MarketsandMarkets predicts the data center networking market’s value will hit $21.85 billion by 2018 and have a compound annual growth rate of 11.8 percent over the next four years.
The growing use of software-based networking and cloud computing technology is projected to drive growth in the DCN sector, MarketsandMarkets said Wednesday.
Cisco, Hewlett Packard, IBM, Juniper Networks, Brocade, Alcatel-Lucent and Hitachi Data Systems are among the major industry players cited in the report.
The market research firm forecasts that North America will be the biggest market for DCN product offerings through 2018, while the Asia-Pacific will have the highest DCN spending in the coming years.
MarketsandMarkets’ report also offers an analysis of trends in networking products, security equipment, end-user environment and vertical segments.