022.
How is the Future of the Market?
The market is likely to grow to a valuation of US$ 21.06 Bn by 2032
Which is the Leading Region in the Market?
North America is likely to be a leading market during the forecast period.
