Global Routing market scope 2024, Forecast To 2033

The routing market has witnessed robust growth, escalating from $20.33 billion in 2023 to $21.84 billion in 2024, indicating a compound annual growth rate (CAGR) of 7.4%. This growth in the historic period is attributed to the expansion of the internet and data traffic, the growth of telecommunication networks, the rise of e-commerce and online services, the increasing prevalence of cloud computing and data centers, as well as the advancements in mobile and wireless communications. Looking ahead to 2028, the market is set for substantial growth, reaching $31.46 billion at a CAGR of 9.6%. Key drivers in the forecast period include the deployment of 5G networks, the integration of edge computing and IoT connectivity, the adoption of software-defined wide area network (SD-WAN), emphasis on cybersecurity and threat protection, the rise of remote work and digital transformation, and the proliferation of multi-cloud and hybrid cloud environments. Major trends anticipated in the forecast period encompass the implementation of network slicing and quality of service (QoS) routing, the adoption of zero-trust network access (ZTNA) for secure routing, the emergence of AI-driven self-healing networks, the utilization of quantum-safe routing protocols, the introduction of routing as a service (RaaS) models, and the emphasis on mesh networking and peer-to-peer routing.