Industrial Ethernet Switches Market Size, Share, Opportunities, And Trends By Type (Unmanaged, Managed), By End-user (Manufacturing, Aerospace & Defence, Energy & Power, Oil & Gas Industry, Mining, Automotive, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Feb 2023
- Report Code : KSI061610980
- Pages : 114
The global industrial ethernet switches market is expected to witness a CAGR of 2.65% during the forecast period and will grow to a US$33.685 billion market value globally by the end of 2023. Global Ethernet consumption is driven by the continuously widening array of applications and end-user industries. The adoption of IIoT by a variety of industries is also a contributing factor towards its market growth. Further, end-users from various verticals are realizing the adoption of IIoT for increasing efficiency and reducing downtime. However, the global market for Industrial Ethernet switches may face restraints due to the high capital investments involved during initial installations and additional services. Also, the lack of skilled labor in a number of countries is another issue for its operation. The Industrial Ethernet switch market is expected to grow as various advancements in Ethernet technologies render companies’ ability to monitor their assets anywhere on the globe.
The automotive segment held a major market share in 2016. The global industrial Ethernet switches market is highly driven by the automotive segment and will dominate the market over the next few years with advancements in the industry. The growth of the industrial Ethernet switch market is aided by the growth of automation in end-user verticals such as Aerospace & Defence, Energy & Power Industry, Oil & Gas Industry, and others.
North America and Europe hold a key share in the global industrial ethernet switches market due to high automation in industries in these regions. The larger market share is also aided by the presence of various production units for the smart grid, manufacturing industries, and security and surveillance companies. The Asia-pacific region is expected to witness the highest growth rate during the forecast period owing to the large-scale automation in emerging markets such as India and China.
The key vendors in the global industrial ethernet switches market are namely Beckhoff Automation, Cisco, Rockwell Automation, Schneider Electric, Siemens, ABB, Belden, and GE among others. In order, to increase their market share major vendors are launching a variety of products that can be used in a wide array of set-ups. In 2016, Siemens launched a new Ethernet switch SCALANCE XC-100, which can be utilized to establish an electrical, optical line, and star structures for machine-level networking. These new products have widened the scope of Industrial Ethernet switches to different environmental conditions such as ship-building, transportation, series machine construction, and Oil & gas industry.
The global industrial ethernet switches industry is segmented on basis of type, end-user, and geography.
- By Type
- By End-user
- Aerospace & Defence
- Energy & Power
- Oil & Gas Industry
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- South Africa
- Asia Pacific (APAC)
- South Korea
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