Industrial Ethernet Market Size to Grow by USD 29.39 Bn| Witnesses Emergence of ABB Ltd. and Analog Devices Inc. as Key Market Contributors | Technavio

Industrial Ethernet Market Drivers and Challenges

The increasing number of smart grid projects is one of the key drivers anticipated to influence the market positively during the forecast period. There is a surge in the implementation of smart grids in the power industry with the growing need for detection and reaction to local changes in the use of power. The initiatives taken by Chinese and North American governments of these regions to modernize traditional power grids into smart grids are increasing the scope of the global industrial Ethernet market. The investments for smart grid projects are also driven by the awareness among end-user industries about the benefits of smart grid projects over traditional grids. In addition, other factors such as surging replacement of Fieldbus with industrial Ethernet and growing implementation of IIoT will further fuel the market growth in the long run.

However, the fluctuating raw materials price will be a major challenge for the industrial ethernet market vendors during the forecast period. Surging demand for industrial cables and fierce competition in the market has made it difficult for vendors to sustain themselves in the market. In addition, the prices of raw materials depend on factors such as their availability, demand-supply gap, inflation, and production. The price variations of non-ferrous materials will further impact the market adversely. Furthermore, other factors such as effect of power on data in network cables coupled with issues and vulnerabilities of network security will eventually result in limiting the market growth.

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Industrial Ethernet Market Segment Analysis

Technavio analyzes the market by Technology (ethernet/IP, PROFINET, etherCAT, modbus TCP/IP, and others) and Geography (APAC, North America, Europe, South America, and MEA). The ethernet/IP segment held the largest industrial ethernet market share in 2020 and willl continue to continue its dominance in the market during the forecast period. The growth can be attributed to the various advantages offered by Ethernet/IP.  Factors such as high flexibility and performance, growing implementation of IIoT, and the ongoing increased penetration of Ethernet networks in process industries are driving the Ethernet/IP market. 

In terms of Geography, APAC was the largest revenue-generating segment of the industrial ethernet market. The power and automotive industries are expected to gain traction during the forecast period because of the rising consumer base for automobiles in India and China, in turn, driving the growth. PROFINET, EtherCAT, Ethernet/IP, PROFIBUS, Modbus, and CC-Link are widely used, and the Ethernet version CC-Link IE Field is also gaining traction in the region.

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Industrial Ethernet Market Segment Scope

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters

Industrial Ethernet Market Sizing
Industrial Ethernet Market Forecast
Industrial Ethernet Market Analysis

Industrial Ethernet Market Vendor Analysis

The industrial ethernet market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Companies in the market are engaging in launching new products and focusing on merging as well as acquiring new emerging industry participants to strengthen their foothold in the market.

For instance, In July 2021, ABB Ltd. announced it will acquire ASTI Mobile Robotics Group, a leading global autonomous mobile robot manufacturer with a broad portfolio across all major applications enabled by the company software suite. Similarly, in June 2021, Robert Bosch GmbH entered a joint venture with BASF Digital Farming to globally market and sell smart farming technologies from a single source has now received approval from all relevant merger control authorities.

Companies Mentioned

• ABB Ltd.
• Analog Devices Inc.
• Belden Inc.
• Hitachi Ltd.
• Nexans SA
• Physik Instrumente (PI) GmbH and Co. KG
• Robert Bosch GmbH
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG

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Related Reports:

Industrial Ethernet Cables Market by End-user and Geography - Forecast and Analysis 2021-2025

Power Over Ethernet Market by Type and Geography - Forecast and Analysis 2022-2026

Key Topics Covered:

• Executive Summary
• Market Landscape
• Market Sizing
• Five Forces Analysis
• Market Segmentation by Technology
• Customer landscape
• Geographic Landscape
• Vendor Landscape
• Vendor Analysis
• Appendix

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