Global Data Centre Networking Market Expected to Reach $61.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Data Centre Networking Market," The global data centre networking market was valued at $19.75 billion in 2021, and is estimated to reach $61.2 billion by 2031, growing at a CAGR of 12.2% from 2022 to 2031.

The Data Centre Networking is efficiently operating of variety of infrastructures through different networking resources used all together. It plays a crucial role in storage and processing of data through assistance of various networking resources. Data centre networking is capable of operating data delivery with high bandwidth via switches, servers and storage endpoints. It enables connecting many networks together and making cloud computing feasible. The major driving factor of the market accounts to the rising demand of high speed data connection and increasing need of cloud storage. Moreover, in recent years there has been a huge increment in investments made in Data Centre Networking Industry globally. This further contributes to the Data Centre Networking Market Growth.

On the basis of component, the solution segment dominated the Data Centre Networking Market Share in 2021 and is expected to maintain its dominance in the upcoming years, due to increase in adoption of data center networking solutions driven by several advantages offered by data center networking such as energy efficiency. However, the services segment is expected to witness highest growth during the Data Centre Networking Market Forecast period, owing to extensive adoption of deployment and integration services among end users, as it ensures effective functioning of data centre networking solution throughout the process.              

Depending on end-user, IT and telecom segment is dominating the Data Centre Networking Market Size and is expected to do so in the forecast period as, data center networking have become a more strategic asset for IT companies as well as telecom operators. However, Healthcare segment is anticipated to have the highest growth in the forecast period due to data center networking is finding increasing applications to serve hospitals, biotech, pharmaceutical, and other healthcare organizations.

Depending on the region, North America dominated the Data Centre Networking Market Analysis in 2021, as a result of the enormously high demand from businesses for on-demand services, real-time user contact, and effective storage management. However, Asia-Pacific is expected to exhibit highest growth during the forecast period, owing to the growing importance of smart technologies, IoT-powered devices, Big Data, Industry 4.0, 5G, and cloud computing in this region.                      

The data centre networking market was valued at $21.78 billion in 2022, and is projected to reach $61.15 billion by 2031, registering a CAGR of 12.2%. The current estimation of 2031 is projected to be higher than pre-COVID-19 estimates. COVID19 outbreak has significantly impacted the data center networking market. It led to complete shutdown of manufacturing and production across the globe. The global economy was also severely impacted by this pandemic, which further generated hurdles for many industries and businesses globally. Furthermore, this pandemic has elevated the data traffic. The growth of emerging technologies; for instance Internet of Things (IoT), big data and artificial intelligence has resulted to an upsurge in requirement of storage volume.  However, this upsurge has driven the investments in Data Centre Networking Industry globally. 

KEY FINDINGS OF THE STUDY

• By component, the solution segment dominated the data centre networking market in 2021. However, the services segment is expected to exhibit significant growth during the forecast period.
• On the basis of end-user, the IT & telecom segment dominated the data centre networking market in 2021.However, the healthcare segment is expected to witness the highest growth rate during the forecast period.
• Region-wise, the data centre networking market was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.

This report gives an in-depth profile of some key market players in the data centre networking market include Alcatel-Lucent Enterprise, Broadcom, Cisco, Dell Technology, Huawei Technologies, IBM, Intel, Juniper Network, Lenovo and Microsoft Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, along with Data Centre Networking Market Trends which propel growth of the data centre networking market globally.