Market Research Future published a research report on “Industrial Ethernet Switch Market Research Report- Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
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.
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The industrial Ethernet switch market has been segmented on the basis of application areas, type, organization size, and end-users.
Some of the key players in the market are Cisco Systems Inc. (U.S.), Juniper Networks, Inc. (U.S.), Alcatel-Lucent (France), Hewlett Packard Enterprise (U.S.), Polycom (U.S.), Avaya Inc. (U.S.), Microsoft Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), IBM Corporation (U.S.), Brocade Communications Systems, Inc. (U.S.), Siemens AG (Germany), Huawei Technologies Co., Ltd (China), and ZTE Corporation (China), among others.
Geographically, the industrial Ethernet switch market spans across Europe, North America, Asia Pacific, and Rest of the World (RoW).
Considering the global scenario, Asia Pacific is predicted to dominate the global industrial Ethernet switch market. Deployment of industrial Ethernet among industries in several stages like PLC communication and SCADA integration is likely to augment the regional market. The usage of optical fibers along with the growth in fiber optics in telecommunications is estimated to encourage the market growth in the region. Large scale automation in emerging countries like China and India is predicted to contribute to the market growth.
North America is anticipated to acquire a significant share in the global market, mainly due to the existence of large manufacturing industries, deployment of data centers and the requirement for components assisting data centers, and implementation of smart grids. High automation in industries in North America is likely to augment the market growth in the coming years.
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