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Industrial Ethernet Switch Market Analysis 2023: Size, Trends, Growth Drivers, Industry Share And Forecast 2032 | Arista Networks Inc., Cisco Systems Inc., Belden Inc., Siemens Ag, Huawei Technologies Co. Ltd
Industrial Ethernet Switch Market
The Business Research Company's Industrial Ethernet Switch Global Market Report 2023 identifies growing adoption of the industrial Internet of Things (IoT) as the major driver for the Industrial Ethernet Switch market's growth in the forecast period. The industrial Internet of Things (IIoT) is the expansion and application of the Internet of Things (IoT) in industrial sectors and applications. Industrial Ethernet switches, which provide high-bandwidth or high-density industrial networking IoT solutions, are useful components for business and industrial networks all over the world.
The global industrial ethernet switches market size is expected to grow from $2.6 billion in 2022 to $2.8 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global industrial ethernet switches market size is expected to reach $3.62 billion in 2027 at a CAGR of 6.6%.
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Major competitors in the Industrial Ethernet Switch market are Arista Networks Inc., Cisco Systems Inc., Belden Inc., Siemens Ag, Huawei Technologies Co. Ltd.
A key trend in the Industrial Ethernet Switch market includes Product innovations. Major companies in the industrial ethernet switch market are developing advanced products to sustain their position in the market. For instance, in May 2022, Westermo, a Sweden-based industrial data communications products manufacturer, launched a 10-gigabit industrial Ethernet switch. This was designed to accommodate growing bandwidth demands, allowing contemporary, large-scale data communication networks to transport more data than ever before. The product offers the WeOS operating system, which assures continuous operation and support for an expanding range of protocols and features while streamlining installation, operation, and maintenance, contributing to the reduction of complexity.
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The Industrial Ethernet Switch market is segmented -
1. By Type: Managed Industrial Ethernet Switches, Unmanaged Industrial Ethernet Switches
2. By Application: Smart Grid, Security And Surveillance, Intelligent Rail And Traffic
3. By Industry Vertical: Manufacturing, Electric And Power, Aerospace And Defense, Automotive And Transportation, Oil And Gas, Other Industry Verticals
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Industrial Ethernet Switch market.
The Business Research Company's "Global Industrial Ethernet Switch Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Industrial Ethernet Switch Market Include:
1. Executive Summary
2. Industrial Ethernet Switch Market Characteristics
3. Industrial Ethernet Switch Market Trends And Strategies
4. Industrial Ethernet Switch Market - Macro Economic Scenario
5. Industrial Ethernet Switch Market Size And Growth
……
26. Africa Industrial Ethernet Switch Market
27. Industrial Ethernet Switch Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Industrial Ethernet Switch Market
29. Industrial Ethernet Switch Market Future Outlook and Potential Analysis
30. Appendix
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