Industrial Ethernet Market Driven by Growing Demand for Data Centers | Industrial Ethernet Market Forecast by Component, Protocol Type and by End User

The industrial Ethernet market is expected to exhibit a 12.2% CAGR over the forecast period. The major drivers for the global industrial Ethernet market include the increasing demand for data centers and the growing fiber optic connectivity in Asia Pacific.


Pune, India, July 17, 2019 (GLOBE NEWSWIRE) -- The global industrial Ethernet market is expected to exhibit a strong 12.2% CAGR over the forecast span from 2017 to 2023, rising to a valuation of USD 40.6 billion, according to the latest research report from Market Research Future (MRFR). The global industrial Ethernet market is studied in detail in the report in order to find the leading drivers and restraints affecting the market, the market’s leading segments, and major players operating in the market.

The industrial Ethernet market has been driven majorly by the growing adoption of automation solutions in the industrial sector. Case in point is the manufacturing sector, which has been a major adopter of automation solutions due to the immense benefits it provides in terms of manufacturing costs, time, and efficiency. This has driven the demand from the industrial Ethernet market, as a strong industrial automation system relies on stable network connectivity, offered by technologies such as industrial Ethernet. The manufacturing sector around the world is likely to exhibit increasing demand for automation solutions over the forecast period, as the technology has not yet penetrated underdeveloped markets in emerging regions such as Asia Pacific and Latin America. The unfulfilled scope of the industrial Ethernet market in these regions is likely to enable steady growth over the forecast period.

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The growing reliance on data centers is also likely to be a major driver for the global industrial Ethernet market over the forecast period. As the importance of data analysis has grown over the last few years, the development of data centers has taken place at a rapid rate. Companies such as Google and Facebook, whose data gathering and analysis algorithms are essential to their operation, have taken major steps in safeguarding their data, including building a network of data centers and operating them on their own standards. The growing demand for social media is likely to be a major driver for the industrial Ethernet market, as this is likely to drive the demand for more data center operations over the forecast period.

On the other hand, the key restraint on the global industrial Ethernet market is the risk of online attacks, which has increased over the last few years with the development of ever more effective tools in the hacker’s armory. While companies are keen to install automation solutions in their manufacturing operations and to increase their reliance on data centers, the risk of online attacks by hacking the Ethernet system has held back the demand for such solutions. Cyber safety has emerged as a key point in several corporate meets, making it a crucial point for companies in the industrial Ethernet market to focus on when considering new product development or expansion plans.

Competitive Analysis:

Leading players in the global Industrial Ethernet Market include General Electric Company, ACS Motion Control Ltd., Bosch Rexroth AG, Belden Inc., ABB Group, Schneider Electric SE, Rockwell Automation Inc., Cisco Systems Inc., and Beckhoff Automation.

Segmentation:

The industrial Ethernet market is differentiated by component, protocol type, end user, and region.

Based on component, the industrial Ethernet market is segmented into hardware and services. The hardware segment is further sub-segmented into switches, connectors, sensors, and others, while the services sub-segment contains system integration & training services, monitoring services, and IT services.

The industrial Ethernet market is divided on the basis of protocol type into Ethernet/IP, PROFINET, EtherCAT, Modbus TCP, POWERLINK, Sercos III, and CC-Link IE. The Ethernet/IP segment is set to be the fastest growing protocol segment of the global industrial Ethernet market over the forecast period, with the segment expected to exhibit a CAGR of close to 14% from 2017 to 2023. The segment is expected to reach a valuation of USD 11.31 billion by 2023.

On the basis of end user, the industrial Ethernet market is segmented into electronics and electrical, automotive, oil & gas, aerospace & defense, mining, chemicals, manufacturing, and others. The automotive industry is likely to hold a dominant share in the global industrial Ethernet market over the forecast period. This is credited to the rising demand for industrial automation in the automotive industry. The automotive segment is expected to exhibit a 15.24% CAGR over the forecast period, growing to a valuation of USD 11.8 billion by 2023.

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Regional Analysis:

The global industrial Ethernet market is segmented into North America, Europe, Asia Pacific, and rest of the world. Asia Pacific is likely to hold the dominant share in the global industrial Ethernet market over the forecast period due to the growing adoption of advanced fiber optics and broadband technology in the region’s developing economies. Countries such as China, India, Taiwan, South Korea, and Japan are likely to play a key role in the growth of the industrial Ethernet market in Asia Pacific over the forecast period.

North America is also likely to play a key role in the growth of the industrial Ethernet market over the forecast period due to the increasing presence of data centers in the region, which has driven the demand for industrial Ethernet infrastructure.

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