Application Of Power over Ethernet (PoE) Technology In The Switching Equipment Market
Power over Ethernet (PoE) technology is gaining importance in the switching equipment market, thus emerging as a major trend for network switches. PoE switches are becoming common because they reduce clutter and can be added to both smart and managed switches. PoE technology also has the ability to combine the networking and electrical power into one cable, and provide data connection and electrical power to the powered devices. PoE installation can provide many benefits such as flexibility, reliability, and cost-efficiency. For instance, there is no need for the users to purchase and install additional electrical wires and outlets for PoE network switches, and this saves installation and maintenance costs.
The switching equipment market consists of sales of switching equipment and related services. Switching equipment refers to a device that opens and closes electric circuits in general. These are used to build connections between nodes within a network. Information is shared on establishing of a connection between nodes. The switching equipment industry includes establishments that manufacture switching equipment including circuit breakers, contactors, switch disconnectors, and disconnectors.
The global switching equipment market was worth $191.93 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 7.36% and reach $255.02 billion by 2023.
The increase in the popularity of Internet of Things (IoT) devices among the populace is driving the switching equipment market. IoT is becoming popular as a greater number of people are using smart devices and are mostly working on their errands, office work, communication, sending/receiving messages using smart devices, thus overwriting the traditional way. For instance, in 2017, Cisco launched a new network switch that can be linked up to IoT devices, such as lights and CCTV, to make smart buildings. The rising demand for IoT enabled devices drives the market for switching equipment. The switching equipment market is segmented by end user into small enterprises, medium enterprises, and large enterprises. By end-use industry, it is segmented into automotive, healthcare, and telecommunications. By application, the market is segmented into enterprise and industrial usage, telecommunication providers, servers and storage providers.
Key players in the global switching equipment market include ADVA, Ciena Corporation, Ericsson, Huawei Technologies, Alcatel-Lucent, ZTE, Infinera Corporation, Fujitsu Limited, ECI Telecom Ltd, Cisco Systems, Inc, Tellabs, Inc, ADTRAN Inc, Aliathon Technology Ltd., NEC Corporation, Huawei Technologies, Nokia Siemens, Cyan, Ekinops, JDS Uniphase Corporation, and BTI.