North America Industrial Switching Hub Market Size Expected to Reach $6.5 Billion by 2026
Increasing Demand for the Time Synchronization Between the Equipment Used in the Industrial Automation Will Also Drive the Industrial Switching Hub Market.
Hyderabad, India – July 23, 2021 /MarketersMedia/ —
North America Industrial Switching Hub Market is expected to reach $6.5 billion by 2026 at a CAGR of 16.2% during the forecast period 2021-2026. The major growth drivers of the Industrial Switching Hub is rise in demand from corporate, as corporate use switches such as ethernet switch, poe switch, industrial ethernet switch and hubs to connect networking devices, growing demand for cloud storage, increased use data centers, and increase in demand of high bandwidth. In addition, increased digital data traffic over the existing network, rising adoption of industry 4.0 and growing adoption of factory automation predominantly in the manufacturing sector is set to improve the efficiency of production processes and supply chain. These factors are driving the growth of the North America industrial Switching Hub market size in the forecast period 2021-2026.
North America Industrial Switching Hub Market Segment Analysis- By Network
Ethernet is anticipated to grow at a CAGR of 19.6% during the forecast period. The rapidly growing adoption of Industrial IoT (IIoT) predominantly among the manufacturing and automotive sectors is set to improve the efficiency of production processes and supply chain driving the growth of the industrial Ethernet market. Supportive government initiatives and hefty investments to extensively convert traditional grids into smart grids are resulting in the proliferation of the market. In 2020, major company, Midwest Utility announced plans to invest $7.6 Billion in Smart Grid Technology and Renewables Large-scale.
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North America Industrial Switching Hub Market Segment Analysis- By Application
North America Industrial Switching Hub market in data centres is expected to grow at a CAGR of 20.4% in the forecast period 2021-2026. The operations of these data centre depend upon the technology, computers and networking. As more and more users are connected to the networks the problems related to speed in transferring and retrieving data will also increase as the bandwidth has to be divided among the users connected through various access points. Hence with these advantages several companies have adopted industrial switching hubs. In addition to this rise in investments, expansions related to data centres also creates an enormous opportunities for industrial switching hub. In 2019, Microsoft announced an investment of more than $1.1 billion for expansion of its presence in Mexico.
North America Industrial Switching Hub Market Segment Analysis- By Geography
In 2020, U.S dominated the Industrial Switching Hub market share of more than 68%. Owing to increased adoption of high bandwidth network, usage in data centers and so on are driving the Industrial Switching Hub in the region. The demand for Industrial Switching Hub market has risen dramatically over the past 12 months in the region due to expansion of data centers. In 2019, Google has committed to invest more than $10 billion for the expansion of its data centers in 11 states. Use of Industrial Switching Hub and Access Point in various industries in these regions are pushing the growth of Industrial Switching Hub and Access Point market.
North America Industrial Switching Hub Market Drivers
Growing demand for switching hubs in data centres
Increasing investments towards the construction of data centres will be one of the primary factors that will drive market for Industrial Switching hub in this region. The growing demand for cloud computing will also drive the demand for data centres. In 2020 Microsoft has announced plans to invest more than $1.1 billion for the expansion of its data centres in Mexico. Similarly, several key vendors have already entered into agreements to set up and expand their market operations. As switching hub is used for several applications such as detecting broadcast storm and improving network reliability in data centres. Hence the growing investments towards data centre construction will drive market growth in the forecast period 2021-2026.
Emergence of new technologies
The emergence of Big data storage, and streaming media applications have affected behavior on the network which now requires larger bandwidth for buffering. As switching hubs are the devices manufactured to meet these requirements, hence these emerging technologies are analysed to drive the market. Similarly, increasing demand for the time synchronization between the equipment used in the industrial automation will also drive the industrial switching hub as these network devices are the main components which connect the industrial equipment on the network.
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North America Industrial Switching Hub Market Landscape
North America Industrial Switching Hub top 10 include HP, Inc, Cisco systems Inc, Huawei Technologies Co. Ltd, Juniper Inc, Alcatel-Lucent Inc, Allied Telesis Inc, Arista Networks Inc, Hirschmann Inc, Brocade Communications Systems, Inc, Schneider Electric, Inc, ECI Telecom Ltd, Oracle Corporation, Moxa, Inc among others.
Key Takeaways
North America Industrial Switching Hub market share in data centres are expected to grow at a CAGR of 20.4% in the forecast period 2021-2026. The growth is attributed to applications of detecting broadcast storm, improving network reliability and so on.
Ethernet is anticipated to grow at a CAGR of 20.5% during the forecast period. The rapidly growing adoption of Industrial IoT (IIoT) predominantly among the manufacturing and automotive sectors will improve the efficiency of production processes and supply chain. This is driving the growth of the industrial Ethernet switch market.
In 2020, U.S dominated the Industrial Switching Hub market share of more than 62%. Owing to increased adoption of high bandwidth network, usage in data centres and so on are driving the Industrial Switching Hub in the region.
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Source: MarketersMedia
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