On account of the
rising number of drilling and exploration activities worldwide, the
global data center networking market witness the prevalence of high
competition. Cisco Systems Inc., Hewlett Packard Enterprise, Arista
Networks, Juniper Networks, and Brocade Communication Systems Inc.,
currently exhibit a strong foothold in the global data center
networking market, finds Transparency Market Research (TMR) in a new
study. Besides providing comprehensive solutions, the leading market
players are eyeing discovery of more lucrative pockets across
emerging nations.
To strengthen their
position, these players offer myriad solutions to their customers.
Besides this, innovating novel technologies is a popular trend among
the market players. In addition, mergers and acquisitions have become
a common practice among companies looking to expand their geographic
footprint and product portfolio.
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According to TMR,
the global data center networking market, which stood at US$63.05 bn
in 2016, is expected to reach US$228.40 bn by the end of 2025. If the
figures hold true, the global market will expand at an impressive
15.5% CAGR between 2017 and 2025. By component, the global data
center networking market was led by the hardware segment with an
estimated revenue share of 52% in 2016. However, during the forecast
period, the software segment is expected to show growth at a higher
pace.
Regionally, North
America dominated the global data center networking market in 2016.
However, exhibiting a CAGR of 17.3% between 2017 and 2025, Asia
Pacific is expected to emerge as a more lucrative region than other
segments in the global data center networking market.
Benefiting from
Rising Uptake of Cloud Computing, Market to Exhibit Strong Growth
The positive run
witnessed by the data center networking market is largely ascribable
to the increasing uptake cloud computing and data center
virtualization. With organizations worldwide starting to realize the
benefits of real-time interaction, the demand for cloud computing and
data center virtualization is forecast to surge. Considering this,
TMR forecasts strong growth for the overall data center networking
market. Besides this, the market is expected to gain from the
increasing awareness regarding the efficient use of storage devices
and the rising demand for controlling data center networks.
“Improvements in
service delivery and risk management will yield gains for the market
in the coming years,” said a lead TMR analyst. To pace up with the
present dynamic business landscape, companies are not shying from
altering their service delivery models. Their primary focus is on
aligning services to meet needs of both internal and external
business environment. As data centers help businesses achieve a more
dynamic and flexible infrastructure, their demand is forecast to
surge in the coming years.
Besides this, the
cost reduction in cloud data storage will aid in the market’s
expansion as well. Spurred by the aforementioned factors, the global
data center networking market will exhibit positive trajectory during
the forecast period.
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Uncertainty of
Data Protection Laws to Inhibit Growth
On the downside, the
market is reeling under the uncertainty of data protection laws. It
is important for cloud service providers to consider rules of
locations they operate in as well as jurisdiction of the location
where they provide services. This creates a major restraint for the
market, nevertheless, the rising demand from oil and gas and telecom
industries is likely to aid its growth in the coming years. The
market will also gain impetus from the increasing deployment of IoT
tools and technologies across industries such as water utilities, oil
& gas, and power stations.
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Transparency Market
Research (TMR) is a global market intelligence company providing
business information reports and services. The company’s exclusive
blend of quantitative forecasting and trend analysis provides
forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use
proprietary data sources and various tools and techniques to gather
and analyze information.
TMR’s data
repository is continuously updated and revised by a team of research
experts so that it always reflects the latest trends and information.
With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research
techniques to develop distinctive data sets and research material for
business reports.
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