Pune, India, September, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Power over Ethernet Market Research Report.
The global industrial Ethernet switch market is expected to scale USD 2.0 Billion valuation during the review period (2017-2023), asserts Market Research Future (MRFR). The promising CAGR of 14% which the market is expecting to witness is due to the adoption of industrial automation and rising security concerns over the network. Realizing the benefits of ethernet as a networking solution, various industries are porting from the conventional architecture to the industrial ethernet which is paving the way for market expansion. Moreover, industrial ethernet switches help in standardization and consolidation of manufacturing networks.
Improvement of data center capabilities is a driving force behind the growth of the global industrial ethernet switch market. Growing dependency of organizations on data centers, need for automatic switching device along with demand for high-speed data services augment the demand for industrial ethernet switches. Moreover, industrial ethernet switches cater to the manifold requirements of industrial communication networks. Industrial ethernet switches are used for surveillance and security purposes in combination with power over ethernet technology which also helps to boost the market growth. However, the growth of the market is likely to be hindered by the high cost associated with installation and lack of expertise. The emergence of PoE (Power over Ethernet) switches is expected to provide lucrative opportunities for market expansion.
The global industrial ethernet switch market has been segmented based on type, application areas, organization size, and end users. By type, the market has been segmented into managed switches and unmanaged switches. By application, the market has been segmented into smart grid, security & surveillance, intelligent rail & traffic communication, and others. By organization size, the market has been segmented into SME and large enterprises. By end users, the market has been segmented into aerospace & Defense, oil & gas, food & beverages, manufacturing, automotive, chemical, electrical power generation, and others.
The global industrial ethernet switch market spans across the regions of North America, Europe, Asia Pacific, and Rest of the world. North America is leading the global market for industrial ethernet switch and is expected to maintain its dominance over the forecast period. Industrial ethernet switches find application in various stages of industrial processes such as (Supervisory control and data acquisition) integration and PLC (Programmable Logic Control) communication. The presence of large industries in North America results in increased demand for industrial ethernet switches in the region. Moreover, the growth of fiber optics is fuelling the growth of the market in North America.
Some of the eminent players operating in the global industrial ethernet switch market include Cisco Systems Inc. (U.S.), Alcatel-Lucent (France), Polycom (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Siemens AG (Germany), ZTE Corporation (China), Juniper Networks, Inc. (U.S.), Hewlett Packard Enterprise (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Siemens AG (Germany), and others.