The Europe Router And Switch Market would witness market growth of 6.6% CAGR during the forecast period (2023-2029).
The main factor driving the expansion of this market is the increased need for data centers. Demand for data centers is anticipated to rise as big data analytics and cloud-based services are increasingly used in various end-user industries. It is anticipated that the rise in data centers will accelerate the usage of Ethernet switches and routers throughout the projected period.
As a result of fierce competition, suppliers are increasingly concentrating on providing the market with cost-effective and cutting-edge technology. In addition, leading vendors are developing emerging terabit networking, which enables terabit routing and switching. Massive amounts of multimedia content are being produced for the Internet and mobile apps due to the growing adoption and accessibility of high-speed, low-cost wireless broadband services, like hotspots and public wi-fi, as well as the increasing prevalence of tablets, laptops, and smartphone users.
Due to this, content providers have been growing their data centers. The boundaries are pushed from 10 Gbps to 100 Gbps and even higher by video-on-demand services, which also need switches with larger capacities. Given the enormous volume of data that networked servers and storage units handle, Ethernet switches are particularly dominant in the data center switch industry. A large acceptance of data center switch to manage and route the data traffic is projected to follow, raising spending on data centers or cloud infrastructure.
In 2021, 41% of European firms utilized cloud computing services, primarily for email hosting and cloud file storage, according to recent research by Eurostat, the statistics agency of the European Union. In addition, 73% of these businesses used cutting-edge cloud services for enterprise database hosting, application security, software creation, testing, and debugging. By implementing cloud infrastructure, companies can benefit from cutting-edge technology with scalability, security, and high performance. In addition, they gain more operational flexibility by transforming investment expenditure into operating costs and avoiding the need to lock up resources. These factors are predicted to further support the regional market growth as the adoption of smart appliances would also increase with the cloud.
The Germany market dominated the Europe Router And Switch Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $4,924.5 million by 2029. The UK market is estimated to grow a CAGR of 5.7% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 7.4% during (2023 - 2029).
Free Valuable Insights: The Worldwide Router And Switch Market is Projected to reach USD 75.1 Billion by 2029, at a CAGR of 7.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Fortinet, Inc., Ribbon Communications, Inc., Extreme Networks, Inc., Dell Technologies, Inc., ADTRAN, Inc., Actelis Networks, Inc. and ALE International S.A.S.
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