Routing Global Market Report 2023
Major players in the routing market are Cisco, Huawei Technologies Co., Ltd., Juniper Networks, Inc., Hewlett Packard Enterprise Development LP, Arista Networks, Inc., ASUSTeK Computer Inc., NETGEAR, Nokia, Xiaomi, Acelink Technology Co.
New York, March 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Routing Global Market Report 2023" - https://www.reportlinker.com/p06310835/?utm_source=GNW
, Ltd., ADTRAN, Allied Telesis, Inc., Belkin International, Inc., D-Link Corporation, Sierra Wireless, and TP-Link Corporation Limited
The global routing market grew from $19.19 billion in 2022 to $20.56 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The routing market is expected to grow to $29.21 billion in 2027 at a CAGR of 9.2%.
The routing market consists of revenues earned by entities by providing routing servicefor spatial analysis on transportation networks, such as determining the most efficient path through a city, locating the nearest emergency vehicle or facility, determining the service area in and around a specific location, or fulfilling a number of orders with a fleet of vehicles.The market value includes the value of related goods sold by the service provider or included within the service offering.
The routing market also includes sales of routing components such as input ports, witching fabrics, output ports and routing processor.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Routing refer to wired or wireless network services performed by network layer devices.The routing process refers to the selection of a path for traffic in a network or across multiple networks.
The routing is applied to networks such as circuit-switched networks, public switched telephone networks (PSTN), computer networks, internet, IP address, and others. The routing algorithm, metric and costs initialize and maintain the routing table for the process of path determination.
Asia-Pacific was the largest region in the routing market in 2022. The regions covered in the routing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of routing are wired, and wireless.Wireless routing products or services refer to the use of wireless devices to transfer data packets from one network to another.
The wireless routing uses built-in antennas to build and connect with your home Wi-Fi network.As a consequence, there is internet connectivity for all the computers on your home network.
The placement of routing products and services include edge, core, and virtual, and they are used for data centre and enterprise applications. The end-users of routing include BFSI, healthcare, education, residential, and media & entertainment.
The increasing demand for internet-based devices is significantly driving the growth of the routing market.Internet-based devices are hardware devices, which run over the IoT, AI, and ML ecosystem that includes processors, sensors, routing devices, communication hardware & software, and other tools to collect and send data that connect wirelessly to a network and have the ability to transmit data.
Routing of data from source to sink is an integral part of large-scale internet-based devices and wireless solutions. For instance, according to the study published in DataProt, the number of IoT or connected devices across the globe is expected to reach 25.4 billion devices by 2025. Therefore, increasing demand for internet and internet-based devices is driving the growth of the routing market.
Technological advancements in routing are a key trend that is gaining popularity in the routing market.Major companies operating in the routing market are focused on providing technologically-advanced solutions to meet their end-customer demands and strengthen their market position.
These companies are implementing next-generation routing technologies and models into their services, such as load carrying and delivery routing, data-centric routing, optimized link-state routing, dynamic source routing, and others. For instance, In August 2021, Arista Networks, a USA-based provider of computer networking solutions and services, upgraded its routing portfolio to support edge use cases such as multi-cloud, 5G radio access networks, and other applications.
In March 2021, Cisco, a US-based networking hardware company, acquired Acacia Communications, Inc for $4.5 billion. Through this acquisition, Cisco is focused on strengthening its routing and optical networking portfolio and enhancing its ‘Internet for the Future’ strategy with world-class coherent optical solutions. Acacia Communications, Inc. is a US-based optical networking strategy and technology company that designs, develops, manufactures, and markets communication equipment.
The countries covered in the routing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The routing market research report is one of a series of new reports that provides routing market statistics, including routing industry global market size, regional shares, competitors with a routing market share, detailed routing market segments, market trends and opportunities, and any further data you may need to thrive in the routing industry. This routing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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