Press release
IoT Revolution Fueling Growth In The Industrial Ethernet Switch Market: A Key Factor Shaping the Future of the Industrial Ethernet Switch Market in 2025
Industrial Ethernet Switch Market Size
The rising use of Industrial Internet of Things (IoT) is foreseen to drive the expansion of the industrial ethernet switch market. Industrial IoT (IIoT), an extension and use of IoT in industry-specific applications, is gaining momentum. Industrial ethernet switches that offer high-bandwidth or high-density industrial networking IoT solutions are integral to business and industrial networks worldwide. As an example, a report by Sweden-based telecommunications firm Ericsson in September 2022 highlights that nearly 60% of cellular IoT connections will likely be broadband IoT by the end of 2028, mainly connected through 4G. In 2022, worldwide IoT connections stood at 13.2 billion, and this is projected to reach 34.7 billion connections by 2028, revealing an 18% growth rate. As such, the escalating adoption of Industrial IoT is the key driver for the industrial ethernet switch market.
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What is the projected compound annual growth rate (CAGR) of the industrial ethernet switch market from 2025 to 2034, and what factors influence it?
Over the past few years, the market size for industrial ethernet switches has significantly expanded. Projected growth indicates a leap from $2.94 billion in 2024 to $3.11 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. The surge experienced in the historical period was a result of automation in the manufacturing industry and the emergence of Industry 4.
The size of the industrial ethernet switch market is predicted to significantly increase over the coming years, reaching $4.25 billion in 2029 with a compound annual growth rate (CAGR) of 8.1%. This predicted expansion during the forecast period can be accredited to the integration with 5G networks, the swift growth of edge computing, rising concerns about cybersecurity, advancement in remote monitoring and maintenance, and the ongoing development of IIoT. Significant trends during the forecasted period encompass the integration of time-sensitive networking (TSN), transition to gigabit and 10-gigabit ethernet, advanced security provisions, resilience in extreme environments, and remote administration and monitoring.
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How are the latest trends influencing the growth of the industrial ethernet switch market?
Product innovation has emerged as a primary trend that is getting traction in the industrial ethernet switch sector. Prominent companies in this market are focusing on creating sophisticated products in order to maintain their market share. To illustrate, Westermo, an industrial data communications products firm based in Sweden, unveiled a 10-gigabit industrial Ethernet switch in May 2022. This product was engineered to keep up with the increasing requirements for bandwidth, thereby enabling modern, large-scale data communication networks to transmit an unprecedented amount of data. Featuring the WeOS operating system, this product guarantees uninterrupted operation and support for a growing list of protocols and features, thereby simplifying installation, operation, and maintenance, while simultaneously reducing complexity.
What are the major segments of the industrial ethernet switch market and their role in driving growth?
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
Subsegments:
1) By Managed Industrial Ethernet Switches: Layer 2 Managed Switches, Layer 3 Managed Switches, PoE (Power Over Ethernet) Managed Switches, Rack-Mount Managed Switches
2) By Unmanaged Industrial Ethernet Switches: Standard Unmanaged Switches, Compact Unmanaged Switches, DIN Rail Unmanaged Switches
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Which regions are key players in the growth of the industrial ethernet switch market?
Asia-Pacific was the largest region in the global industrial ethernet switches market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial ethernet switch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the industrial ethernet switch market?
Major companies operating 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., Hirschmann (a Belden brand), Extreme Networks Inc., Allied Telesis Inc., Moxa Inc., Beckhoff Automation GmbH & Co. KG, 3onedata Co., Korenix Technology Co. Ltd., Weidmüller, Westermo Network Technologies, B&R Industrial Automation GmbH, Harting Technologiegruppe
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What Is Covered In The Industrial Ethernet Switch Global Market Report?
•Market Size Forecast: Examine the industrial ethernet switch market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the industrial ethernet switch market for a structured understanding.
•Key Players Overview: Analyze major players in the industrial ethernet switch market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the industrial ethernet switch market.
•Segment Contributions: Evaluate how different segments drive overall growth in the industrial ethernet switch market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the industrial ethernet switch market.
•Industry Challenges: Identify potential risks and obstacles affecting the industrial ethernet switch market.
•Competitive Landscape: Review strategic developments in the industrial ethernet switch market, including expansions, agreements, and new product launches.
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