The Global Industrial Ethernet Switch Market is projected to register a CAGR of 7.3% during 2023-2030, fueled by growing aerospace & defense, oil & gas, and automotive industries, Major Participants Includes are Cisco Systems Inc., Belden Inc., Alcatel-Lucent, Hewlett Packard Enterprise, Avaya Inc., IBM Corporation, Broadcom Inc., Siemens AG, ZTE Corporation, Omron Corporation, Rockwell Automation, and Moxa Inc.
New York, May 29, 2023 (GLOBE NEWSWIRE) -- According to the research report Global Industrial Ethernet Switch Market published by Reports Insights, the market achieved a value of USD 3,257.87 Million in 2022. With a projected CAGR of 7.3%, the market is expected to surpass USD 5,609.64 Million by 2030. The growth of the industrial Ethernet switch market can be attributed to the increasing adoption of industrial automation and the demand for reliable and secure communication networks in industries such as manufacturing, oil and gas, and transportation. Request Sample Now Dual Band Outdoor Access Point
Industrial ethernet switches are primarily designed to offer high-speed and robust data transmission for utilization in industrial networks and settings. Several types of industrial switches such as managed switches, unmanaged switches, and others are mainly employed in aerospace & defense, food & beverage, oil & gas, automotive, and other industries. The market for industrial ethernet switches is highly competitive, with a large number of players offering a wide range of products. The market is projected to continue to grow in the coming years, driven by the increasing demand for industrial ethernet switch in aerospace & defense, oil & gas, and automotive industries, among others.
The increasing utilization of industrial ethernet switches in the aerospace & defense sector is one of the key factors driving the market growth. Industrial ethernet switches are deployed in the aerospace & defense sector for utilization in commercial aircraft, unmanned aerial vehicles, helicopters, and others. The features of industrial ethernet switches including high reliability, interoperability, high speed, and efficient communication in harsh conditions are prime aspects increasing its utilization in the aerospace and defense sector. For instance, Airbus delivered a total of 611 commercial aircraft in 2021, an increase of around 8% in contrast to 2020. Thus, the rising aircraft production is driving the adoption of industrial ethernet switches, owing to their aforementioned features, in turn proliferating the market growth.
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Further, the rising application of industrial ethernet switches in the oil & gas sector is a significant factor spurring the growth of the industrial ethernet switch market. Industrial ethernet switches are used in the oil & gas sector as the communication backbone of an offshore drilling platform. Industrial ethernet switches are often installed on floating production platforms for connecting facilities or devices between various platforms with environmental constraints. In addition, factors including the rising development of offshore oil & gas production plants and the growing need for robust network connectivity solutions in harsh industrial settings are among the major factors driving the application of industrial ethernet switches.
Global Industrial Ethernet Switch Market Segmentation Details:
Based on Type, the managed switches segment contributed to a substantial share to the market growth in 2022. Managed switches fosters reliable communication among ethernet devices and play a crucial role in managing, configuring, and monitoring traffic on a network. Moreover, factors including the rising penetration of industrial automation and the growing need for industrial switches with greater flexibility for controlling, managing, and prioritizing network traffic are major factors boosting the growth of the managed switches segment.
Based on End User, the aerospace & defense segment is anticipated to offer substantial shares to the Global Industrial ethernet Switch Market growth during the forecast period. The features of industrial ethernet switches including high reliability, interoperability, high speed, and efficient communication in harsh conditions are prime aspects increasing its utilization in the aerospace and defense sector. Moreover, factors including the rising investments in the production of aviation and defense systems are expected to fuel the market growth during the forecast period.
Based on Region, North America accounted for the largest share contribution to the market growth in 2022. The prevalence of significant industrial ethernet switch providers in North America such as Cisco Systems Inc., Belden Inc., Avaya Inc., Broadcom Inc., and others lead to significant innovations in industrial ethernet switch in the region. In addition, factors such as the rising investments in military and defense sector and growing deployment of industrial switches in commercial and defense aircraft in North America are expected to drive market growth in the region during the forecast period.
Cisco Systems Inc., Belden Inc., Alcatel-Lucent, Hewlett Packard Enterprise, Avaya Inc., IBM Corporation, Broadcom Inc., Siemens AG, ZTE Corporation, Omron Corporation, Rockwell Automation, and Moxa Inc.
Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more.
North America, Asia-Pacific, Latin America, Europe, Middle East & Africa
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Global industrial ethernet switch market size is estimated to exceed USD 5,609.64 million by 2030 and grow at a CAGR of 7.3% during the forecast period (2023-2030).
Globally, industrial ethernet switches are divided based on the type into unmanaged switches, managed switches, and others.
On the basis of end user, the market is classified into aerospace & defense, food & beverage, oil & gas, automotive, and others.
The market is geographically divided into five regions: Europe, South America, the Asia-Pacific, North America, and the Middle East and Africa.
North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in industrial ethernet switch.
Industrial Ethernet Switch Market Growth Drivers:
The growing automotive industry is spurring the market growth for industrial ethernet switch
Rising application of industrial ethernet switches in the oil & gas sector is driving the market growth
The high cost of industrial ethernet switches is restraining the market growth
In September 2020, Brainboxes launched its new industrial ethernet switch. The switch is integrated with 8 ethernet ports to provide reliable multiport networking features along with safe operation in extreme temperatures and harsh industrial environments.
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List of Major Global Industrial Ethernet Switch Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
Global Industrial Ethernet Switch Market Segmentation:
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