Global Industrial Ethernet Switch Market growing at a CAGR of 7.2% from 2023 to 2030

Consegic Business Intelligence provided an inclusive research report on the industrial Ethernet switch market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. Smart grids are predicted to witness the fastest CAGR as the switches play a key role in enabling reliable communication and data exchange among various components of the smart grid infrastructure namely substations, distribution automation systems, and advanced metering infrastructure. The switches provide the necessary connectivity and bandwidth to support real-time monitoring, control, and optimization of energy flow, leading to improved energy management and efficiency. Additionally, smart grids facilitate the integration of renewable energy sources, including solar and wind power, into the existing energy infrastructure. The integration requires advanced communication and control capabilities to manage the fluctuating generation and distribution of renewable energy. Industrial Ethernet switches enable the integration of renewable energy sources by providing the network infrastructure for real-time monitoring and grid balancing, hence contributing remarkably in boosting the market growth.