New Report Shows the Data Center Market Growing to Reach $49.41 Billion by 2029

According to a new report, the total global market size for the “Data Center Networking Market” was valued at USD 21.80 billion in 2022 and is expected to grow at a CAGR of 12.4% over the forecast period to reach USD 49.41 billion by 2029.

Maximize Market Research, an international business and consultancy firm has recently published a research report on the “Data Center Networking Market.”

The growing demand for high-speed internet and the high growth of mega data centers are expected to drive the growth of the Data Center Networking market.

The high adoption of 100 GB switch ports and the rapid development of broadband and internet infrastructure is also expected to show a positive impact on the growth of the market.

The increasing construction of new data centers and the replacement of existing technologies across the world. The reduced cost of semiconductor components is expected to drive the market demand.

According to the report, in 2022, North America held the largest Data Center Networking Market and is expected to maintain its position over the forecast period. The countries in the area are well economically developed.

The regional growth is driven by the increasing adoption of cloud computing technology, digitalization, acceptance of virtualization and various storage system services. Increasing cyber-attacks in the IT sectors and technological sectors are the main influencing key factors in the market growth.

Data center networking is the integration of a constellation of networking resources switching, routing, load balancing, analytics, etc. to facilitate the storage and processing of applications and data.

These workloads require diverse hardware or high-end network components to compute, store, retrieve, and transfer data from the workloads across local and wide area networks.

For more information about this report, go here.