Industrial Ethernet Research Report by Forecast to 2025
Industrial Ethernet Market Scenario:
Industrial ethernet is used for process control, networking, and real-time monitoring in industries. The technology has been witnessing rapid developments and is projected to exhibit large-scale adoption over the next couple of years. In this observation presented by Market Research Future (MRFR), the global industrial ethernet market is presumed to exceed USD 70 Bn market by the end of the assessment period 2019 to 2025. Also, the market is expected to strike 23.1% CAGR during the forecast period.
The technology has found application across major end-user industry verticals such as oil & gas, manufacturing, etc., which is poised to drive the revenue growth of the industrial ethernet market in the foreseeable future. In addition, the rising adoption of technology among other industry domains is poised to prompt market growth during the review period. Increasing deployment of connected devices is one of the primary driving factors of the global Industrial Ethernet.
Industrial Ethernet Market Competitive Dashboard:
Beckhoff Automation GmbH & Co. KG (Germany), Rockwell Automation, Inc. (US), Cisco Systems, Inc. (US), Schneider Electric (France), ACS Motion Control (Israel), Belden Inc. (US), General Electric (US), Analog Devices, Inc (US), ABB (Switzerland), B&R (Austria), Bosch Rexroth AG (Germany), OMRON Corporation (Japan), Moxa Inc. (Taiwan), Eaton (Ireland), and Yokogawa Electric Corporation (Japan).
These players are emphasizing on research & development for making the technology more efficient and useful. It is anticipated to catalyze the competitiveness in the market in the forthcoming years.
Industrial Ethernet Market Segmentation:
The global industrial ethernet market, on the basis of component, has been segmented into software, services, and hardware. The sub-segments of the hardware segment covered in this report are – communication interface; power supply devices; hubs, router, and gateway; switches; connectors; and controller and processors. And, the sub-segments of the services segment are installation & testing services and maintenance services.
Based on protocol, the industrial ethernet market has been segmented into HSE, Sercos III, Powerlink, Ethernet/IP, Modbus TCP/IP, EtherCAT, Ethernet TCP/IP, Gigabit Wi-Fi, and CC-Link IE.
Vertical-based segments of the industrial ethernet market are pharmaceutical, aerospace & defense, energy & power, chemical, food & beverages, oil & gas, automotive, and others.
Industrial Ethernet Market Regional Analysis:
The geographical analysis of the global industrial ethernet market has been segmented, on the basis of region, into South America Europe, the Middle East & Africa (MEA), North America, and Asia Pacific (APAC). These regional segments are further studied on the basis of key country-level markets. North America holds the most substantial share of the global market at present. It is anticipated to witness a stellar growth rate in the years to come.
Quick adoption of the technology is likely to be leveraged by the region to capture market shares. In addition, the increasing number of connected devices is poised to revolutionize the growth pattern of the industrial ethernet market in the region in the foreseeable future. Asia Pacific is a fast-developing market and is anticipated to strike the highest CAGR during the forecast period.