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Data Center Networking Market Revenue to Record USD 38.33 Billion by 2030, Exhibiting a Robust CAGR of 7.53%, With North America Leading the Market as Widespread Application of 5G Technology Rises, Projects Kings Research



DUBAI, UAE, Feb. 12, 2024 /PRNewswire/ — According to the recent report published by Kings Research, the global Data Center Networking Market was valued at USD 21.43 billion in 2022 and is projected to reach USD 38.33 billion by 2030, growing at a CAGR of 7.53% from 2023 to 2030. The surge in data center virtualization and the uptake of advanced data center operating models are pivotal driving factors propelling the rapid growth of the data center networking industry. The market’s expansion is primarily steered by the need for real-time user interaction and the optimization of on-demand services in diverse organizations. Furthermore, the burgeoning utilization of cloud services across various industries necessitates the expansion of data center networks.

Data center networking is the intricate orchestration of network resources within a data center setting. It entails the intricate interconnection of various network components, including routers, switches, firewalls, load balancers, and storage systems, to establish a robust and expandable network framework within the data center. Data center networking plays a pivotal role in facilitating the seamless flow of data and communication among servers, storage systems, and other critical data center assets. Its significance extends to bolstering the performance of data-intensive applications, ensuring uninterrupted operation, and facilitating the smooth functioning of IT services. Within this framework, data center switches assume a central role, diligently forwarding network data packets and fostering connectivity among devices within the data center.

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Competitive Landscape

Leading companies in the data center networking market are employing various strategic approaches, including partnerships, mergers, product innovations, and joint ventures, to broaden their product offerings and enhance their market presence in various regions.

In March 2023, Edgecore introduced the DCS520, a high-capacity 400G switch designed for cutting-edge data center network architectures, catering to the demands of cloud computing environments and next-generation data centers while enhancing core network infrastructure.

Major players profiled in the global data center networking market include:

Cisco Systems, Inc.Dell Inc.Edgecore Networks CorporationGoogle LLCHewlett Packard Enterprise Development LPHoneywell International Inc.Huawei Technologies Co. Ltd.Juniper Networks, Inc.Microsoft CorporationIBM

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Trending Now: Data Center Networking: CtrlS and NT Collaborate to Build Thailand’s Hyperscale Data Center Campus

In August 2023, CtrlS Datacenters Ltd and National Telecom Public Company (NT) announced a strategic collaboration to build a hyperscale data center campus in Thailand. The campus, which will be located in the Eastern Economic Corridor (EEC) in Chonburi, will have a design capacity of up to 150 MW.

As part of the collaboration, NT will provide data center networking services for the campus. This includes Internet connectivity, wide area network (WAN) connectivity, local area network (LAN) connectivity, cloud networking, and security services.

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Rising Telecom Subscribers End Users to Bolster Market Growth

Based on end-user, the data center networking market is segmented into IT & telecom, BFSI, retail, healthcare, public sector & utilities, manufacturing, energy, and others.

The IT and te­lecommunications sector accounted forthe largest market share in 2022. This segme­ntal growth is due to factors such as a rise in tele­com subscribers and the widespre­ad use of smartphones, which generate more data and increase­ demand for data center ne­twork solutions. The adoption of virtualization, cloud computing technology, and efficient storage systems also drives demand for data ce­nter networks and storage devices, further contributing to market growth.

Growing Adoption of Energy-efficie­nt Data Center Networking Services to Augment Data Center Networking Market Progress

Based on component, the data center networking market is segmented into hardware, software, and services. The se­rvice segment is expected to hold a sizeable share of the global market by 2030, driven by the widespre­ad adoption of energy-efficie­nt data center networking solutions. These solutions offer centralize­d control, flexibility, and scalability, ultimately boosting system capacity.

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Rising Demand for High-Speed Internet to Drive Data Center Networking Market Growth

The increasing user demand for high-speed Internet stands as a powerful driving force behind the growth of data center networks. This surge in the need for high-speed Internet is spurring the expansion of data center networks and the imperative for streamlined data transmission. As users increasingly anticipate swift data accessibility, seamless streaming services, and real-time applications, the demand for robust and efficient data center networks to handle heightened traffic intensifies. The emergence of cloud services rooted in data centers further fuels the need for high-speed Internet and data center services. In response to this ever-increasing requirement for swifter and more dependable connections, companies and network operators are prioritizing the provision of high-speed Internet, propelling the growth of the data center networking industry.

Widespread Applications of 5G Technology in North America to Boost Market Expansion

North America is anticipated to retain its dominance in the global data center networking market. This is due to the widespread use of software-de­fined networks and 5G technology, which has led to an increased demand for data ce­nters. Additionally, the adoption of cloud computing, virtualization, and storage syste­m services has also influenced the demand for data cente­r networking in this region. Within North America, the United States specifically has experienced significant growth.

