Industrial Ethernet Switch Market Worth US$ 5,609.64 Mn By 2030, Says Reports Insights

                                                                                                            New York, May 29, 2023 (GLOBE NEWSWIRE) 

    According to the research report Global Industrial Ethernet Switch Market published by Reports Insights, the market achieved a value of USD 3,257.87 Million in 2022. With a projected CAGR of 7.3%, the market is expected to surpass USD 5,609.64 Million by 2030. The growth of the industrial Ethernet switch market can be attributed to the increasing adoption of industrial automation and the demand for reliable and secure communication networks in industries such as manufacturing, oil and gas, and transportation. 

    Industrial ethernet switches are primarily designed to offer high-speed and robust data transmission for utilization in industrial networks and settings. Several types of industrial switches such as managed switches, unmanaged switches, and others are mainly employed in aerospace & defense, food & beverage, oil & gas, automotive, and other industries. The market for industrial ethernet switches is highly competitive, with a large number of players offering a wide range of products. The market is projected to continue to grow in the coming years, driven by the increasing demand for industrial ethernet switch in aerospace & defense, oil & gas, and automotive industries, among others. 

    The increasing utilization of industrial ethernet switches in the aerospace & defense sector is one of the key factors driving the market growth. Industrial ethernet switches are deployed in the aerospace & defense sector for utilization in commercial aircraft, unmanned aerial vehicles, helicopters, and others. The features of industrial ethernet switches including high reliability, interoperability, high speed, and efficient communication in harsh conditions are prime aspects increasing its utilization in the aerospace and defense sector. For instance, Airbus delivered a total of 611 commercial aircraft in 2021, an increase of around 8% in contrast to 2020. Thus, the rising aircraft production is driving the adoption of industrial ethernet switches, owing to their aforementioned features, in turn proliferating the market growth.

    It can be seen from this that the development momentum of industrial switches is obvious. In the future, industrial switches will lead the trend of the new generation.