The global switching equipment market size is expected to grow from $38.58 billion in 2021 to $42.37 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The switching equipment market is expected to reach $59.50 billion in 2026 at a CAGR of 8.9%.
What is the Global Switching Equipment Market?
The switching equipment market consists of sales of switching equipment and related services. Switching equipment refers to a device that opens and closes electric circuits in general. These are used to build connections between nodes within a network. Information is shared on establishing of a connection between nodes. The switching equipment industry includes establishments that manufacture switching equipment including circuit breakers, contactors, switch disconnectors and disconnectors.
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What drives the Global Switching Equipment Market?
The increase in the popularity of IoT devices among the populace will led to a rise in the switching equipment market. IoT is becoming popular as a greater number of people are using smart devices and are mostly working on their errands, office work, communication, sending/receiving messages using smart devices thus overwriting the traditional way. For instance, in 2021, Socomec, a Low Voltage (LV) Industrial Power Switching specialist based in France, has announced the release of New SIRCOVER with enhanced features in Manual Transfer Switches. All of these critical features are highlighted in the New SIRCOVER, which includes an Increased Terminal Clearance, with Enhanced Termination Capacity through Integrated Spreaders, that enables secure Aluminium termination, as well as Interphase barriers for added operations safety and an ergonomic Retrofit solution for the COS legacy range.
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Global Switching Equipment Market Segments
The global switching equipment market is segmented:
By End-User: Small Enterprises, Medium Enterprises, Large Enterprises
By End-Use Industry: Automotive, Healthcare, Telecommunications
By Application: Enterprise and Industrial Usage, Telecommunication Providers, Servers and Storage Providers
By Geography: The regions covered in the switching equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Switching Equipment Global Market Report 2022 provides market size and growth forecasts for the global switching equipment market, global switching equipment market share, switching equipment market segments and geographies, switching equipment market competitive landscape including leading competitors’ revenues, profiles and market shares. The switching equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Switching Equipment Industry Playersinclude ADVA, Ciena Corporation, Ericsson, Huawei Technologies, Alcatel-Lucent, ZTE, Infinera Corporation, Fujitsu Limited, ECI Telecom Ltd, Cisco Systems, Inc, Tellabs, Inc, ADTRAN Inc, Aliathon Technology Ltd., NEC Corporation, Huawei Technologies, Nokia Siemens, Cyan, Ekinops, JDS Uniphase Corporation and BTI. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
