BANGALORE, India, July 15, 2021 /PRNewswire/ -- The Industrial Ethernet Market is Segmented by Type ( Ethernet/IP, PROFINET, EtherCAT, Modbus TCP/IP, POWERLINK), by Application (Electric Power, Transportation, Oil & Gas) and by various regions. Global Opportunity Analysis and Industry Forecast, 2021–2027. This report is published in Valuates Reports under Internet & Telecom Category.
The global Industrial Ethernet market size is projected to reach USD 3192.7 Million by 2027, from USD 2123.4 Million in 2020, at a CAGR of 6.0% during 2021-2027.
Major factors driving the growth of the industrial ethernet market are:
The increasing adoption of industrial 4.0 which needs reliable internet connectivity is expected to boost the industrial ethernet market.
The growing need for scalable, fast, reliable, and interoperable communication protocols is driving the industrial ethernet market.
Rising initiatives by governments of developing countries to promote the adoption of industrial automation are expected to further fuel the industrial ethernet market.
TRENDS INFLUENCING THE GROWTH OF THE INDUSTRIAL ETHERNET MARKET:
Increasing adoption of industrial 4.0 is expected to drive the industrial ethernet market. As industrial enterprises transition to Industry 4.0, technical requirements will grow in terms of reliability , throughput, connectivity and reach. Transitioning industrial protocols to Ethernet would enhance interoperability and allow seamless connectivity with an expanding ecosystem of Ethernet devices inside and outside of the factory premises. Further, industrial ethernet is the portal to the Internet which allows on-premises devices to communicate globally.
The growing need for scalable, fast, reliable, and interoperable communication protocols is expected to drive the growth of the Industrial Ethernet market. Industrial Ethernet is required for complete transparency both within an industrial plant and between the plant and corporate networks.
The increasing need to maintain and ensure specific manufacturing data is correctly sent and received is expected to drive the Industrial Ethernet market. PROFINET and EtherCAT are industrial Ethernet protocols that modify conventional Ethernet to ensure that specific manufacturing data is not only transmitted and received correctly but also delivered and received on time when the data is required to accomplish a specific function.
The Industrial Ethernet market is fueled by the growing need for fast network redundancy. Even if a cable is broken or unplugged, or if one of the network switches fails, it is feasible to create a network of devices that can continue to communicate with one another. Many safety-critical systems must be extremely dependable and fault-tolerant. The redundancy capability of Industrial Ethernet switches is the primary method to achieve this level of reliability.
Furthermore, using industrial ethernet instead of serial communication in factories massively increases the flexibility of the installed network. A single cable can be used for video, voice, and many different types of data, in comparison the traditional Fieldbus systems were limited to one task with no scope for diversification.
North America is expected to be the most lucrative region. The introduction of Industry 4.0 is expected to be one of the primary drivers for North America's industrial ethernet market growth. Furthermore, government regulations and initiatives that encourage the adoption of industrial automation in the manufacturing and automotive industries are expected to have a substantial impact on the industry. The presence of a significant number of industrial automation players in the region will also aid market development in the region.
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
- The Industrial PROFINET Market is segmented by Type PROFINET CBA, PROFINET IO, by Application Web Service, Industrial Automation and by various regions.
- Industrial Ethernet Connectors Market was valued at USD 597.3 Million in 2019 and it is expected to reach USD 999.6 Million by the end of 2026, growing at a CAGR of 7.9% during 2021-2026.
- Automotive Ethernet market size is projected to reach USD 2850.6 Million by 2026, from USD 1254.1 Million in 2019, at a CAGR of 12.3% during 2021-2026.
- The Industrial Ethernet Switch market is segmented by Type Modular switches, Fixed configuration switches, by Application Manufacturing, Aerospace and Defense, Electric and Power, Oil and Gas, Automotive and Transportation and by various regions.
- The Industrial Ethernet PHYs Market is segmented by Type 10 Mbps, 100 Mbps, by Application Industrial 4.0, Smart Factory, Communication, Automotive and by various regions.
- The Managed Industrial Ethernet Switches market is segmented by Application Factory and Industrial Automation, Marine, Rail and Intelligent Transportation Systems, Oil and Gas, Mining and Outdoor Applications and by various regions.
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.