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The global Power over Ethernet (PoE) chipsets market size is likely to reach $1.22 billion by 2025, according to a new report by Grand View Research, progressing at a CAGR of 12.6% during the forecast period. Increasing applications of Power over Ethernet (PoE) chipsets in the residential sector, for instance, in IP telephones, webcams & closed-circuit televisions (CCTVs), and complete wireless local area network (WLAN) coverage are poised to stoke the growth of the market over the forecast period.
Key benefit of Power over Ethernet is that it is able to transmit both network connectivity as well as power supply over a single cable and overcomes the need for installing separate wires. Similarly, VoIP phones allow transmission of mobile signal over a data network. Rising awareness regarding these merits is projected to support the growth of the market.
Growing IT developments in the education and healthcare sectors are leading to an increase in deployment of the PoE chipset technology in the commercial sector. Enhanced applications of technology such as smart meters use the Ethernet technology for benefits such as energy efficiency, improved comfort, convenience, and security. Increasing number of installations of smart meters is anticipated to drive the Power over Ethernet market over the forecast period. Surging demand for better network access and minimum disruption and cost is leading to an increase in installations of PoE chipsets in various businesses.
North America accounted for the largest share in the market in 2017. The Asia Pacific regional market is estimated to witness tread along a healthy growth track over the forecast period, on account of growing demand for high-speed internet facilities and automation across different industries. Additionally, Japan, China, India, Singapore, and Hong Kong are expected to be the key contributors to the growth for the upcoming 802.3bt standard in the region.