Network Switch for IoT Market was valued at USD 2.1 Billion in 2022 and is projected to reach USD 6.5 Billion by 2030, growing at a CAGR of 19.5% from 2024 to 2030.
The Network Switch for IoT market has witnessed significant growth from 2018 to 2022, driven by the increasing demand for smart devices and connected systems across industries. As the Internet of Things (IoT) continues to evolve, businesses and consumers alike have been adopting IoT solutions to optimize operations, enhance customer experiences, and improve efficiency. This surge in IoT adoption has led to a rising demand for reliable and scalable network infrastructure, with network switches playing a critical role in managing the flow of data between IoT devices.
During the period from 2018 to 2022, the network switch market for IoT grew at a compounded annual growth rate (CAGR) of over 15%. As industries such as manufacturing, healthcare, transportation, and smart cities expanded their IoT infrastructure, the need for efficient, high-performance network switches became more evident. With advancements in technologies like 5G, edge computing, and cloud networking, the capabilities of network switches evolved, offering faster speeds, greater scalability, and enhanced security features to meet the needs of modern IoT systems.
In particular, demand for smart network switches, which offer features like automated configuration, management, and monitoring, has been on the rise. These switches are essential for managing the complex networks created by IoT devices, which often span multiple devices, locations, and platforms. The rise of edge computing, where data is processed closer to the source of the data (i.e., IoT devices), has further accelerated the need for advanced network switching solutions that can handle high-volume, low-latency communication.
The next decade, from 2023 to 2033, is expected to see a continued expansion in the Network Switch for IoT market. As the global number of connected devices increases and industries push further into automation and smart technologies, the demand for network switches will increase exponentially. IoT-driven sectors like industrial automation, healthcare devices, and autonomous vehicles will heavily rely on efficient and secure network switches to ensure seamless communication between IoT devices.
Furthermore, as IoT networks become more complex, requiring multi-layered security and increased management capabilities, network switches will need to integrate more advanced features. These features will likely include AI-based traffic management, automated troubleshooting, and enhanced security protocols to safeguard sensitive data and networks.
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CXR Networks
Opticombine
Welotec
3onedata
Cisco Systems
CONTEC
Ark Vision Systems
WinSystems
Huawei Technologies
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Network Switch for IoT Market
Manufacturing
Medical
Utility
Others
Based on Types the Market is categorized into Below types that held the largest Network Switch for IoT market share In 2023.
Managed Network Switch
Unmanaged Network Switch
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Network Switch for IoT Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Network Switch for IoT Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Network Switch for IoT Market, By Type
6. Global Network Switch for IoT Market, By Application
7. Global Network Switch for IoT Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Network Switch for IoT Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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