Press release
Industrial Ethernet Market Trends Analysis By Top Key Players: Schneider Electric, Siemens, Rockwell Automation, Parker Hannifin, MOXA, Honeywell, Eaton, Cisco, Bosch Rexroth, Belden Inc., Beckhoff Automation, B&R Industrial Automation, ABB
Industrial Ethernet Market size
Industrial Ethernet Market size is set to exceed USD 72 billion to grow at around 15% CAGR till 2024. The Industrial Ethernet market growth is attributed to the growing popularity of industrial IoT (IIoT) to improve the efficiency of supply chain and production processes in industrial settings. Large-scale adoption of Industrial Ethernet products, such as switches, gateways, connectors, processors, and controllers for structuring industrial networks, is expected to boost the Industrial Ethernet market growth over the forecast timeline.
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Ethernet TCP/IP protocol is projected to witness an extensive adoption in Industrial Ethernet market throughout the forecast period for facilitating connections between various devices such as robots, sensors, PLCs, and other industrial machines. As the protocol enables effective real-time communication of time-sensitive factory/floor data in the industrial environment, it is expected to witness a large-scale adoption between 2017 and 2024.
The installation and testing service segment held a major share of the Industrial Ethernet market in 2016 and is expected to maintain this dominance over the forecast period. As different hardware and software components of the infrastructure need to be integrated with the legacy systems used in industrial settings, the demand for effective functional testing and the implementation of such components will witness a steady growth over the forecast timeline.
Some of the advantages of Industrial Ethernet include improved interoperability, increased network distance, and the ability to have multiple nodes on links. The value proposition of Industrial Ethernet aligns well with that of Industry 4.0 and IIoT. As industrial devices are increasingly required to feed data to enterprise-level cloud-based applications, the demand for Ethernet-enabled end devices in industrial networks is increasing consistently from all the end-use sectors.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Schneider Electric
2. Siemens
3. Rockwell Automation
4. Parker Hannifin
5. MOXA
6. Honeywell
7. Eaton
8. Cisco
9. Bosch Rexroth
10. Belden Inc.
11. Beckhoff Automation
12. B&R Industrial Automation
13. ABB
Industrial Ethernet Market, By Application
o Oil & gas
o Aerospace & defense
o Energy & power
o Electrical & electronics
o Automotive & transport
o Chemical
Industrial Ethernet Market, By Protocol
o Ethernet TCP/IP
o Gigabit Wi-Fi
o PROFINET
o Ethernet/IP
o Modbus TCP/IP
o Powerlink
o EtherCAT
o Sercos III
o HSE
Browse key industry insights spread across 230 pages with 173 market data tables & 29 figures & charts from the report, Industrial Ethernet Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/industrial-ethernet-market
North America will hold the majority share of the Industrial Ethernet market by 2024, accounting for over 50% due to the rapid growth of manufacturing automation applications in the region supported by Industry 4.0. The supportive government initiatives and policies for driving the adoption of industrial automation among the manufacturing and automotive industry are also estimated to have a significant impact on the Industrial Ethernet market growth throughout the forecast timeline.
The Asia Pacific Industrial Ethernet market growth is largely driven by rapid industrialization in countries including India, China, and Japan owing to the increasing demand for the industrial automation solution in the region. Furthermore, the increasing adoption of IIoT solutions and the growing adoption of the solutions among the organizations for flexibility, scalability, and to reduce the cost of operation are the major factors fueling the market growth.
The players operating in the industrial Ethernet market offer complete solutions that include ABB, ACS Motion Control, ADVANCED Motion Controls, B&R Industrial Automation, Beckhoff Automation, Belden Inc., Bosch Rexroth, Cisco, Eaton, Honeywell, Innovasic Semiconductor, MOXA, Omron Industrial Automation Europe, Parker Hannifin, Rockwell Automation, Siemens, Schneider Electric, and Yaskawa America, Inc. - Drives & Motion Division.
Browse Related Reports: https://www.gminsights.com/industry-analysis/video-conferencing-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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