The global industrial Ethernet market is showing immense growth; mainly due to the emergence of cloud technologies and growing popularity of connected devices. The automation is one major trend driving the companies to implement smart factory techniques using industrial ethernet and this in turn is fuelling the market growth. Companies these days are moving their business to cloud and data centers which requires secure, faster and reliable connection by implementing proper protocol.
According to a recent study report published by Market Research Future, The global market of Industrial Ethernet is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023). Industrial ethernet is the use of ethernet cable in the industrial application to provide real time control over the network communication. The major factor driving the growth of industrial ethernet market is due to the advancements in industrial internet of things (IIoT) and connected devices. Industrial IoT refers to connected network of devices, with sensors, data analytics, and cloud infrastructure helping to connect the imbalanced infrastructure and reducing the operating cost. It also allows real time flow of information across the production value chain by minimizing the unnecessary breakdowns.
On the other hand, lack of technical expertise and lack of determinism in Ethernet networks are some of the factors hindering the growth of industrial ethernet market. Also, difficulty of transferring the old systems to a new protocol is one major factor hindering the growth of industrial ethernet market. This makes the management more complex and network performance becomes highly critical, which may hamper the market growth.
The global Industrial Ethernet Market is expected to reach approximately USD 40.6 Billion by 2023 growing at a 12.20% CAGR over the forecast period 2017-2023.
Major Key Players:
Some of the key players of Industrial Ethernet market include Beckhoff Automation (Germany), Cisco Systems, Inc (U.S.), Rockwell Automation, Inc (U.S.), Schneider Electric SE (U.S.), ABB Group (Switzerland), Belden Incorporated(U.S.), Bosch Rexroth AG (Germany), ACS Motion Control Ltd (Israel), and General Electric Company (U.S.)
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Geographically, the Industrial Ethernet is segmented into four different regions namely North America, Asia Pacific, Europe, and the Rest of the World.
Asia Pacific is presumed to be the dominating region in industrial ethernet market. The Asia Pacific market is sub-divided into China, India, Japan, Taiwan, Republic of Korea and Rest of Asia. This is due to a large application market of industrial Ethernet such as broadband and fiber optics and developing markets for the optical network market are the fuelling factors for the industrial ethernet market over the forecast period North America is expected to be a growing region in the industrial Ethernet market. The U.S. and Canada, and Mexico are the prominent countries in the region. High adoption rate of data centers and increasing growing cloud based infrastructure are expected to be the driving forces for this region.
- The Industrial Ethernet is differentiated by component, protocol type, and end user.
- Based on component, the industrial ethernet market is sub-segmented into hardware and services. The hardware sub segment consists of switches, connectors, sensors and others. Furthermore, the service sub-segment is classified into system integration & training services, monitoring services, and IT services
- Industrial Ethernet is further divided on the basis of protocol type that include EtherNet/IP, PROFINET, EtherCAT, Modbus TCP, POWERLINK, Sercos III and CC-Link IE
- On the basis of end user, the Industrial Ethernet is segmented into electronics and electrical, automotive, oil & gas, aerospace & defense, mining, chemicals, manufacturing, and others.
- By protocol type, ETHERNET/IP market is expected to be the fastest and grow at USD 11.31 billion by the end of 2023 with 13.99% CAGR from 2017 to 2023
- By application type, automotive market is expected to grow at USD 11.80 billion by the end of the year 2023 with 15.24% CAGR from 2017 to 2023
- Geographically, Asia Pacific region has been projected to hold the largest market share in global industrial ethernet market followed by North America region, while Europe ranks third in the industrial ethernet market.
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- Storage providers
- Network equipment providers
- Telecom operators
- Research firms
- Electronic component industries
- Auto component manufacturer
- Electronic industry
- Government Agencies
- Military and defense
- Aerospace industry
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