Report : Asia Pacific Single Pair Ethernet Market Forecast to 2030 - Regional Analysis - by Type (Infrastructure & Device Components and Software & Services), Infrastructure & Device Components [Cables (10Base-T1, 100Base-T1, 1000Base-T1), Connectors, and Others], and Application (Robotics & Automation, Automotive & Transportation, Energy, Machinery, and Others)
At 14.3% CAGR, Asia Pacific Single Pair Ethernet Market is Speculated to be Worth US$ 3,292.76 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Asia Pacific single pair ethernet market was valued at US$ 1,127.52 million in 2022 and is expected to reach US$ 3,292.76 million by 2030, registering a CAGR of 14.3% from 2022 to 2030. Growing manufacturing sector and rising requirement for SPE in automotive applications are among the critical factors attributed to drive the Asia Pacific single pair ethernet market growth.
The manufacturing sector is rapidly expanding with the increasing number of regions investing in manufacturing plants in their localities. As per the Global Manufacturing Risk Index (MRI) 2020, the US, Germany, China, India, and Japan are the leading countries in this sector. In addition to industrial advancements, governments in emerging economies were trying to expand the manufacturing sector in their respective countries. 3D printing, AI, and robots are the most commonly used technologies in the manufacturing sector. Japan, Germany, Canada, Australia, Austria, and Switzerland are among the prominent countries in the industry 4.0 revolution.
Further, countries such as Australia, Kuwait, Saudi Arabia, and the UAE are experiencing favorable government support for strengthening the manufacturing sector. For instance, in Australia, the modern manufacturing initiative is a major element of the country's government's modern manufacturing strategy that aims to assist Australian manufacturers in scaling up and competing internationally. Similarly, India can become a global hub for manufacturing by 2030. Further, the demand for real-time manufacturing data, increased analytics, secure device-to-cloud computing, and monitoring applications is rising, increasing the demand for better industrial communication. This, in turn, is driving the single pair ethernet market.
On the flip side, compatibility issues with legacy systems hampers the growth of Asia Pacific single pair ethernet market.
Based on type, the Asia Pacific single pair ethernet market is bifurcated into infrastructure & device components and software & services. The infrastructure & device components segment held 76.6% market share in 2022, amassing US$ 863.28 million. It is projected to garner US$ 2,558.04 million by 2030 to register 14.5% CAGR during 2022-2030. Further, infrastructure & device components segment is sub segmented into cables, connectors, and others. Also, the cables segment is divided into 10Base-T1, 100Base-T1, and 1000Base-T1.
In terms of application, the Asia Pacific single pair ethernet market is segmented into robotics & automation, automotive & transportation, energy, machinery, and others. The robotics & automation segment held 42.2% share of Asia Pacific single pair ethernet market in 2022, amassing US$ 476.03 million. It is anticipated to garner US$ 1,416.46 million by 2030 to expand at 14.6% CAGR during 2022-2030.
Based on country, the Asia Pacific single pair ethernet market is categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 44.9% share of Asia Pacific single pair ethernet market in 2022. It was assessed at US$ 505.92 million in 2022 and is likely to hit US$ 1,567.02 million by 2030, registering a CAGR of 15.2% during 2022-2030.
Key players operating in the Asia Pacific single pair ethernet market are the Siemon Co, Würth Elektronik GmbH & Co KG, TE Connectivity Ltd, LEONI AG, Analog Devices Inc, HARTING Applied Technologies GmbH, Weidmuller Interface GmbH & Co KG, PHOENIX CONTACT GmbH & Co. KG, Lapp Holding SE, and Belden Inc., among others.
- In March 2022, Belden, a leading supplier of specialty networking solutions, has added Macmon's innovative technologies to its portfolio. macmon secure GmbH is a leader in advanced network access control software. Its products are complementary to Belden's leading industrial networking portfolio. It will be integrated with the company's Hirschmann, which is offering to expand its ability to provide complete end-to-end solutions.
- In January 2021, Belden has entered into a definitive agreement to acquire privately-held OTN Systems N.V., a leading provider of automation networking infrastructure solutions, for approximately $71 million, net of cash acquired
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