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Single Pair Ethernet Market Outlook, Critical Insights, Trends Analysis, Key Players And Forecast To 2033
Single Pair Ethernet Market Outlook
According to The Business Research Company's, The single pair ethernet market size has grown rapidly in recent years. It will grow from $3.07 billion in 2023 to $3.40 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to the need for energy-efficient solutions, industry 4.0, the emergence of IoT, advancements in connectivity standards, and regulatory compliance requirements.
The single pair ethernet market size is expected to see rapid growth in the next few years. It will grow to $5.20 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to IoT expansion in the automotive sector, expansion of smart grids, demand for POE (power over ethernet) solutions, transition to remote work and IoT connectivity, and integration with wireless technologies. Major trends in the forecast period include the growing adoption of single pair ethernet solutions in building automation systems, integration with time-sensitive networking (TSN), standardization and interoperability initiatives, adoption in healthcare and telemedicine, and growth in edge computing applications.
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Market Drivers and Trends:
A rapid increase in industrial robots is expected to propel the growth of the single-pair ethernet market going forward. Industrial robots are programmable machines designed to automate tasks typically performed by humans in industrial settings. The adoption of industrial robots is rising due to their ability to increase productivity, improve quality, enhance workplace safety, and reduce labor costs in manufacturing and industrial settings. Single pair ethernet facilitates high-speed data transmission and power delivery in industrial robots, streamlining communication and connectivity while reducing cabling complexity. For instance, in 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, the installation of industrial robots surpassed 500,000 units in 2022, contributing an additional 5% to the previous record of 526,144 units installed in 2021. In Asia, 404,578 units were installed, reflecting a 5% increase from the 2021 figure of 385,143 units. Therefore, the rapid increase in industrial robots is driving the growth of the single pair ethernet market.
Major companies operating in the single pair Ethernet market are developing innovative products, such as Long-Reach Single-Pair Power over Ethernet, to gain a competitive edge in the market. Long-Reach Single-Pair Power over Ethernet (LRSPoE) refers to a technology that enables the transmission of both data and power over extended distances using a single twisted-pair cable. For instance, in November 2022, Analog Devices Inc., a US-based semiconductor company, launched the world's first 'Single-pair Power over Ethernet (SPoE) Power Sourcing Equipment (PSE) and Power Device (PD) solutions' for applications such as smart buildings and factory automation. These solutions provide real-time power management, telemetry, minimal standby power consumption, and simplified installation, enabling powered last-mile connectivity for factory and building automation. Analog Devices' new SPoE solutions address the issues of powering and connecting devices, especially in remote, difficult-to-access endpoint locations. Analog Devices' solutions are designed to enable new families of endpoint applications to be easily powered and accessed across the network, as well as to monitor local elements such as asset health, environmental conditions, security metrics, and more.
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Major Key Players of the Market:
Siemens AG, Broadcom Inc., Würth Elektronik, Texas Instruments, TE Connectivity Ltd., Infineon Technologies, Amphenol CS, Analog Devices Inc., Nexans S.A., CommScope Holding Company Inc., Microchip Technology Inc., Leoni AG, Phoenix Contact Pvt. Ltd., Molex LLC, Belden Inc., Lapp Group, Rosenberger Group, HIROSE ELECTRIC CO. LTD., Panduit, Harting Technology Group, Bel Fuse Inc., Siemon, L-com, Softing Industrial Automation, Alpha Wire, Metz Connect GmbH, Weidmuller Interface GmbH and Co. Kg, Lumberg Automation
Single Pair Ethernet Market 2024 Key Insights:
• The single pair ethernet market size is expected to see rapid growth in the next few years. It will grow to $5.20 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
• Rapid Adoption Of Industrial Robots Fuels The Single Pair Ethernet Market Growth
• Innovative Product Development Driving Competition In The Single-Pair Ethernet Market
• Asia-Pacific was the largest region in the single pair ethernet market in 2023
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