The
global Data Center Networking Market size is
expected to grow from USD 37.6 billion in 2024 to USD 64.2 billion by 2029, at
a Compound Annual Growth Rate 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.
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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.
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.
Key Players
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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