Routing Market

Report Scope & Overview:

Routing Market Size was valued at USD 14.98 billion in 2022 and is expected to reach USD 29.21 billion by 2030, and grow at a CAGR of 8.7% over the forecast period 2023-2030.

Routing is the process of choosing a traffic route across a network or within or between multiple networks. Generally, routing is done on a variety of networks, including switching networks, such as the public telephone network (PSTN), and computer networks, such as the Internet.

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MARKET DYNAMICS:

KEY DRIVERS:

• Rise in demand for SDN & NVF.

• Rise in volume of content generation through internet and Web applications.

• Ethernet switches are dominating the data-center switch market.

RESTRAINTS: 

• Moving from old systems to virtualized systems can be difficult.

• Traditional system continues to be used by telecom operators, which are incapable of supporting new services for an ever-growing consumer base.

OPPORTUNITIES: 

• Rising demand for bandwidth in Data centers.

• For the routing market, Cloud & Data analytics might be a big development opportunity.

CHALLENGES: 

• Concerns about security & privacy in a virtualized environment.

IMPACT OF COVID-19: 

COVID-19 has had a severe impact on the global economy as well as all industries. To stop the plague from spreading, governments in several countries have established borders. The initial phase of the epidemic's global shutdown in many countries has had a significant influence on people's lives and quality of life. As a result, the global supply chain has been shattered. The global economy has shrunk as commodity demand has decreased considerably. Due to the outbreak, which has caused a lack of immature materials, production in all industries has been slowed. Productivity declines are caused by variables such as depreciation and supply chain disruption.

The epidemic was affecting all markets, and so was the leading market. The greatest difficulties in the construction of non-residential properties are confirmed by 2020, according to data from the Associated Builders and Contractors (ABC). In the first quarter of 2020, the US economy dropped by 5% due to the negative effects of the epidemic. Supply chain disruption has led to an increase in the prices of many telecommunications products.

On the other hand, there has been a sharp increase in demand for fiber-to-the-home (FTTH) due to the implementation of WFH policies by many companies around the world. There was a 60% increase in data usage after the COVID-19 outbreak. In April 2021, the Broadband Internet Technical Advisory Group (BITAG) released a report on network downtime during the ongoing COVID-19 epidemic. According to the report, ISPs saw an increase in internet numbers by 40% during peak hours. Moreover, according to a study conducted at the Special Surgeon Hospital (HSS), in July 2020, telephone tourism saw a “climate change” as millions of Americans prefer to visit healthcare providers amid the ongoing impact of the COVID-19 epidemic. All of these factors have contributed to the growth of the routing market at a high level.

By Type, the routing market is divided into wired and wireless routers. Among these, wireless routers have high potential in this segment.

By Application, the routing market is divided into Enterprise, Datacenter among Other. The enterprise application component is expected to hold the largest share of the leading market at the time of forecasting. Routers play an important role in enterprise by connecting to computer and internet networks. Traditional routers provide a minimum Mbit/s bandwidth but are at risk of network congestion. By using flexible and efficient application-based traffic guidance, Software-Defined WAN (SD-WAN) is the best enterprise WAN business solution in the cloud era. However, when traditional enterprise routers deviate from SD-WAN, their transmission efficiency decreases by approximately 70-80% on average. Demand for IT communications equipment, including wireless and wired routers, in business has seen a dramatic increase between due to the outbreak of COVID-19 and the implementation of home-based employment (WFH) policies by a few companies around the world.

By Industry, the Routing industry is sub-divided into BFSI, education, media & entertainment, healthcare, and residential, among others. BFSI is expected to be at the forefront of the rail market at the time of forecasting. Financial institutions rely on technology to improve the performance of processes such as transfers, loans, investments, and payments. Digital and mobile banking services increase the level of customer comfort and accessibility Traders and investors may access market data in real time thanks to high-speed networks. Therefore, financial institutions need a fast, low, and secure network to meet the challenges of fintech. The growing use of advanced solutions in the fintech industry is expected to boost the growth of the BFSI Industry line market.

COMPETITIVE LANDSCAPE:

The key market players are Cisco, Nokia, Juniper Networks, Arista Networks, New H3C Technologies, Huawei Technologies, Hewlett Packard, ASUSTeK Computer, NETGEAR, Xiaomi, Other players.

MARKET SEGMENTATION:

BY TYPE

• Wired router

• Wireless router

BY ROUTE

• Default

• Dynamic

• Static

BY PLACEMENT

• Virtual

• Core

• Edge

BY APPLICATION

• Enterprise

• Datacenter

• Other

BY INDUSTRY

• BFSI

• Education

• Media & Entertainment

• Healthcare

• Residential

• Others

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REGIONAL ANALYSIS:

The market in APAC is expected to grow at a very high rate during the forecast period. APAC countries, especially China, are at the forefront of technological advances such as 5G and Wi-Fi 6. China-owned telecommunications company China Telecom and ZTE Corporation have successfully used ZTE's core router ZXR10, T8000 in China Telecom's IP MAN in Hunan, a mountainous province in southern China. Additionally, in June 2020, China Mobile launched the first custom-designed Wi-Fi 6 AX3000, developed in partnership with HiSilicon (Shanghai). This router works in conjunction with China Mobile's smart home services and includes 160 MHz bandwidth, triple interference resistance, hardware acceleration, and chip-level security. APAC is growing in the Routing market due to increasing innovation of china.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America