The Power over Ethernet market in Europe is expected to grow from US$ 222.99 million in 2019 to US$ 594.24 million by 2027; it is estimated to grow at a CAGR of 12.0% from 2020 to 2027.
In 2020–2021, The demand for Power over Ethernet (POE) is increasing among various industry players owing to its wide range of applications such as for commercial, residential, and industrial. The increasing deployment of cameras (IP cameras, VoIP, and webcams), proximity sensors, and RFID readers for network security across commercial and residential applications is projected to increase the demand for Power over Ethernet. Increasing population, rising disposable income, and growing internet penetration coupled with technological developments are the key factors driving the demand for smartphones and smart devices. Smart devices offer optimized features, such as enhanced display and in-house health monitoring technology. As these advanced features are captivating consumer attention toward intelligent devices, it is a significant driver for the market growth. Further, with the rising implementation of RFID (Radio-frequency identification) technology in asset tracking from the manufacturing and commercial sectors, the demand for Power over Ethernets is increasing in these sectors. Moreover, increasing adoption of IoT across all the industry vertical to improve efficiency and to save cost is fueling the growth of the Europe Power over Ethernet market. Additionally, rising usage of connected devices is another factor expected to fuel the demand for Power over Ethernets in Europe.
Based on application, the lighting control segment led the Europe Power over Ethernet market in 2019. The usage of Power over Ethernet is considered one of the substantial additions for the smart inventions in the lighting domain. The smart lighting solutions integrate the advanced LED luminaires with digital controls for flourishing a desired and appropriate lighting effect. The prominent commercial lighting manufacturers are focusing on the integration of Power over Ethernet technology with the modular lighting solution that boosts the productivity and superior safety in a commercial space. The Power over Ethernet aids the development of a connected and smart workspace to provide the perfect lighting for ensuring the utmost comfort. For instance, On Semiconductor offers NCP1096 and NCP1095 Power over Ethernet ICs for power devices of connected lighting. Similarly, in 2018, Microsemi announced digital ceiling Power over Ethernet switch that provides cost-effective and optimal solution for POE lighting and other digital ceiling applications.
The COVID-19 outbreak has severely impacted the Europe region. Europe is one of the most important regions for the adoption and development of new technologies owing to the factors such as favorable government policies to boost innovation, the presence of a high-tech companies, and high purchasing power, especially in developed countries. The outbreak of the virus has distrusted the supply chain and manufacturing processes in various countries of the region. To control the spread of the COVID-19, governments have imposed various measures, which have led manufacturing facility to operate with limited work force, which ultimately affected the production of semiconductors and electronics in this region. Further, the recent imposition of containment measure owing to the spread of newly mutated strain might further hamper the market in this region. Thus, the spread of newly mutated strain of COVID-19 is anticipated to affect the market till first quarters of 2021.
The overall Europe Power over Ethernet market size 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 Europe Power over Ethernet market with respect to all the segments pertaining to the region. 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 who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the Europe Power over Ethernet market. Broadcom Ltd.; Cisco Systems, Inc.; Dell Inc; Huawei Technologies Co., Ltd.; Maxim Integrated Products, Inc; Monolithic Power Systems Inc.; ON Semiconductor Corporation; Silicon Laboratories Inc.; STMicroelectronics N.V.; and Texas Instruments, Inc. are among the key players operating in the Europe Power over Ethernet market.