The global industrial PROFINET market to grow at a CAGR of 17.20% during the period 2017-2021.
Global Industrial PROFINET Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers new installations, retrofit, replacement, and aftersales services.
According to the report, one driver in the market is enhances industrial performance. The rapid industrialization around the world is suggesting the strategy managers to reduce the time and cost of production to prevent losing out on their return on investment. The urge of improving the operational performance is driving organizations to install automation and network communication to address streamlined process requirements. The industrial performance is enhanced by implementing different communication protocols along the network, among which PROFINET is the major one.
One trend in the market is PROFINET of Things. The most important trend that drives the market for network communications is PROFINET of Things. PROFINET has become the backbone of Industrial 4.0 and IIoT. This brings the theme of PROFINET of Things, which is gaining popularity due to its fast data access, uptime, and openness.
Further, the report states that one challenge in the market is challenges in monitoring and diagnosis of networks. The rapid shift from PROFIBUS to PROFINET is introducing technical challenges to monitor the network. Maintaining the operation, keeping the networks running, and ensuring quick reaction to the events are the challenges faced in the case of PROFINET. Professionals handling these technologies should have an in-depth knowledge of the technology to handle the faults and tools efficiently, which would reduce the chances of error.
Other prominent vendors
B&R Automation (A member of ABB Group from July' 2017)