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Industrial Ethernet Switch Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Global Industrial Ethernet Switch Market Forecast To Reach $3.88 Billion By 2028 With 6.5% Annual Growth
It will grow to $3.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.” - The Business Research Company
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The industrial Ethernet switch market has seen robust growth in recent years, projected to increase from $2.8 billion in 2023 to $3.01 billion in 2024, representing a compound annual growth rate (CAGR) of 7.3%. The growth observed in the past can be attributed to factors such as automation in manufacturing, the rise of Industry 4.0, an increasing demand for high-speed data transmission, greater adoption of Ethernet-based protocols, and the need for reliable and robust networking solutions.
What Is the Anticipated Growth Rate and Market Size of the Global Industrial Ethernet Switch Market?
The industrial Ethernet switch market is anticipated to experience significant growth in the coming years, projected to reach $3.88 billion by 2028, with a compound annual growth rate (CAGR) of 6.5%. The expected growth during the forecast period is driven by factors such as integration with 5G networks, the rapid expansion of edge computing, rising cybersecurity concerns, increased remote monitoring and maintenance, and ongoing expansion of the Industrial Internet of Things (IIoT).
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What Is The Primary Growth Driver Of The Industrial Ethernet Switch Market?
The increasing adoption of the Industrial Internet of Things (IIoT) is expected to drive the growth of the industrial Ethernet switch market in the future. IIoT represents the extension and application of the Internet of Things (IoT) within industrial sectors and applications. Industrial Ethernet switches play a crucial role in this ecosystem by providing high-bandwidth and high-density networking solutions, making them essential components for business and industrial networks globally.
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Which Market Leaders Are Behind the Growth of the Industrial Ethernet Switch Market?
Key players in the industrial ethernet switch market include Microsoft Corporation, Dell Technologies Inc., Huawei Technologies Co. Ltd., Hikvision Digital Technology Co. Ltd., Siemens Ag, International Business Machines Corporation, Cisco Systems Inc., Schneider Electric SE, ABB Ltd., Hewlett Packard Enterprise Company, Rockwell Automation Inc., Omron Corp., Juniper Networks Inc., Arista Networks Inc., Phoenix Contact GmbH & Co. KG, Avaya Inc., Hirschmann (a Belden brand), Belden Inc., Advantech Co. Ltd., Polycom Inc., Alcatel-Lucent S.A, Extreme Networks Inc.
What Key Trends Are Impacting The Size Of The Industrial Ethernet Switch Market?
Key players in the industrial Ethernet switch market are engaging in strategic collaborations to develop crypto-secure switches, aiming to strengthen their market position. These collaborations are vital for advancing technologies, broadening market reach, mitigating risks, and facilitating successful development and integration within the larger energy landscape.
How Is The Global Industrial Ethernet Switch Market 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
Regional Insights: Asia-Pacific Paving the Way in the Industrial Ethernet Switch Market
Asia-Pacific was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Industrial Ethernet Switch Market?
An industrial Ethernet switch is a networking device tailored for industrial settings, enabling reliable and efficient communication among various devices and systems. It connects devices to a local area network (LAN), facilitating connections for laptops, computers, servers, printers, and routers.
The Industrial Ethernet Switch Global Market Report 2024 from The Business Research Company includes the following key information:
. Market size data for both historical and future periods
. Analysis of both macro and microeconomic factors that have impacted the market over the past five years
. Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
. Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Industrial Ethernet Switch Market Report: Trends, Opportunities, Strategies, and More
The Industrial Ethernet Switch Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into industrial ethernet switch market size , industrial ethernet switch market drivers and trends, industrial ethernet switch competitors' revenues, and industrial ethernet switch market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
+44 20 7193 0708
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