LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global unmanaged industrial Ethernet switches market to grow at a CAGR of over 6% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global unmanaged industrial Ethernet switches market for 2017-2021. To determine the market size, the study considers revenue generated from the sales and aftermarket services of unmanaged industrial Ethernet switches in the process and discrete industries.
By end-users, the research report categorizes the global unmanaged industrial Ethernet switches market into discrete industries and process industries. The discrete industries segment accounts for over 67% of the global market, with the automotive industry, electronics and semiconductor industry, and industrial machinery creating the maximum demand.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global unmanaged industrial Ethernet switches market:
- Rise in implementation of embedded Ethernet switches
- Increased acceptance of Ethernet in the process automation sector
- Growth in industrial Internet of Things (IIoT)
Rise in implementation of embedded Ethernet switches
Bharath Kanniappan, one of the lead analysts at Technavio for automation research speaks about the design specifications of Ethernet switches, which is driving their increasing implementation. He says, “Embedded Ethernet switches are designed to be accommodated within the main board of an automation component. These new Ethernet switches decrease the time taken for an automation equipment manufacturer to transform an in-production design into a state-of-the-art Ethernet-enabled product.”
The miniaturization trend is likely to have a positive impact on the unmanaged industrial Ethernet switch market as it will result in reduced manufacturing costs for embedding these switches into automation equipment.
Increased acceptance of Ethernet in the process automation sector
Many applications in the process automation sector require redundant structures, where reaction and switching times of less than 100 milliseconds are required. With the rise in high-speed Ethernet variants such as EtherCAT, which can provide switching values of less than 100-500 milliseconds, and is proving to be a perfect fit for use in the process automation industry. With advances in technology, components such as cables, connectors, hubs, and switches are turning out to be more robust and durable, which makes them suitable for use in chemicals, oil and gas, and pharmaceutical industries.
Growth in industrial Internet of Things (IIoT)
“Industrial Internet of Things is a network of devices supported by sensors, industrial equipment, big data analytics, and cloud infrastructure. Manufacturers recognize the advantages provided by open networks such as Ethernet, which is driving its adoption in the industrial sector,” says Bharath.
IIoT technology is increasingly being adopted into existing sites and across field equipment in the form of upgrades and retrofits. IIoT is enabled with Ethernet-based devices, which paves the way for smart factories with up to 10% increase in throughput, 20% increase in productivity at the machine level, and 10% reduction in inventory. The rapid adoption of Ethernet in industrial applications will drive market growth during the forecast period.
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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