CHICAGO, Aug. 8, 2024
/PRNewswire/ -- The Data Center Networking Market is
expected to grow from USD 37.6
billion in 2024 to USD 64.2
billion by 2029 at a Compound Annual Growth Rate (CAGR) of
11.3% during the forecast period, according to a new report by
MarketsandMarkets™. This will increase the growth of the Data
Center Networking Market during the
forecast period through the rise in digitalization and automation
of businesses.
Browse in-depth TOC on "Data Center Networking Market"
277 – Tables
55 - Figures
255 – Pages
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Scope of the Report
Report
Metrics
|
Details
|
Market Size Available
For Years
|
2019–2029
|
Base Year
Considered
|
2023
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Billion)
|
Segments
Covered
|
Offering (hardware,
software, services) (hardware – network switches & routers,
software – network management & monitoring software,
software-defined networking, network function virtualization, other
software, services – design & consulting, integration &
deployment, support, and maintenance) end user (enterprises, cloud
service provides, telecom service providers) and region
|
Regions
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, and Latin
America
|
Companies
Covered
|
NVIDIA (US), Arista
Networks (US), Dell (US), Cisco (US), Huawei (China), Broadcom
(US), HPE (US), Nokia (Finland), Intel (US) ZTE (China), Extreme
Networks (US), Edgecore Networks (Taiwan), Lenovo (China),
Juniper Networks (US), F5 (US), A10 (US), Alcatel-Lucent
Enterprise (France), NETGEAR (US), 6WIND (France), H3C
(China), Kaloom Networks (Canada), Pica8 (US), Arrcus (US), Larch
Networks (Israel), ZPE Systems (US), Nuage Networks (US), and
Netris (US).
|
By end users, enterprises hold the largest market share
during the forecast period.
Enterprises are much more focused on innovative technologies in
networking to address increasing data volume and seek much more
availability and reliability for IT operations. These technologies
are also helpful for data analysis, cloud computing solutions, and
IT systems management that, in turn, ensure a competitive advantage
and innovation. Furthermore, the recent developments in data center
networking technologies, such as artificial intelligence (AI) and
machine learning (ML), have made it easier for companies to be more
efficient in session and network planning, as well as threat
detection, root cause analysis, and resource forecasting.
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As a result, businesses continue to invest in software-defined
networking and network function virtualization to bring more
network flexibility and reduce operational expenditure. Therefore,
huge investment and strategic attention toward technological
innovation by the enterprise segment drive the growth of the Data
Center Networking Market.
Enterprises began rapid adoption of various innovations in SDN,
network virtualization, and automation to drive efficiencies in the
management of network infrastructure and to bring more agility in
support of dynamic business environments
By offering, the software will grow at the highest CAGR
during the forecast period.
Data center networking software comprises several solutions to
manage and develop intricate hosting environments in data centers.
These solutions ensure efficient management, supervision, and
optimization of networks, which are critical for ensuring high
productivity and dependability in data centers. The growing demand
for network virtualization will accelerate the development of this
software because virtualization technology gives enough resources
for network changes of diverse nature by reducing reliance on
physical hardware and simplifying costs and complexity.
Furthermore, the escalation in demand for next-generation network
supply because of the ubiquitous IoT devices, cloud computing, and
extensive data analysis falls on powerful software to manage
network resources quickly. Furthermore, the integration of
artificial intelligence (AI) and machine learning (ML) technologies
into data center networking software enhances the market's growth
by enabling early prediction of network issues, automation of
repetitive tasks, and overall network optimization, thus improving
organizational competency and ensuring secure, continuous network
functionality.
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By Region, Europe will hold
the second-largest market share in 2024.
Europe is experiencing
fast-growing networking technologies like high-speed, low-latency
networks and new data center architectures. These are essential for
creating newer innovations such as artificial intelligence (AI),
machine learning, and big data, for which there is always a high
demand for computational power and data storage. The governments in
Europe are proactively introducing
favorable measures and actions to strengthen the digital
environment and technological advancement. The European market is
also characterized by the increasing importance of data sovereignty
and privacy regulations, which puts pressure on using local data
centers that meet the high requirements of the legislation. Thus,
enterprises and service providers are becoming more intelligent and
implementing sophisticated regional data center facilities to meet
compliance and performance standards.
In 2024, there will be improved progress in European submarine
cable projects. The EU is willing to fund "cable projects of
European interest" to improve the Internet networks and the
security of these networks. The submarine cable projects in
Europe set for 2024 will be very
useful in making data center networking more connected, secure, and
resilient.
Top Key Companies in Data Center Networking Market:
Some of the key players operating in the Data Center Networking
are – NVIDIA (US), Arista Networks (US), Dell (US), Cisco
(US), Huawei (China), Broadcom (US),
HPE (US), Nokia (Finland), Intel
(US), ZTE (China), Extreme Networks (US), Edgecore Networks
(Taiwan), Lenovo (China),
Juniper Networks (US), F5 (US), A10 (US), Alcatel-Lucent Enterprise
(France), NETGEAR (US), 6WIND
(France), H3C (China), Kaloom
Networks (Canada), Pica8 (US),
Arrcus (US), Larch Networks (Israel), ZPE Systems (US), Nuage Networks
(US), and Netris (US).
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