Power over Ethernet Solution market is projected to exceed USD 2 billion by 2025. The major market drivers are an increase in the adoption of wireless devices, increasing government support for smart cities, surging demand for cost-effective wireless network infrastructure, and shift toward cloud-based networking technologies. The enterprises are looking for reliable and cost-effective network solutions to manage physical security devices such as IP cameras and access control systems. The adoption of IoT devices across residential & commercial sectors is another factor that will help the market growth.
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The rising adoption of LED lighting for improved luminance effect is fueling the Power over Ethernet Solutions Market growth. The PoE solution eliminates the need to have separate power devices to supply power to each IP-enabled lighting system. The Power over Ethernet Solutions Market helps in improving energy efficiency and productivity at commercial places. Companies are providing lighting systems, which are making use of PoE solutions to power-connected smart buildings. For instance, in January 2019, Wipro Lighting teamed up with Cisco for PoE and pureLi-Fi for connected lighting solutions.
The Power Sourcing Equipment (PSE) segment is expected to grow at the fastest CAGR of over 18% over the forecast period due to the increase in the wireless adoption by enterprises. PSE reduces the need to install additional cabling systems to connect and power these wireless devices separately. The growing demand for high-power devices due to a significant rise in the IIoT adoption is enabling the leading technology companies to develop innovative PSE devices. For instance, in July 2017, NETGEAR, a global leading networking devices provider, introduced 24-Port Gigabit PoE+ Smart Managed Pro Switch with 2 SFP ports (GS724TPv2) to support high-density PoE installations. This new product helped the SMEs in the easy deployment of PoE-based VoIP phones and IP surveillance.
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The IP camera segment held a significant market share of over 24% in 2018 due to the increase in demand for a reliable and cost-effective surveillance systems. PoE-enabled IP cameras require a single connection for data connectivity and power supply. PoE-enabled cameras help in reducing the cost and complexities associated with additional hardware required for installing IP cameras. By deploying Power over Ethernet Solutions Market, enterprises gain the flexibility to choose the location of the camera as its installation does not require proximity to the power source. The security solution provider companies are developing PoE-enabled IP cameras to help enterprises meet their business environment surveillance purposes.
The access control & security segment is expected to grow at the fastest CAGR of over 19% over the forecast period due to the increase in demand for reliable physical security systems. The enterprises? physical security involves devices such as electric locks, biometric readers, and exit request devices. The implementation of these devices increases the total cost of ownership due to the additional power and network hardware required to supply power and connectivity separately. Power over Ethernet Solutions Marke help enterprises by providing flexibility to access control devices in their easy deployment irrespective of the proximity to the power supply.
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For the Power over Ethernet Solutions Market, North America held the highest market share of over 45% in 2018 due to the presence of prominent PoE equipment manufacturers in the region such as Cisco, Broadcom, Dell EMC, and HPE. The growing adoption of the IoT for building and factory automation is also supporting the PoE solution market growth. For instance, in 2018, the global smart building sector received an investment of over USD 2.4 billion in startups, more than half of them were from Canada and the U.S.
The Power over Ethernet Solutions Market provider companies are focusing on extending their businesses through partnerships with distributors. For instance, in April 2018, Microsemi partnered with Future Electronics, a global leading distributor of electronic components, for distributing its highly compact single port Gigabit Ethernet. This partnership helped the company in offering innovative capabilities such as lower power consumption, extended product design life cycle, and enhanced IEEE 1588v2 Precision Time Protocol (PTP) accuracy from a system-level solution for future 5G compliant designs.
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