Industrial Ethernet Switches Market - Forecasts from 2018 to 2023
Posted by Genny kim on March 21st, 2018
The global industrial ethernet switches market is expected to witness a CAGR of 2.65% during the forecast period and will grow to US.685 billion market value globally by the end of 2023. The global Ethernet consumption is driven by the continuously widening array of applications and end-user industries. Adoption of IIoT by a variety of industries is also a contributing factor towards its market growth. Further, end-users from various vertical are realizing adoption of IIoT for increasing efficiency and reduce downtime.
However, the global market for Industrial Ethernet switches Market may face restraints due to high capital investments involved during initial installations and additional services. Also, lack of skilled labor in a number of countries is another issue for its operation. 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.
By End user
The automotive segment held major market share is 2016. The global industrial Ethernet switches market is highly driven by automotive segment and will dominate the market over the next few years with advancements in the industry. The growth of 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 smart grid, manufacturing industries and security and surveillance companies. 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 the market share major vendors are launching a variety of products that can be used in wide array of set-ups. In 2016, Siemens launched new Ethernet switch SCALANCE XC-100, which can be utilized to establish 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.
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About the AuthorGenny kim
Joined: March 13th, 2018
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