As data se­curity gains importance, North American data cente­rs are required to adhere to strict regulations and implement robust security measures to safeguard sensitive information. The region’s focus on connectivity, security, and infrastructure­ also makes it a vital area for companies looking to establish their data center ope­rations, driving market growth.

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Key Points from TOC:

1 Introduction of the Global Data Center Networking Market 
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions

2 Executive Summary

3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach

4 Global Data Center Networking Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis

5 Impact of Russia-Ukraine War

6 Global Data Center Networking Market, By Component

7 Global Data Center Networking Market, By End-User

8 Global Data Center Networking Market, By Geography

9 North America 

10 Europe 

11 Asia Pacific 

12 Middle East & Africa 

13 Latin America 

14 Global Data Center Networking Market Competitive Landscape
14.1 Overview
14.2 Key Developments
14.3 Key Strategic Developments
14.4 Company Market Ranking
14.5 Regional Footprint
14.6 Industry Footprint

15 Company Profiles
15.1 Cisco Systems, Inc.
15.1.1 Key Facts
15.1.2 Financial Overview
15.1.3 Type Benchmarking
15.1.4 Recent Developments
15.1.5 Winning Imperatives
15.1.6 Current Focus & Strategies
15.1.7 Threat from competition
15.1.8 SWOT Analysis
15.2 Dell Inc. 
15.2.1 Key Facts
15.2.2 Financial Overview
15.2.3 Type Benchmarking
15.2.4 Recent Developments
15.2.5 Winning Imperatives
15.2.6 Current Focus & Strategies
15.2.7 Threat from competition
15.2.8 SWOT Analysis
15.3 Edgecore Networks Corporation
15.3.1 Key Facts
15.3.2 Financial Overview
15.3.3 Type Benchmarking
15.3.4 Recent Developments
15.3.5 Winning Imperatives
15.3.6 Current Focus & Strategies
15.3.7 Threat from competition
15.3.8 SWOT Analysis
15.4 Google LLC
15.4.1 Key Facts
15.4.2 Financial Overview
15.4.3 Type Benchmarking
15.4.4 Recent Developments
15.4.5 Winning Imperatives
15.4.6 Current Focus & Strategies
15.4.7 Threat from competition
15.4.8 SWOT Analysis
15.5 Hewlett Packard Enterprise Development LP
15.5.1 Key Facts
15.5.2 Financial Overview
15.5.3 Type Benchmarking
15.5.4 Recent Developments
15.5.5 Winning Imperatives


Browse Complete TOC:

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About Us:

Kings Research stands as a renowned global market research firm. With a collaborative approach, we work closely with industry leaders, conducting thorough assessments of trends and developments. Our primary objective is to provide decision-makers with tailored research reports that align with their unique business objectives. Through our comprehensive research studies, we strive to empower leaders to make informed decisions.

Our team comprises individuals with diverse backgrounds and a wealth of knowledge in various industries. At Kings Research, we offer a comprehensive range of services aimed at assisting you in formulating efficient strategies to achieve your desired outcomes. Our objective is to significantly enhance your long-term progress through these tailored solutions.

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The Standard Titled “Technical and Application Requirements for Intelligent Software Engineering Part 1: Large-scale Code Models”, in which Xiao-I (NASDAQ: AIXI) Participated, has been Officially Released




SHANGHAI, March 1, 2024 /PRNewswire/ — Recently, the China Academy of Information and Communications Technology (“CAICT”) and the Industrial and Commercial Bank of China (“ICBC”) jointly released a milestone industry standard called “Technical and Application Requirements for Intelligent Software Engineering Part 1: Large-scale Code Models” (Standard Number AIIA/PG 0110-2023). It is worth mentioning that Xiao-I Corporation (NASDAQ: AIXI) (“Xiao-I” or the “Company”), a leading company in the field of artificial intelligence, has actively participated in the development of this standard. The release of this standard marks the birth of the industry’s first large-scale code model standard, providing strong support for the healthy and orderly development of the Artificial Intelligence for Software Engineering (AI4SE) industry.

The new standard provides detailed specifications for the technical capabilities and application requirements of large-scale code models, covering various stages such as research and development, evaluation, and acceptance. Its aim is to provide clear references for enterprises in the construction and improvement process of large-scale code models. The standard covers three main parts: general capabilities, specific scenario capabilities, and application maturity. These include 16 capability items and over 100 specific capability requirements. These requirements establish comprehensive technical capability standards for large-scale code models across multiple dimensions, including input diversity, task diversity, language comprehensiveness, result acceptability, and result accuracy.

The release of this standard is of great significance in promoting the standardization and development of large-scale code model technology. It will not only enhance the overall technical level of the industry but also facilitate cooperation and communication among enterprises, promoting the industry’s development towards a more standardized and professional direction.

