Sellbyville, DE -- (SBWIRE) -- 04/29/2019 -- The data center networking market is gaining traction owing to the rising adoption of cloud deployments. IoT and cloud computing provide significant cost savings to businesses in terms of reduced capital expenditure and maintenance charges. This has led to the need for replacing traditional networking solutions with hardware that have cloud computing capabilities, fueling the industry growth. In June 2017, Telefonica announced the beginning of the construction of a 2.6 MW data center with cloud capabilities in Peru. The increase in such activities is anticipated to drive data center networking market demand in the coming years.

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The rise in the prominence of hyperscale solutions will also drive the demand as they contain a large number of hardware systems such as ADCs and servers. In May 2018, PointOne announced the launch of a hyperscale division that has devoted USD 7.5 billion to the construction of hyperscale campuses for cloud companies, providing an impetus for the data center networking market growth.

The segmentation of the data center networking market indicates that the solutions segment contributed to over 75% of the overall revenue in 2017. This growth is largely due to the increase in construction activities and the modernization of the existing outdated technologies by organizations seeking to stay ahead of the competition. The adoption of Ethernet switches is anticipated to drive hardware solution growth in the data center networking market owing to companies switching to 100 Gbps ports that allow for faster speeds and the movement of data.

The declining costs of semiconductor components are anticipated to drive the growth of the data center networking market. Th advent of technologies, primarily in countries including India and the Philippines is done at relatively lower costs as compared to their Western counterparts, contributing to a strong growth potential of the industry. Additionally, the trend of outsourcing to emerging Asian countries is further driving the industry.

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The trends in the data center networking market indicates that IT & Telecom and BFSI sectors are prime adopters of the technology with BFSI sector valued at over USD 2.5 billion in 2017. These enterprises are required to store and access large amounts of data, which need to be accessed in real time. Additionally, financial services firms need reliable and fast connectivity to support latency applications for tasks such as online trading and payment processing.

Countries including China and India have become hubs of outsourced services owing to the low costs of resources such as labor, technology, and space. India data center networking market was over USD 450 million in 2017. In the aftermath of the Digital India campaign and the Start-up India Stand Up India initiative, there is a rise in the number of IT industries, which has amplified the demand for these technologies within the country.

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The players operating in the data center networking market comprise Brocade Communications, Arista Networks, Cisco Systems, Inc., Delta Electronics, Inc., Dell, Inc., Hewlett-Packard Enterprise, IBM Corporation, and Juniper Networks. As the industry comprises many players, companies are required to undertake strategies like partnerships, mergers and acquisitions, and invest heavily in R&D to sustain continuous growth.

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