Data Center Networking Market worth $64.2 billion by 2029- Exclusive Report by MarketsandMarkets(TM)
Friday, August 16, 2024
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(TM). This will increase the growth of the Data Center Networking Market during the forecast period through the rise in digitalization and automation of businesses.
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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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