Xiao-I has always been at the forefront of innovation in the field of artificial intelligence. In June 2023, the Company released the Huazang General Model, aiming to create an operating system for the new era of artificial intelligence with the core principles of “being controllable, customizable, and deliverable.” By actively participating in the development of industry standards related to large-scale models, Xiao-I has not only demonstrated its forward-thinking layout, but also its determination and responsibility as a leading domestic AI company in promoting the standardization process in the industry.

Looking ahead, Xiao-I will continue to devote itself to the standardization work in the field of artificial intelligence, actively participating in the development and revision of relevant standards, and contributing wisdom and strength to the healthy development of the industry. Meanwhile, the Company will continue to promote technological innovation, improve product performance, provide users with high-quality artificial intelligence services, and contribute to the efficient and rapid development of China’s artificial intelligence industry.

About Xiao-I Corporation

Xiao-I Corporation is a leading cognitive intelligence enterprise in China that offers a diverse range of business solutions and services in artificial intelligence, covering natural language processing,voice and image recognition, machine learning and affective computing. Since its inception in 2001,the Company has developed an extensive portfolio of cognitive intelligence technologies that are highly suitable and have been applied to a wide variety of business cases. Xiao-I powers its cognitive intelligence products and services with its cutting-edge, proprietary AI technologies to enable and promote industrial digitization, intelligent upgrading, and transformation.For more information, please visit: 

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For investor and media inquiries, please contact:
Ms. Berry Xia

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Update on shares repurchased during the first quarter 2024: Loomis AB




STOCKHOLM, March 1, 2024 /PRNewswire/ — Loomis AB has through the repurchase program that was resolved and communicated on January 30, 2024, and that is still being executed, repurchased 310,898 shares as of February 29, 2024. Loomis AB’s holding of own shares thereby amounts to 4,519,680 shares, corresponding to 6.0% of the outstanding shares in the company. The total number of shares in Loomis AB, including the company’s own shares, amounts to 75,279,829.

The share repurchases may comprise an amount up to a maximum of SEK 200 million and will end no later than on April 5, 2024.

For information about transactions in the repurchase program, please see:

This press release is also available on the company’s website,


Jenny Boström
Head of Sustainability and IR
Mobile: +46 79 006 45 92

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Update on shares repurchased during the first quarter 2024

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Bitget Wallet now supports the Blast Mainnet, pioneering full ecosystem support as a Web3 wallet




VICTORIA, Seychelles, March 1, 2024 /CNW/ — The globally leading Web3 trading wallet Bitget Wallet has now integrated support for the Blast Mainnet, making it the first all-in-one Web3 wallet for the Blast ecosystem. Users can effortlessly add and switch mainnets within the wallet with just one click, without the need for manual configuration. This integration enables users to manage, transfer, swap, and interact on one of the largest L2 launches in 2024.

Bitget Wallet has aggregated liquidity from mainstream DEXs within the Blast ecosystem, such as BlasterSwap and MonoSwap, into its Swap feature. This allows for mainnet token Swap transactions, providing users with convenient services for trading assets on the Blast blockchain.

During the Blast testnet phase, Bitget Wallet was among the first to offer support, unveiled a dedicated zone in its DApp page for Blast. This section featured over 40 elite projects from Blast’s Big Bang incentive program, enabling users to easily explore, interact, and potentially receive future airdrops in the Blast ecosystem. Following the launch of the Blast mainnet, Bitget Wallet plans to continue integrating popular projects from the Blast ecosystem, offering users extensive asset management features and a comprehensive ecosystem experience.

Bitget Wallet’s COO, Alvin Kan, highlights Blast as a Layer 2 solution with staking at its core, gaining market attention since launch. He says, “We’re committed to cutting-edge tech, lowering Web3 engagement barriers. Collaborating with quality mainnets like Blast, we aim to drive Web3 ecosystem growth.”

This week, Bitget Wallet engages with popular Blast ecosystem projects, exploring market traction, “Stake Layer 2” narrative, TVL enhancement strategies by staking and earning points, notable projects, and effective ways for users to participate in the Blast ecosystem upon mainnet launch. This provides users with valuable insights for meaningful ecosystem engagement.

Additionally, Bitget Wallet is organizing major events to support the Blast ecosystem, providing users with opportunities for discovering new assets.

About Bitget Wallet

Bitget Wallet stands as Asia’s largest and one of the world’s top non-custodial Web3 wallets, boasting over 19 million users globally. Featuring a comprehensive array of features including asset management, intelligent market data, swap functionality, launchpad, inscribing, DApp browsing, and more, Bitget Wallet promises users an unmatched multi-chain Web3 experience. Currently, Bitget Wallet supports over 100 blockchains, hundreds of EVM-compatible chains, and more than 250,000 cryptocurrencies. By aggregating liquidity across hundreds of leading DEXs and cross-chain bridges, Bitget Wallet is able to facilitate seamless and efficient trades on 40+ blockchains.

For more information, visit: Website | Twitter | Telegram | Discord

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