Press release
Industrial Ethernet Switch Market: Boosted by Rising Adoption of IIoT and Noteworthy CAGR of 8.1%
Industrial Ethernet Switch Market Size
What Is The Projected Market Size Of The Global Industrial Ethernet Switch Market And Its Growth Rate?
The Industrial Ethernet Switch market is witnessing significant growth due to rapid automation and the rise of Industry 4.0. Important market statistics include:
- Market size of $2.94 billion in 2024, projected to grow to $3.11 billion in 2025, representing a CAGR of 5.7%
- Anticipated growth to $4.25 billion by 2029, garnering a CAGR of 8.1%
- This growth 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
What Is Driving The Growth In The Industrial Ethernet Switch Market?
The key growth driver for the Industrial Ethernet Switch market is the rising adoption of the industrial Internet of Things (IIoT). IIoT is pivotal in applying the Internet of Things (IoT) in various industrial sectors and applications. Industrial Ethernet switches that deliver high-bandwidth or high-density industrial networking IoT solutions are key components for businesses and industrial networks globally. For instance, a 2022 Ericsson report suggested that nearly 60% of cellular IoT connections will be broadband IoT by 2028, with 4G being the main connector.
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Who Are the Key Players Driving Industrial Ethernet Switch Market Growth?
Prominent players in the Industrial Ethernet Switch market include:
- Huawei Technologies Co. Ltd.
- Siemens AG
- Cisco Systems Inc.
- Schneider Electric SE
- ABB Ltd.
- Rockwell Automation Inc.
- Omron Corp.
- Phoenix Contact GmbH & Co. KG
- Hirschmann (a Belden brand)
- Belden Inc.
- Advantech Co. Ltd.
What Are The Key Trends In The Industrial Ethernet Switch Market?
Major trends in the Industrial Ethernet Switch market 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
What Are The Segments Of The Global Industrial Ethernet Switch Market?
The Industrial Ethernet Switch market can be segmented as follows:
- By Type: Managed Industrial Ethernet Switches, Unmanaged Industrial Ethernet Switches
- By Application: Smart Grid, Security And Surveillance, Intelligent Rail And Traffic
- By Industry Vertical: Manufacturing, Electric And Power, Aerospace And Defense, Automotive And Transportation, Oil And Gas, Other Industry Verticals
Which Region Leads The Industrial Ethernet Switch Market?
Asia-Pacific held the largest share of the global Industrial Ethernet Switch market in 2024 and is expected to remain the fastest-growing region in the forecasted period. Other regions covered in the report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Industrial Ethernet Switch Market Global Market Report?
- Market Size Analysis: Analyze the Industrial Ethernet Switch Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Industrial Ethernet Switch Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Industrial Ethernet Switch Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Industrial Ethernet Switch Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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