Industrial Ethernet Switch Market to Hit US$ 5,499.34 Million By 2030 | A Comprehensive Analysis

New York, Aug. 09, 2023 (GLOBE NEWSWIRE) -- According to the research report “Global Industrial Ethernet Switch Market” published by Consegic Business Intelligence, the market was sized at USD 3,183.81 million in 2022 and is expected to reach over USD 5,499.34 million by the year 2030, growing at a CAGR of 7.2%.

An industrial Ethernet switch is a specialized networking device designed to facilitate reliable and efficient communication within industrial environments. The switch serves as a central hub that connects multiple devices and systems including PLCs (Programmable Logic Controllers), HMI (Human Machine Interfaces), sensors, and actuators, through Ethernet connections. Additionally, industrial ethernet switches are built to withstand harsh conditions including extreme temperatures, vibrations, and electrical noise, found in industrial settings.

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The increasing adoption of industrial ethernet switches to provide to offer high-speed internet connectivity serves as the major factor driving the growth of the industrial Ethernet switch market. Additionally, the ability of the switches to withstand harsh environmental conditions and elevated temperatures in industries is further contributing to market growth. Moreover, the emergence of advanced technology namely SW-Ring improves data transmission efficiency, hence contributing remarkably in accelerating the market growth. For instance, in July 2020, 3onedata Co., Ltd. launched three series of unmanaged industrial switches and four series of managed industrial switches with advanced SW-Ring technology. The switches are designed to withstand a diverse range of temperatures of about -40~75℃, thus contributing significantly propelling the market growth.

Moreover, the expansion of the 5G network infrastructure is projected to create potential opportunities for market growth. Industrial Ethernet switches play a crucial role in providing the required connectivity and throughput for 5G networks, hence becoming an essential component of the infrastructure. However, the high manufacturing and maintenance cost of Industrial Ethernet switches is hindering the market growth.

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Industrial Ethernet Switch Market Growth Drivers:

• Increasing adoption of Industrial Internet of Things (IIoT) technology is driving the growth of the industrial Ethernet switch market to provide high bandwidth and reliable connectivity.
• Increasing demand for high-speed and reliable connectivity in industrial settings is bolstering the growth of the industrial Ethernet switch market.
• Rising demand for industrial Ethernet switch to provide high-bandwidth communication between different devices and systems within a substation is propelling the market growth.

Restraints

• High cost of manufacturing and maintenance of industrial ethernet switches is hindering the market growth.
• Short lifecycle of the built-in fans in industrial ethernet switches is restraining the market growth.

Opportunities

• Expanding 5G network infrastructure is anticipated to create potential opportunities for market growth.

Global Industrial Ethernet switch Market Segmentation Details:

Based on Type, the unmanaged industrial ethernet switches segment contributed the largest shares to the market growth in 2022 as the switches are easy to use and require no configuration and management. Additionally, unmanaged switches are plug-and-play devices, allowing users to simply connect the devices and immediately start using the network. Moreover, unmanaged industrial ethernet switches are more cost-effective in comparison to other fixed configuration industrial Ethernet switches, further driving the market growth. Furthermore, the switches have the ability to withstand harsh environmental conditions and are manufactured using corrosion-resistant material, thus contributing considerably in boosting the growth of the unmanaged industrial Ethernet switch segment.

Based on Enterprise Size, the large enterprise segment offered substantial shares to the market in the year 2022 as large enterprises have extensive operations with multiple sites, production facilities, and distributed networks. The enterprises require robust and scalable network infrastructure to connect various devices and systems across different locations. Industrial Ethernet switches provide the necessary connectivity and management capabilities to support complex networks, thus contributing notably in driving the growth of large enterprise segment. Additionally, managed switches provide advanced features including remote configuration, monitoring, and control, enabling efficient network management across multiple locations. Centralized management simplifies network administration and reduces the complexity associated with managing large-scale networks, hence promoting the growth of large enterprise segment.

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Based on Application, security & surveillance holds the largest market share in 2022 as video surveillance systems are employed in various industries including commercial, residential, transportation, and public safety. The systems require reliable and high-bandwidth networks to transmit and manage large volumes of video data. Industrial Ethernet switches offer the necessary connectivity and bandwidth to handle the demands of video surveillance, thus becoming essential components of security infrastructure. Additionally, industrial ethernet switches are designed to withstand harsh environmental conditions, temperature variations, and electromagnetic interference. The switches provide features namely redundant power supplies, fault tolerance mechanisms, and network redundancy protocols, ensuring continuous operation and minimal downtime.

