According to the latest market research study on “Single Pair Ethernet Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Application, and Geography,” the 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.Single Pair Ethernet Market is expected to reach US$ 3,602.17 Million by 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 Findings of Study:
North America is among the worst-hit regions by the COVID-19 pandemic. COVID-19 outbreak negatively impacted the region's manufacturing and construction businesses in four critical areas, including supply chain/operations, workforce, 2020 investments, and product offering. Furthermore, there were disruptions in the supply chain of many industries due to restrictions in logistics and the closing of manufacturing facilities. Manufacturing companies such as Fiat Chrysler, Ford, and General Motors temporarily closed down their plants in the US due to rising COVID-19 cases in the first and second quarters of 2020. Canada and Mexico also witnessed the same step by manufacturers to limit the spread of the virus.
However, in 2021, with the uplifting of lockdown restrictions and vaccination processes, the manufacturing plants started again, thereby creating a positive scenario for the single pair ethernet market growth.
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- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global single pair ethernet market
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
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| Report Attribute | Details |
|---|---|
| No. of Pages | 180 |
| Published | March 2022 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 1901.37 Million |
| Forecasted Market Value ( USD | $ 3602.17 Million |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Global |
Table of Contents
1. Introduction
3. Research Methodology
4. Single Pair Ethernet Market Landscape
5. Single Pair Ethernet Market - Key Market Dynamics
6. Single Pair Ethernet Market - Global Analysis
7. Single Pair Ethernet Market Analysis - By Type
8. Single Pair Ethernet Market Analysis - By Application
9. Single Pair Ethernet Market - Geographic Analysis
10. Single Pair Ethernet Market- COVID-19 Impact Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Executive Summary
The single pair ethernet market was valued at US$ 1,901.37 million in 2021 and is projected to reach US$ 3,602.17 million by 2028; it is estimated to grow at a CAGR of 9.6% from 2021 to 2028.There has been a rapid increase in industrial robots in the automation of the automotive and consumer electronics industries, thereby propelling the need for the integration of different types of industrial robots, which is majorly driving the single pair ethernet market. Automotive, pharmaceuticals, packaging, and food and beverages are prominent industries where automated robotics systems are used. The scope of SPE (Single Pair Ethernet) would also expand in the coming years with the growing use of robotics in manufacturing industries. In addition to the growing demand for industrial robots, smart devices are also expanding, which is expected to create lucrative business opportunities for the growth single pair ethernet market. Rising demand for products with increased communication and smaller size with greater functionality, the penetration of smart devices continues to rise due to increasing demand for products with increased communication and smaller size with greater functionality. A strong and reliable communication network enables smart devices to seamlessly give accurate data to and from its source, supporting field service technicians and engineering plant managers to make real-time decisions. Thus, the factors mentioned above are driving the single pair ethernet market growth.
Impact of COVID-19 Pandemic on North America Single Pair Ethernet Market
North America is among the worst-hit regions by the COVID-19 pandemic. COVID-19 outbreak negatively impacted the region's manufacturing and construction businesses in four critical areas, including supply chain/operations, workforce, 2020 investments, and product offering. Furthermore, there were disruptions in the supply chain of many industries due to restrictions in logistics and the closing of manufacturing facilities. Manufacturing companies such as Fiat Chrysler, Ford, and General Motors temporarily closed down their plants in the US due to rising COVID-19 cases in the first and second quarters of 2020. Canada and Mexico also witnessed the same step by manufacturers to limit the spread of the virus.
However, in 2021, with the uplifting of lockdown restrictions and vaccination processes, the manufacturing plants started again, thereby creating a positive scenario for the single pair ethernet market growth.
The global single pair ethernet market has been segmented into five major regions — North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). North America held the largest market share in 2020, followed by Europe and Asia Pacific. Asia Pacific is further anticipated to register the highest CAGR in the market during the forecast period.
North America has a diverse and developed industrial presence across the region. Manufacturers from the automotive, metals, pharmaceuticals, and consumer goods sectors have increased their adoption of robotic and automation processes. Further, the region is expressing increasing sales of EVs and a rise in deployment of clean energy projects such as wind and solar, which is another factor for the high market share of single pair Ethernet. The European Union has set a goal to be carbon neutral by 2050, owing to which the deployment of solar and especially wind projects are on the rise, which is a major factor for the rising adoption of single pair ethernet in Europe. Further, due to the limited availability of a skilled workforce and an aging population, industrial automation is on the rise, which is among other factors fueling the growth of the single pair ethernet market.
Analog Devices, Inc.; Belden Inc.; HARTING Technology Group; LAPP Group; LEONI; PHOENIX CONTACT India Pvt.Ltd.; Siemon; TE Connectivity Ltd.; Wiedmuller Interface GmbH & Co. KG; and Wurth Elektronik are the key players operating in the global single pair ethernet market.
The overall global single pair ethernet market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the single pair ethernet market. The process also serves the purpose of obtaining an overview and forecast of the single pair ethernet market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the single pair ethernet market.
Companies Mentioned
A selection of companies mentioned in this report includes:
- 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
- Würth Elektronik
