Industry Sees Promising Growth by 2031 | The Data Centre Networking Market Share Reach USD 61.2 Billion

Rising demand of high speed data connection and increasing need of cloud storage driving the market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, July 23, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, Industry Sees Promising Growth by 2031 | The Data Centre Networking Market Share Reach USD 61.2 Billion. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

The global data center networking market was valued at USD 19.8 billion in 2021, and is projected to reach USD 61.2 billion by 2031, growing at a CAGR of 12.2% from 2022 to 2031.

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The increasing demand for high speed internet and high growth of mega data centers & colocation is expected to influence the growth of Data Centre Networking Industry. The high adoption of 100 GB switch ports and the rapid development of broadband and internet infrastructure are also expected to positively impact the growth of the market. Moreover, rise in construction of new data centers and replacement of existing technologies and the decline in costs of semiconductor components are also expected to create a huge demand for data center networking as well as lifting the growth of the data center networking market.

The global data center networking market is segmented into Component and End User. By component, it is bifurcated into solution and services. By end-user, it is segregated into IT and telecom, retail, BFSI, public sector and utilities, energy, manufacturing, healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on component, the solution segment held the largest share in 2021, accounting for nearly three-fourths of the global data center networking market and would maintain its dominance in terms of revenue through 2031. However, the services segment is estimated to witness the fastest CAGR of 13.4% during the forecast period.

Based on end user, the IT and telecom segment held the largest share in 2021, capturing more than one-fourth of the global data center networking market, and would lead the trail through 2031. The healthcare segment, on the other hand, is estimated to witness the fastest CAGR of 15.7% during the forecast period. The report also discusses retail, BFSI, public sector and utilities, energy, manufacturing and others segments.

Based on region, the market in North America was the largest in 2021, accounting for more than two-fifths of the global data center networking market share and is likely to maintain its leadership status during the forecast period. However, the market in Asia-Pacific is expected to manifest the highest CAGR of 14.7% from 2022 to 2031. The other regions analyzed in the study include LAMEA and Europe.

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.

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COVID-19 Scenario:

● The COVID-19 pandemic outbreak had a significant impact on the growth of the data center networking market. It led to a 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.

● On the other hand, the data traffic increased significantly during the pandemic. The growth of technologies such as the Internet of Things (IoT), big data and artificial intelligence (AI) resulted in an upsurge in need for storage volume. This upsurge has driven the investments in data center networking globally, thereby contributing to the market growth.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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