What Has Been The Evolution of the Routing Market in Recent Years?
The routing market has seen considerable growth due to a variety of factors.
• There has been a significant increase in the size of the routing market recently. Projections indicate that it will rise from $21.34 billion in 2024 to $22.68 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.3%.
This upward trajectory during the historic period is associated with the proliferation of internet usage and data traffic, the extended outreach of telecommunication networks, the expansion of e-commerce and online services, as well as advancements in cloud computing, data centres, mobile networks and wireless communications.
What Is the Forecasted Market Size and Growth Rate for The Routing Market?
The routing market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the routing market is projected to undergo a swift expansion in the coming years. It is set to reach $35.8 billion by 2029, with a compound annual growth rate (CAGR) of 12.1%.
This growth during the forecast period is likely due to factors such as the deployment of 5g networks, edge computing, iot connectivity, the adoption of sd-wan (software-defined wide area network), cybersecurity measures, threat protection, remote work, digital transformation, and a combination of multi-cloud and hybrid cloud environments. The period is also expected to witness major trends such as network slicing, quality of service (qos) routing, zero trust network access (ztna) for secure routing, AI-powered self-healing networks, quantum-safe routing protocols, routing as a service (raas) models, mesh networking, and peer-to-peer routing.
What Factors Are Driving Growth In The Routing Market?
The surge in the need for internet-oriented appliances is notably propelling the expansion of the routing market. Devices hinged on the internet are hardware implements operating within the network of IoT, AI, and ML ecosystem. This includes components such as processors, sensors, pathways for data transfer, communication hard and software, among other tools crucial for data collection and dispatch. These components can connect in a wireless manner to a network as well as have the ability to transfer data. The journey of data from its origin to its destination is essential in the operation of expansive internet-oriented devices and wireless resolutions. For instance, a study reported in DataProt expects the global count for IoT or connected devices to hit 25.4 billion by 2025. Consequently, the heightened need for internet services and devices linked to the internet spurs the expansion of the routing market.
What Are The Main Segments Of The Global Routing Market?
The routing market covered in this report is segmented –
1) By Type: Wired, Wireless
2) By Placement: Edge, Core, Virtual
3) By Application: Datacenter, Enterprise
4) By Vertical: BFSI, Healthcare, Education, Residential, Media & Entertainment
Subsegments:
1) By Wired: Ethernet Routers, Fiber-Optic Routers
2) By Wireless: Wi-Fi 5 Routers, Wi-Fi 6 Routers, Wi-Fi 6E Routers, Wi-Fi 7 Routers
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What Emerging Trends Are Influencing The Growth Of The Routing Market?
Technological progress in the field of routing is a primary trend gaining traction within the routing market. Major players in this market are concentrating on offering technologically-superior solutions to satisfy their clientele requirements and consolidate their market standing. They are incorporating state-of-the-art routing technologies and models into their services, for instance, load carrying and delivery routing, data-oriented routing, optimized link-state routing, dynamic source routing, among others. For instance, in April 2023, Arista Networks, an American firm specialized in computer networking solutions and services, enhanced its routing portfolio to accommodate edge case applications such as multi-cloud, 5G radio access networks, among other uses.
Who Are the Key Players in the Routing Market?
Major companies operating in the routing market include:
• Cisco Systems Inc.
• Huawei Technologies Co. Ltd.
• Juniper Networks Inc.
• Hewlett Packard Enterprise Development LP
• Arista Networks Inc.
• ASUSTeK Computer Inc.
• New H3C Technologies Co. Ltd.
• NETGEAR Inc.
• Nokia Corporation
• Xiaomi Corporation
• Acelink Technology Co. Ltd.
• ADTRAN Inc.
• Allied Telesis Inc.
• Belkin International Inc.
• D-Link Corporation
• EERO LLC
• EKINOPS S.A.
• Extreme Networks Inc.
• Fortinet Inc.
• Fujitsu Limited
• Hitachi Ltd.
• NEC Corporation
• Palo Alto Networks Inc.
• Riverbed Technology Inc.
• TP-Link Technologies Co. Ltd.
• ZTE Corporation
• Alcatel-Lucent Enterprise USA Inc.
• Brocade Communications Systems Inc.
• Check Point Software Technologies Ltd.
• Dell Technologies Inc.
What Is The Most Dominant Region In The Routing Market?
Asia-Pacific was the largest region in the routing market in 2024. The regions covered in the routing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
