Industrial Ethernet Switch Market Size is Expected to Reach $4.99 Billion By 2028

According to a new report published by Allied Market Research, titled, "Industrial Ethernet Switch Market By Type and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2028", the global Industrial Ethernet switch market size was valued at $2.94 Billion in 2020, and is projected to reach $4.99 Billion by 2028, registering a CAGR of 7.10%. North America region is expected to be the leading contributor to the global industrial Ethernet switch market during the forecast period, followed by North America and Europe.

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Ethernet switch is a multiport network switch that connects all the computer networking devices together on a computer. It forwards the data only to its destination port where it is required unlike Ethernet hubs which forward the data to all the ports irrespective of the requirement. The industrial-grade Ethernet Switches are particularly designed for connecting the devices in industrial network environments that are subject to extreme operating temperatures of -40°C to 75°C, shocks, and vibrations. Such type of Ethernet Switches find applications in industrial and factory automation; rail and intelligent transportation systems (ITSs); marine; and oil and gas sectors.

The global industrial Ethernet switch market is anticipated to witness significant growth over the period of forecast. Factors such as increase in adoption of industrial Ethernet switches due to its benefits along with the increasing need to ensure efficiency in communication infrastructure in the automotive & transport environment significantly drives growth of the market. In addition, rise in application of industrial Ethernet switch in industrial infrastructures such as smart grid, intelligent rail & traffic, security & surveillance, and other utilities fuels the industrial Ethernet switch market growth.

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However, the technological complexity involved in Ethernet switches that makes it vulnerable towards security attacks is anticipated to restrain the industrial Ethernet switch market share. On the contrary, the factors such as the emergence of Industry 4.0 is anticipated to provide lucrative opportunities for the market growth. In addition, emergence of connected vehicles in the automotive & transportation industry is expected to be opportunistic for growth of the industrial Ethernet switch industry during the forecast period.

The global industrial Ethernet switch market is segmented on the basis of type, industry vertical, and region. On the basis of type, the market is bifurcated into managed and unmanaged. By industry vertical, the market is classified into manufacturing, electric and power, aerospace and defense, automotive and transportation, oil and gas, and others.

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Region wise, the industrial Ethernet switch market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America contributed maximum revenue in 2020. This is attributed to the increase in industrialization as well as rapid development in the IT industry. In addition, the factors such as need for automation installations in industrial Ethernet functions on the control end, to established infrastructure, and to use the system in the devices installed on the grid fuels growth of the market in the region.

In addition, Europe holds the second largest share in the global market, and is expected to witness significant growth during the forecast period, owing to the huge presence of smart grid, manufacturing, and security & surveillance companies in the region. In addition to this, increasing government support or initiatives to strengthen industrialization in the region fuels growth of the market.

COVID-19 Impact Analysis

The COVID-19 has impacted severely on the global electronics and semiconductor sector, due to which production facility as well as new projects have stalled which in turn have the significant demand in the industries. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease; thereby, leading to slowdown in the growth of the market in 2020.

Key Findings of the Study
• As per the industrial Ethernet switch market analysis, managed segment is projected to be the type over the forecast period followed by unmanaged.
• APAC and North America collectively accounted for more than 62.92% of the industrial Ethernet switch market share in 2020.
• Electric and power segment is anticipated to witness highest growth rate during the forecast period.
• China was the major shareholder in the Asia-Pacific industrial Ethernet switch market, accounting for approximately 27.89% share in 2020.

The key players profiled in the report include Arista Networks, Cisco Systems, Inc., Belden Inc., Siemens Ag, Brocade Communication Systems, Inc., Hewlett-Packard, Juniper Network, Microsoft Corporation, Alcatel-Lucent, and Huawei. These players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to expand their foothold in the industry.

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