Industrial Ethernet Market Worth USD 70.9 Billion By 2025, Growing at a 23.1% CAGR - Report by Market Research Future (MRFR)


New York, US, June 23, 2021 (GLOBE NEWSWIRE) --

Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), Industrial Ethernet Market - Information by Component, Software & Service and Region - Forecast till 2027” the market is forecasted to achieve USD 70.9 billion by 2025, at a 23.1% CAGR.

Market Scope:
Ethernet is the global standard for networking systems, making communication between devices possible. Ethernet enables the conjoining of multiple computers, devices, machines, etc., over a single network. Ethernet, today has become the most popular and widely used network technology. Industrial ethernet systems are more robust than office ethernet. Industrial ethernet has recently become a popular industry term in the manufacturing world.

Ethernet Industrial Protocol (Ethernet/IP) is a network communication standard capable of handling large amounts of data at ranging speeds. Industrial Ethernet protocols like PROFINET and EtherCAT modify standard ethernet to ensure specific manufacturing data is correctly sent and received. It also ensures the timely data transfer needed to perform a specific operation.

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Dominant Key Players on Industrial Ethernet market covered are:

  • Cisco Systems Inc. (US)
  • Beckhoff Automation GmbH & Co. KG (Germany)
  • Rockwell Automation Inc. (US)
  • Belden Inc. (US)
  • Schneider Electric (France)
  • ACS Motion Control (Israel)
  • ABB (Switzerland)
  • General Electric (US)
  • Analog Devices Inc (US)
  • Moxa Inc. (Taiwan)
  • B&R (Austria)
  • OMRON Corporation (Japan)
  • Yokogawa Electric Corporation (Japan)
  • Eaton (Ireland)
  • Bosch Rexroth AG (Germany)

Market USP exclusively encompassed:
Market Drivers
The pandemic fostered the need for industrial automation, which further helped the industrial ethernet market to normalize and witness rising revenues. Simultaneously, emerging economic and technical trends presented new opportunities to the market players. Industry players have started fostering investments in working on countermeasures. These factors would further positively impact the market growth.

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Segmentation of Market covered in the research:
The industrial ethernet market forecast is segmented into component, protocol, industry vertical, and region. The component segment is sub-segmented into hardware, software, and services.

The hardware sub-segment is further bifurcated into switches, connectors, hubs, routers & gateway, communication interface, power supply devices, controller & processors, among others. The services sub-segment is further bifurcated into maintenance services, installation & testing services, and others.

The protocol segment is sub-segmented into Sercos III, Ethernet/IP, HSE, Modbus TCP/IP, Ethernet TCP/IP, Gigabit Wi-Fi, Powerlink, EtherCAT, and CC-Link IE. The industry vertical segment is sub-segmented into aerospace & defense, energy & power, pharmaceutical, oil & gas, food & beverages, chemical, automotive, and others.

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Regional Analysis:
North America dominates the global industrial ethernet market. The market growth is driven by the presence of key technology providers, such as Rockwell Automation, Inc., Cisco Systems, Inc., Belden Inc., and Analog Devices, Inc., and early adopters of the latest technology in this region.

The Asia Pacific region holds the second-leading share in the global industrial ethernet market. The presence of leading players, such as Moxa Inc., OMRON Corporation, and Yokogawa Electric Corporation (Japan), enabling the early adoption of the technology and high penetration of IoT devices, is the major industrial ethernet market trends.

Europe derives a considerable share in the global industrial ethernet market. The growth is driven by the rapidly growing aerospace & defense and, energy & power industries. Moreover, the presence of key automakers and manufacturers of pharmaceutical products impacts the growth of the market. The flourishing manufacturing industry is also acting as a major tailwind for the growth of the market.

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Industry Trends:
The industrial ethernet market outlook appears promising. Industrial ethernet technology demonstrates tremendous opportunities in aerospace & defense, energy & power, pharmaceutical, oil & gas, food & beverages, chemical, automotive, and other industries.

Industrial ethernet enables seamless data transfer across the manufacturing plant via a secure network connection. This helps to improve the productivity in the supply chain and production process of the industry, minimizing the downtime of industrial processes.

Therefore, many industries are migrating towards the latest technology for process automation. Growing uptake of the Industrial Internet of Things (IIoT) and IoT in manufacturing and process industries is a key driving force behind the rapid industrial ethernet market growth.

Furthermore, government initiatives promoting ethernet uses in process and manufacturing industries to adopt the latest technology drive the growth of the market. On the flip side, the requirement of substantial capital investments to install industrial ethernet solutions is a major factor hampering the market growth.

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