DUBLIN--(BUSINESS WIRE)--The "Single Pair Ethernet Market Forecast to 2028 - COVID-19 Impact and Global Analysis - Type and Application" report has been added to ResearchAndMarkets.com's offering.
Single Pair Ethernet market is expected to grow from US$ 1,901.37 million in 2021 to US$ 3,602.17 million by 2028; it is estimated to grow at a CAGR of 9.6% from 2021 to 2028.
SPE (Single Pair Ethernet) is considered as a backbone for the Industrial Internet of Things (IIoT) based applications and industry 4.0. Modern equipment, machines, and systems perform complex tasks that encourage manufacturers to deploy a strong & reliable data network system to give a steady and constant flow of information to or from their devices, equipment, machines, and systems.
Through a strong communication network, smart devices can seamlessly offer reliable data to or from their source and assist field service technicians engineering plant managers to make real-time decisions. "SPE is a technology in which manufacturers and different end users are paving the path of the future success of IIoT. As technology is getting improvised, manufacturers present globally are seeking forward to integrate smart manufacturing, industrial factory automation, and machine learning in the business models and activities.
The global single pair ethernet market manufacturing sector is rapidly expanding, with many regions investing in manufacturing plants in their localities. As per the Global Manufacturing Risk Index (MRI) 2020: China, the US, Japan, Germany, and India are the prominent countries in this sector. The COVID-19 pandemic adversely affected all countries.
In addition to industrial advancements in emerging economies, governments are striving to expand the single pair ethernet market manufacturing sector in their respective countries. AI, 3D printing, and robots are the most prevailing technologies in the manufacturing sector. Moreover, Canada, Japan, Germany, Australia, Switzerland, and Austria are other countries leading in the industry 4.0 revolution.
Pertaining to the fact that single pair Ethernet cables are getting used widely, the single pair Ethernet market growth is projected to remain high. However, Ethernet has a few shortcomings that cause obstacles in its adoption. Disadvantages of Ethernet include poor security, low durability, ease to tap, high attenuation, thin and can easily break down, and susceptibility to electromagnetic interference.
Due to the challenges described above, the adoption of Ethernet witnesses hindrance from end users. Additionally, single pair ethernet provides a nondeterministic service and is not appropriate for traffic-intensive purposes. In situations where the traffic rate is high on single pair ethernet, the efficiency of single pair ethernet lowers. Such cons may decrease the hold of Ethernet for real-time applications as it needs deterministic service. Thus, the factors mentioned above are restraining the single pair ethernet market growth.
The single pair ethernet market is segmented on the basis of offering and type. Based on type, the infrastructure & device components held a larger share as single pair ethernet market is becoming prevalent in manufacturing industries globally. For higher demand for IIoT based applications, automation, and industrial communication, the demand for infrastructure and device components used in single pair ethernet market is increasing.
Based on application the single pair ethernet market is segmented into robotics & automation hold a dominant single pair ethernet market share in the market owing to increasing internet access and Industry 4.0.
Analog Devices, Inc.; Belden Inc.; HARTING Technology Group; LAPP Group; LEONI AG; PHOENIX CONTACT; Siemon; TE Connectivity; Wiedmuller Interface GmbH & Co. KG; and Wurth Elektronik GmbH & Co. KG are a few key players that were profiled during this single pair ethernet market study.
In addition to these players, several other important single pair ethernet market players were studied and analyzed during this single pair ethernet market research study to get a holistic view of the global single pair ethernet market and its ecosystem.
Key Market Dynamics
Market Drivers
- Surging demand for IIoT in Industrial Automation
- Growing Demand for Manufacturing Industries
Market Restraints
- Shortcoming of Ethernet Create Hindrance
Market Opportunities
- Rising Demand for Robots and Smart Devices
- Rising Revolution in Smart Factories
Future Trends
- Rising Emergence of Miniaturized Electronic Components
Company Profiles
- Analog Devices, Inc.
- Belden Inc.
- Harting Technology Group
- Lapp Group
- Leoni
- Phoenix Contact India Pvt. Ltd.
- Siemon
- Te Connectivity Ltd.
- Weidmuller Interface GmbH and Co. Kg
- Wurth Elektronik
For more information about this report visit https://www.researchandmarkets.com/r/wqxrqg
