Hardware & Networking Industry Model: Solid Revisions on Display Across Servers, DC Switch, DCI & AEC TAM

研报英文原文证据摘录

Hardware & Networking Industry Model: Solid Revisions on Display Across Servers, DC Switch, DCI & AEC TAM

J P M O R G A N North America Equity Research

02 July 2026

Hardware & Networking

Industry Model: Solid Revisions on Display Across

Servers, DC Switch, DCI & AEC TAM

We are updating our industry model for the Hardware and Networking sector, IT Hardware/ Telecom & Networking

spanning markets like Server, Storage, Switch, Wireless LAN, DCI, Router, Equipment

Broadband Access, and AEC, including TAMs as well as growth outlook from Joseph Cardoso AC

2026 through 2030. The industry model continues to highlight expectations from (1-212) 622-9036

third-party analysts for a robust growth outlook for product markets linked to AI joseph.cardoso@jpmchase.com

infrastructure investments, including strong 2026-2030 CAGRs for: 1) Servers of Manmohanpreet Singh

+31%; 2) Ethernet Data Center Switching of +29%; 3) DCI of +26%; and 4) AEC (1-212) 622-4527

of +28%. Growth outlooks across most other traditional end-markets continue to manmohanpreet.singh@jpmchase.com

be in the low-to-mid single digit range. Marc Vitenzon

(1-212) 622-3342

marc.vitenzon@jpmchase.com

In relation to revisions to the market outlook relative to prior forecasts from Mar-

Akanksh Chauhan

26: 1) Server market for 2026/27/28 was revised higher by +9%/+12%/+20%; 2) (1-212) 622-0045

Ethernet Data Center Switch market for for 2026/27/28 was revised higher by akanksh.chauhan@jpmorgan.com

+2%/+12%/+7%; 3) DCI market for 2026/27/28 was revised higher by +15%/ J.P. Morgan Securities LLC

+22%/+28%; 4) External Storage market for 2026/27/28 was largely unchanged;

5) AEC market for 2026/27/28 was revised higher by +5%/+19%/+5%.

We go through the key product market outlooks below, while detailed market