Industrial Ethernet Switch Global Market Report 2023
Aug 28, 2023
Major players in the industrial ethernet switch market are Arista Networks Inc., Cisco Systems Inc., Belden Inc., Siemens Ag, Huawei Technologies Co. Ltd., Hewlett Packard Enterprise Company, Juniper Networks Inc.
New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Ethernet Switch Global Market Report 2023" - https://www.reportlinker.com/p06486613/?utm_source=GNW , Microsoft Corporation, Alcatel-Lucent S.A, Brocade Communication Systems Inc., Polycom Inc., Avaya Inc., International Business Machines Corporation, Rockwell Automation Inc., and Omron Corp.The global industrial ethernet switches market is expected to grow from $2.6 billion in 2022 to $2.8 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The industrial ethernet switches market is expected to reach $3.62 billion in 2027 at a CAGR of 6.6%.The industrial ethernet switch market consists of sales of fiber cables, and electrical chips.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.An industrial ethernet switch is a networking device specifically designed for use in industrial environments to facilitate reliable and efficient communication between various devices and systems. It is used to connect devices to a LAN or local area network, such as laptops, computers, servers, printers, and routers.Asia-Pacific was the largest region in the XX market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in industrial ethernet switch report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of industrial ethernet switches are managed industrial ethernet switches and unmanaged industrial ethernet switches.Managed industrial ethernet switches refer to managed network switches specifically designed for industrial use.They are used in various applications such as smart grids, security and surveillance, and intelligent rail and traffic. They are utilized in various industrial sectors such as manufacturing, electric and power, aerospace and defense, automotive and transportation, oil and gas, and others.The growing adoption of the industrial Internet of Things (IoT) is expected to propel the growth of the industrial ethernet switch market going forward.The industrial Internet of Things (IIoT) is the expansion and application of the Internet of Things (IoT) in industrial sectors and applications.Industrial Ethernet switches, which provide high-bandwidth or high-density industrial networking IoT solutions, are useful components for business and industrial networks all over the world.For instance, in September 2022, according to a report published by Ericsson, a Sweden-based telecommunications company, nearly 60% of cellular IoT connections are expected to be broadband IoT by the end of 2028, with 4G connecting the majority.Globally, there were 13.2 billion IoT connections in 2022, increasing to 34.7 billion connections predicted by 2028, indicating an 18% growth rate. Therefore, the increasing adoption of the industrial Internet of Things is driving the industrial ethernet switch market.Product innovations are a key trend gaining popularity in the industrial ethernet switch.Major companies in the industrial ethernet switch market are developing advanced products to sustain their position in the market.For instance, in May 2022, Westermo, a Sweden-based industrial data communications products manufacturer, launched a 10-gigabit industrial Ethernet switch.This was designed to accommodate growing bandwidth demands, allowing contemporary, large-scale data communication networks to transport more data than ever before.The product offers the WeOS operating system, which assures continuous operation and support for an expanding range of protocols and features while streamlining installation, operation, and maintenance, contributing to the reduction of complexity.In October 2021, Marvell Technology, Inc., a US-based company that manufactures semiconductors, acquired Innovium Inc. for an undisclosed sum. With this acquisition, Marvell strengthened its cloud expertise and enabled it to instantly engage in the switch market’s fastest-growing sector with a cloud-optimized solution. Innovium Inc. is a US-based company that develops ethernet switch systems for cloud and edge data centers.The countries covered in the industrial ethernet switch market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The industrial ethernet switch market research report is one of a series of new reports that provides industrial ethernet switch market statistics, including industrial ethernet switch industry global market size, regional shares, competitors with an industrial ethernet switch market share, detailed industrial ethernet switch market segments, market trends, and opportunities, and any further data you may need to thrive in the industrial ethernet switch industry. This industrial ethernet switch market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06486613/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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