Based on End-User, the manufacturing segment offered substantial shares to the global industrial Ethernet switch market in the year 2022 as the switches enable seamless communication and data exchange between programmable logic controllers and other automation devices. Additionally, the switches also support real-time data transfer, ensuring efficient control and monitoring of manufacturing processes. Moreover, in manufacturing environments, multiple machines and devices need to communicate with each other for coordinated operation and process optimization. Industrial Ethernet switches facilitate machine-to-machine communication by providing reliable and high-bandwidth connectivity, allowing for real-time data exchange and coordination between machines.

Based on Region, North America has been a major contributor to the growth of the industrial Ethernet switch market. The growth is attributed to the expanding manufacturing sector that drives the demand for industrial ethernet switches to provide real-time data transfer, ensuring efficient control and monitoring of manufacturing processes. Additionally, the presence of numerous large enterprises with extensive networking needs requires high-performance and scalable networking solutions, including industrial ethernet switches to support the operations. Consequently, the expanding manufacturing sector and the presence of key players are the major factors responsible for driving the growth of the industrial Ethernet switch market in the region.

Recent Developments

• In January 2020, NXP Semiconductors N.V. introduced NXP SJA1110, a multi-gigabit Industrial Ethernet switch to enable automakers to provide the high-speed networks required for evolving connected vehicles.

Key Market Highlights

• Globally, the industrial Ethernet switch market is divided based on the type into managed and unmanaged.
• In the context of enterprise size, the market is separated into large enterprise and small-medium enterprise.
• The application segment is trifurcated into smart grid, intelligent rail and traffic, and security & surveillance.
• The end-user segment is classified into electric and power, manufacturing, aerospace and defense, automotive, oil and gas, and others.
• The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
• Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in industrial Ethernet switches.

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List of Major Global Industrial Ethernet Switch Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

• Advantech Co., Ltd.
• NXP Semiconductors N.V.
• Alcatel-Lucent
• Allied Telesis
• Brocade Communications Systems, Inc.
• Brainboxes Limited
• Cisco Systems Inc.
• Dell Technologies
• D-Link Corporation
• Leonton Technologies Co., Ltd.
• Eaton Corporation
• Hewlett-Pack Corporation
• Honeywell International
• Huawei Technologies
• Siemens SE
• 3onedata Co., Ltd.

Global Industrial Ethernet Switch Market Segmentation: 

• By Type
  • Managed
  • Unmanaged
• By Enterprise Size
  • Large Enterprise
  • Small-medium Enterprise
• By Application
  • Smart Grid
  • Intelligent Rail and Traffic
  • Security & Surveillance
• By End-User
  • Electric and Power
  • Manufacturing
  • Aerospace and Defense
  • Automotive
  • Oil and Gas
  • Others

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Key Questions Covered in the Industrial Ethernet Switch Market Report

• What will be the potential market valuation for the Industrial Ethernet switch market by 2030?

- The market valuation for the industrial Ethernet switch market is expected to be approximately USD 5,499.34 million by 2030 owing to the increasing demand to provide high-speed and reliable connectivity in industrial settings.

• Based on current market trends and future predictions, which geographical region will have the largest impact on the industrial Ethernet switch market's growth in the coming years?

- Asia Pacific is anticipated to witness the fastest CAGR during the forecast period due to the increasing investment by the government for the development of smart cities.

• What specific segmentation details are covered in the industrial Ethernet switch market report, and how is the dominating segment impacting the market growth?

- The manufacturing sector dominates the market in 2022 as industrial ethernet switches are utilized in industrial automation. The switches enable seamless communication and data exchange between programmable logic controllers (PLCs), human-machine interfaces (HMIs), sensors, and other automation devices.

• What specific segmentation details are covered in the industrial Ethernet switch market report, and how is the fastest segment anticipated to impact the market growth?

- Small-medium enterprises will emerge as the fastest segment owing to the increasing adoption of industrial automation by small-medium enterprises to improve operational efficiency. Industrial Ethernet switches play a vital role in enabling connectivity and communication between automated systems, machines, and devices.

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