Power over Ethernet Solutions Market Size 2022 Growth, Research, and Development by 2025
The Power over Ethernet (PoE) solution market is anticipated to gain significant revenue growth on account of rising adoption of wireless networks and growing need for cost-effective wireless network infrastructure. Rapid development of smart city projects could generate new business avenues for PoE device manufacturers. Governments worldwide are actively encouraging the development of smart cities.
Reliable and cost-effective network solutions are in high demand across enterprises, majorly to operate physical security applications like access control systems and IP cameras. This shifting trend towards reliable solutions when coupled with the growing inclination towards cloud-based networking technologies could enhance the global PoE industry outlook.
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One of the benefits of implementing the PoE solutions is that it cuts the need for a separate power device to supply power to every IP-enabled lighting solution. Moreover, it aids in improving productivity and energy efficiency across commercial spaces. Based on these aspects, Global Market Insights, Inc., estimates that the power over ethernet solution market could reach USD 2 billion by the year 2025.
Mentioned below are some of the ongoing trends stimulating the demand for PoE devices:
Escalating demand from residential spaces -
Growing popularity of smart homes could positively impact the deployment of PoE solutions in residential spaces. Smart homes offer consumers the ability to control devices like IP cameras, access controllers and LED lighting from their smartphones to optimize power and improve safety. New startups like Eden smart homes are offering affordable home automation options residential spaces.
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Estimates suggest that Power Sourcing Equipment (PSE) segment could register a compound annual growth rate of more than 18% within the predicted timeframe. Usually, installations of smart devices in residential places can create complications owing to the restricted availability of power sources.
PoE solutions allow residential users to minimize these complexities by delivering the required additional power supply. Manufacturers are also investing effort in developing new PoE switches and solutions to simplify residential installations. Citing an instance, Philips released LuxSpace PoE, a smart energy-saving luminaire optimized for connected lighting systems in residential spaces.
Promising opportunities across North America -
Increasing presence of leading PoE equipment manufacturers like Dell EMC, Cisco, HPE, and Broadcom could propel the deployment of PoE solutions across North America. Back in 2018, the regional market had controlled almost 45% of the overall market share and is expected to maintain the same growth over the forecast timeframe. Incorporation of IoT technology for building and factory automation will favor PoE suppliers. For instance, in 2018, the global smart building sector recorded investments worth over $2.4 billion in startups, with over half of them located in the Canada and the U.S.
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Adoption of lucrative business strategies -
Companies operating in the PoE solution industry are engaging in a number of organic as well as inorganic growth strategies like product launches and strategic collaborations to enhance their market presence and geographical reach. Taking November 2020 for instance, Arista Networks introduced a new series of high-throughput campus switches, the 750 and 720 series switches, developed to keep up with the increased bandwidth demands of IoT devices and WiFi 6 access points.
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