Industrial Ethernet Switch Market Opportunities and Strategies 2024-2033 - Growth Analysis, Outlook, and Comprehensive Overview

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The Business Research Company presents an extensive market research report on the Industrial Ethernet Switch Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The industrial ethernet switch market size has grown strongly in recent years. It will grow from $2.8 billion in 2023 to $3.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to automation in manufacturing, rise of Industry 4.0, growing need for high-speed data transmission, increased adoption of ethernet-based protocols, need for robust and reliable networking.

The industrial ethernet switch market size is expected to see strong growth in the next few years. It will grow to $3.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to integration with 5G networks, rapid expansion of edge computing, increasing cybersecurity concerns, growth in remote monitoring and maintenance, and continued IIoT expansion. Major trends in the forecast period include integration of time-sensitive networking (TSN), migration to gigabit and 10-gigabit ethernet, enhanced security features, robustness for harsh environments, remote management and monitoring.

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Key Market Players:

Major companies operating in the industrial ethernet switch market report are Microsoft Corporation, Dell Technologies Inc., Huawei Technologies Co. Ltd., Hikvision Digital Technology Co. Ltd., Siemens Ag, International Business Machines Corporation, Cisco Systems Inc., Schneider Electric SE, ABB Ltd., Hewlett Packard Enterprise Company, Rockwell Automation Inc., Omron Corp., Juniper Networks Inc., Arista Networks Inc., Phoenix Contact GmbH & Co. KG, Avaya Inc., Hirschmann (a Belden brand), Belden Inc., Advantech Co. Ltd., Polycom Inc., Alcatel-Lucent S.A, Extreme Networks Inc., Netgear Inc., Allied Telesis Inc., Moxa Inc., Beckhoff Automation GmbH & Co. KG, 3onedata Co., Mencom Corporation, Korenix Technology Co. Ltd., Brocade Communication Systems Inc., Weidmüller, Westermo Network Technologies, B&R Industrial Automation GmbH, Harting Technologiegruppe, TRENDnet

Market Drivers:

The growing adoption of the industrial Internet of Things (IoT) is expected to propel the growth of the industrial ethernet switch market going forward. 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. For instance, in September 2022, according to a report published by Ericsson, a Sweden-based telecommunications company, nearly 60% of cellular IoT connections are expected to be broadband IoT by the end of 2028, with 4G connecting the majority. Globally, there were 13.2 billion IoT connections in 2022, increasing to 34.7 billion connections predicted by 2028, indicating an 18% growth rate. Therefore, the increasing adoption of the industrial Internet of Things is driving the industrial ethernet switch market.

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The industrial ethernet switch market covered in this report 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

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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