Market maturity, downward pricing pressure, and lack of sustained demand for point-to-point Ethernet services with SD-WAN (software-defined wide area network) will result in the market dropping from $6.35 billion in 2021 to $5.94 billion by 2024.

The Australian Enterprise and Service Provider (SP) Ethernet Switch Market grew by 12.4 percent year-over-year (YoY) in the first quarter of 2018, according to IDC's APAC Quarterly Ethernet Switch Tracker. The market, which includes data centers, ended up generating revenues of $122.4 million.

Data center network equipment revenue -- including data center Ethernet switches, application delivery controllers (ADCs) and software-defined enterprise WAN (SD-WAN) -- totaled $13.7 billion in 2017, IHS Markit says in a new report. That growth translates to a 13 percent increase over the previous year.