Industrial Ethernet Market size worth over $120 Bn by 2027

Industrial Ethernet Market size is set to surpass USD 120 billion by 2027, according to a new research report by Global Market Insights Inc.
 

Surging need for improved technology and exploration of innovative methods to build a network for utilization of energy and electricity for industrial applications in likely to fuel the industry growth. Moreover, extensive penetration of IoT devices globally, is further supporting the market expansion.

 

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Increasing demand across industry verticals to improvise network infrastructure flexibility is expected to augment the uptake of industrial ethernet components

The organization-wide need to boost network flexibility is set to enhance the ethernet business growth. To ensure adequate interconnection across systems in the automotive sector, OEMs are integrating more computer-based systems, interfaces, and applications. This raises the cost, complexity, and weight of wiring harnesses, making them the third heaviest and most expensive component in cars. Industrial ethernet can significantly reduce the complexity and cost of wiring in the automotive by providing a single network for connecting all the system via a central switch.
 

Global Industrial Ethernet Market By Region

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Growing applications of networking technology for improving the productivity of industrial processes will foster the industrial ethernet switches demand

The up to 1 Gbps switches segment is estimated to witness 5% CAGR through 2027. Rising adoption for the industrial IoT components across the manufacturing facilities enables the need for faster network servers with high speed connectivity beyond the traditional fast ethernet will spur the segment growth. The gigabit ethernet provides better speed and bandwidth capabilities than the traditional fast ethernet switches.
 

Browse key industry insights spread across 345 pages with 398 market data tables and 30 figures & charts from the report, “Industrial Ethernet Market Size By Component (Hardware {Switches [Up to 1 Gbps, 1 – 2.5 Gbps, 2.5 – 10 Gbps, Above 10 Gbps], Hubs, Router & Gateways, Connectors, Communication Interface, Controller & Processors}, Software, Service [Integration & Testing Service, Maintenance Service]), By Protocol (Ethernet TCP/IP, Gigabit, PROFINET, Ethernet/IP, Modbus TCP/IP, Powerlink, EtherCAT, Sercos III, HSE), By Application (Automotive & Transport, Aerospace & Defense, Electrical & Electronics, Oil & Gas, Energy & Power, Chemical), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/industrial-ethernet-market

 

Growing emphasis on industrial automation to propel the uptake of PROFINET protocol

The PROFINET protocol is poised to observe exponential growth till 2027 driven by increasing adoption of automation applications. The PROFINET protocol features advanced capabilities to support the transmission of time-critical information between input/output devices and host computers in industrial environment.
 

The rising usage for managed industrial ethernet switches across the energy & power sector

The adoption of ethernet solutions & services from enterprises operating in the energy & power is likely to increase considerably in the coming years. The renewable energy sector is growing rapidly and has a strong outlook for advanced power cable demand. Two of the fastest growing renewable energy sources including solar Photovoltaic (PV) and wind power produced electricity are increasingly leveraging specialty power cables to enable efficient transmission of power across long distances. With technological advancements in energy & power generation and distribution processes, industrial ethernet is expected to play a critical role in managing and improving the productivity of such processes.
 

Asia Pacific to gain significant traction

Asia Pacific industrial ethernet market value is anticipated to see growth rate of above 15% through 2027 due to rapid industrialization in countries including China, India, Japan, and Singapore. Supportive government initiatives and policies to drive the adoption of industrial automation solution in the region are estimated to have significant impacts on the industry statistics. For instance, in August 2020, China Southern Power Grid, China Telecom, and State Grid along with Huawei Technologies launched 5G smart grid project in 3GPP. The companies planned to jointly develop innovative technologies to address the requirements of a smart grid.
 

Focus on inorganic growth strategies by key players to augment market share

Companies are emphasizing on the development and unveiling of hardware and technological components. As in February 2020, Honeywell International Inc. launched Innovative Cooling Technology for the electronics data centers. The objective behind the development is to provide efficient solutions and reduce the environmental impact.
 

Some of the key players operating in the market include ABB Ltd., Physik Instrumente (PI) GmbH & Co. KG (ACS Motion Control, Ltd.), Barta-Schoenewald, Inc. (Advanced Motion Control), BECKHOFF Automation, Belden, Inc., Robert Bosch GmbH (Bosch Rexroth AG), Cisco Systems, Inc., Eaton Corporation, Honeywell International, Inc., Innovasic, Inc. (ANALOG DEVICES), Monnit Corporation (Alta Ethernet Gateway), Moxa, Inc., Omron Corporation, Parker Hannifin Corporation, Rockwell Automation, Schneider Electric SE, Siemens AG, Yaskawa Electric Corporation, and Yokogawa Electric Corporation.
 

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