The global Power over Ethernet market was valued at US$ 820. 4 million in 2019 and is expected to grow at a CAGR of 11. 8% during the forecast period to reach US$ 1,917. 4 million by 2027. The popularity of LED lighting has grown at an unprecedented rate during the past few years owing to the falling price of LED and rising technological advancements.
New York, March 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Power over Ethernet Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type ; Application ; End User, and Geography" - https://www.reportlinker.com/p06038350/?utm_source=GNW
Moreover, increasing need for energy-savings through efficient lighting is phasing down the adoption of fluorescent and incandescent lighting, which, in turn is fuelling the demand for LED lighting worldwide.
As per the International Energy Agency (IEA) statistics, the global uptake of LED lighting in the residential sector rose from 5% in 2013 to 40% in 2018.The LED lighting solutions are considered highly durable and have a lower environmental footprint; moreover, they are cost-efficient and have longer lifespan.
Further, government initiatives to phase out inefficient halogen lamps, fluorescent lights and introduce minimum quality standards for LED lighting that are integrated with the Power over Ethernet.Several market players are focusing on the development of LED lighting and connecting it with the Power over Ethernet technology.
For instance, Wipro Lighting offers POE-based solutions integrated with the LED lighting technology, facilitating customizable environments for data centers, modern workspaces, education, healthcare, and retail segments. This POE-based LED lighting offers varied options for centralized and distributed architectures, which provides flexibility to either mount the related switches in an IDF/ electrical panel room or the ceiling. Such developments and facilities related to POE-based LED lighting are propelling the growth of the POE market.
The sudden closedown of most of the industries due to the COVID-19 outbreak across the world has reduced the power demand, which is hindering the electronics and semiconductor sector.The temporary closure of economic activities has also restricted the supply chain of all manufacturing goods, which has disrupted the manufacturing of Power over Ethernets across the world.
Thus, the above-mentioned factors are restraining the growth of the market.
The global PoE market is segmented based on type, application, and end user.Based on type, the PoE market is segmented into Power Sourcing Equipment (PSE) and Powered Devices (PDs).
Based on application, the market is segmented into IoT connectivity, lighting control, infotainment, access control and security, communication applications, and others.Based on end user, the market is segmented into residential, commercial, and industrial.
Based on geography, the Power over Ethernet market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).In 2019, North America held the largest share of the market, followed by Europe and APAC.
The market in APAC is projected to grow at the fastest CAGR during 2020–2027.
Overall size of the Power over Ethernet market 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 market.
The process also serves the purpose of obtaining an overview and forecast for the Power over Ethernet market with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to 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 consultant such as valuation experts, research analysts, and key opinion leaders, specializing in the Power over Ethernet market. Broadcom, Inc.; Cisco Systems, Inc.; Dell Inc.; Huawei Technologies Co., Ltd.; Maxim Integrated Products, Inc; STMicroelectronics N.V.; Texas Instruments Incorporated; Silicon Laboratories, Inc.; ON Semiconductor Corporation; and Monolithic Power Systems, Inc. are among the players profiled during this market study.
Read the full report: https://www.reportlinker.com/p06038350/?utm_source=GNW
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