Blockchain Press Releases
Network Switches Market is Projected To Reach USD 40770 Million In 2029 With A CAGR of 4.7% | Valuates Reports
BANGALORE, India, Aug. 4, 2023 /PRNewswire/ — Network Switches market is segmented by Type – Fixed Managed, Fixed Unmanaged, Modular Switches, Segment by End Users – Residential Use, Office or Commercial Use, Industrial Use, Others.. Global Opportunity Analysis and Industry Forecast 2023-2029. It is published in Valuates Reports under the Networking Category.
The Global Network Switches market is projected to reach USD 40770 million in 2029, increasing from USD 29450 million in 2022, with a CAGR of 4.7% during the period of 2023 to 2029.
Major Factors Driving The Growth Of Network Switches Market
To handle the growing data traffic and ensure error-free connectivity, the rapid development of cloud computing and data centers has increased the demand for high-performance network devices, especially switches. This factor is expected to drive the growth of the Network Switches Market.
In addition, the ongoing digital revolution in Telecommunications, healthcare, and finance requires scalable and reliable networks, which motivates companies to invest in the latest switching technologies. As a result, the network switch market continues to grow due to the growing demand for fast, secure, and integrated networks in today’s digital environment.
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TRENDS INFLUENCING THE GROWTH OF NETWORK SWITCHES MARKET
The complexity of data centers is rising as a result of virtualization and a rise in end device numbers. Companies that want to geographically extend their operations must use efficient data center networking strategies. It is challenging to respond to quickly changing security risks and put new technologies into the market when using traditional data center management strategies. More and more commercial organizations are embracing the use of managed switches to resolve these problems and maintain the flexibility and security of data centers. This factor is expected to drive the growth of the Network Switches Market.
There is a greater demand for dependable network switches that can manage the increasing traffic as a result of the growth of IoT devices, cloud computing, and big data analytics. Furthermore, the development of virtualization technologies and software-defined networking (SDN) necessitates the use of sophisticated switches that can change to accommodate these changing topologies. This factor is expected to drive the growth of the Network Switches Market
Demand for network switches is growing as edge computing becomes more popular. Edge computing reduces latency and increases system performance by bringing data processing and storage closer to the point of production. Businesses need intelligent and flexible network switches that can handle the distribution of data and workloads across edge devices, data centers, and clouds to enable edge computing environments. This factor is expected to stimulate the growth of the network switch market.
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NETWORK SWITCHES MARKET SHARE ANALYSIS
Cisco, and Huawei, among others, are the major manufacturers of network switches. About 48% of the market for network switches is accounted for by the top 3 companies.
Network switches are most popular in North America, where they account for around 37% of global sales, followed by Europe and Asia-Pacific. During the forecast period, the North American region is anticipated to account for the highest share of the market for network switches. The need for more IT capacity and the expanding use of new data center technologies are to blame for this.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
Cisco, Huawei, Arista Networks, HPE, Juniper, Dell Technologies, Broadcom, Alcatel-Lucent, D-Link, TP-Link, Extreme Networks, Ruijie Networks, NETGEAR, Fortinet, Inc., Hikvision, Fujitsu, Panasonic, Allied Telesis.
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A Finiko executive has been sentenced to three years in prison by a Russian court for her involvement in what is described as the largest crypto scam in the post-Soviet era.
According to Izvestia, Liliya Nurieva, the former head of networks at Finiko, received a four and a half year sentence from a court in Vakhitovsky, Kazan on May 17. However, the court stated that it would take into account the time she had already spent in pre-trial detention as “time served.”
Despite prosecutors’ requests for a six and a half year sentence, the judge rejected them. Nurieva, who had faced a possible 10-year imprisonment, reached a “pre-trial agreement” with prosecutors.
Nurieva’s defense attorney announced her intention to appeal the verdict. She was convicted of fraud and organized crime-related charges.
Finiko, initially presented as a crypto “investment fund” in 2018, allegedly defrauded citizens of around $1.1 billion, according to the country’s Central Bank. Much of this sum remains unrecovered.
