According to our latest market 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.

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.

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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.

Factors attributing toward the growth of Single Pair Ethernet (SPE) include, increasing demand for industrial automation, IIoT-based applications, adoption of industrial robots, inclination towards having access on real-time monitoring applications, and smart devices. Moreover, demand for faster communication and self-diagnostic reporting with lesser downtime are other parameters creating demand for SPE in different corners of the world, hence supporting market growth. Further, high requirement for data rate transmissions has been limited for many years; however, SPE made it feasible for video surveillance cases that needs more data power. Augmented demand and data transmissions enable video surveillance and cameras to trigger security alarms faster to provide building security more time to respond to situations. The factors mentioned above are creating a positive impact on the growth of SPE and thereby increasing the market growth.

North America has diverse and developed industrial presence across the region, and manufacturers from automotive, metals, pharmaceuticals, and consumer goods sector have increased their adoption of robotic and automation processes. Further, the region is expressing increasing sales of EVs and rise in deployment of clean energy projects such as wind and solar which is among another factor for high market share of single pair ethernet. The increasing deployment of robots in manufacturing industries in countries such as China, Japan, India, and South Korea is a major factor driving the single pair ethernet market in APAC. Further, the countries have a large automotive sector which produces notable number of vehicles and with the regional automotive players increasing their EV product line the demand for single pair ethernet is projected to witness major traction.

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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