The unraveling of the project began in 2021, leading to the flight of many Finiko figures abroad. After an international manhunt, Interpol detained co-founder Edvard Sabirov in the UAE in late 2022, while co-founder Kirill Doronin was arrested in mid-2021.
However, Nurieva is the first Finiko executive to be convicted and sentenced.
Finiko promised investors an “automated profit-generating system” with returns of “up to 30%” on investments of $1,000 or more. It also offered various lending and financial services with lucrative terms.
The company allegedly employed Ponzi scheme tactics, using funds from new investors to pay off older ones. By mid-2021, its platforms became unstable, with customers reporting delayed payments. In June of that year, payments ceased entirely, the value of its cryptocurrency plummeted, and Finiko offices nationwide abruptly closed.
During its peak, Finiko enjoyed popularity on social media, and initial estimates suggested nearly 10,000 individuals invested in its platforms.
Nurieva’s defense argued that she was unaware of Finiko’s fraudulent nature upon joining and had invested her own money in the company. It wasn’t until later interactions with senior executives that she realized the scheme’s illegitimacy.
Some Finiko investors attended the trial, with one, Lyudmila Yamshchikova from Kazan, expressing disappointment over halted payments, which she had relied on for mortgage payments and other financial obligations.
Source: cryptonews.com
The post Russian Court Jails Finiko Crypto Scam Exec for Three Years appeared first on HIPTHER Alerts.
Hong Kong’s launch of its first Bitcoin and Ether ETFs in late April aimed to capture part of the $55 billion US market. However, the ETFs have experienced investor outflows, perplexing analysts. Experts attribute this to concerns over China’s strict crypto stance and high management fees compared to US products.
Despite initial setbacks, some analysts remain optimistic. Bloomberg’s Rebecca Sin notes that total assets under management (AUM) exceed $250 million, indicating potential growth to $1 billion within two years. Hong Kong’s crypto journey is still unfolding, facing challenges from regulatory uncertainties and regional competitors like Singapore and Dubai.
On the Flipside
High Management Fees: Hong Kong’s ETFs have higher fees than similar US products, potentially deterring investors.
Regulatory Uncertainty: The evolving regulatory landscape in Hong Kong may create hesitancy among investors.
Institutional Adoption: Established financial institutions in Hong Kong may be slow to embrace crypto, limiting market growth.
Source: dailycoin.com
The post Hong Kong’s Crypto Ambitions Hit Snag: Can ETFs Steer the Ship? appeared first on HIPTHER Alerts.
In a bid to offer its users more opportunities in the Decentralized Finance (DeFi) space, Binance Web3 Wallet has introduced two new ways to earn: ‘Yield Plus’ and ‘Simple Yield’. These new features will be accessible right within the Binance Web3 Wallet Earn section.
About Yield Plus Zone
The Yield Plus Zone is a unique feature designed to showcase projects with potential airdrops or additional yield opportunities. This feature will give users easy access to projects that offer multiple levels of rewards. The initial projects that will be included are Eigenpie, Kamino Finance, Lista Dao, Marinade, Ondo Finance, Renzo, StakeStone, and SolBlaze. Binance Web3 Wallet plans to announce exclusive campaigns in future updates through the Binance Web3 X account.
About Simple Yield Zone
The Simple Yield Zone allows users to earn an Annual Percentage Rate (APR) with stablecoins and other tokens by providing liquidity to lending protocols. When providing liquidity, users may receive both the Supply APR and Distribution APR, depending on the protocol chosen.
More on Binance Web3 Wallet
Developed with a commitment to innovation, security, and seamless user experience, the Binance Web3 Wallet is a secure, self-custodial crypto wallet integrated within the Binance App. It serves as a bridge between the Exchange and Web3, enabling users to interact with multiple blockchains, trade thousands of tokens, earn yield, and explore a selection of the best decentralized applications (dApps) all in one wallet.
Source: blockchain.news
The post Binance Web3 Wallet Introduces Yield Plus and Simple Yield appeared first on HIPTHER Alerts.
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