Press release
Industrial Ethernet Market 2024 Top Key Players: Rockwell Automation, Siemens, ABB, ACS Motion Control, ADVANCED Motion Controls, B&R Industrial Automation, Beckhoff Automation, Belden Inc., Bosch Rexroth, Cisco, Eaton, Honeywell, Schneider Electric
Industrial Ethernet Market
Industrial Ethernet Market by hardware segment is expected to grow rapidly to 2024 owing to the extensive adoption of Ethernet switches, hubs, gateways, and connectors to enable industrial automation functions. The service segment in Industrial Ethernet market is projected to exhibit the fastest growth between 2017 and 2024 reporting a CAGR of around 27% owing to the need for effective installation, testing, and maintenance of the network infrastructure to ensure a long-term stability.
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While Industrial Ethernet operates on the same protocols used for Ethernet implementation in office-automation, the use in industrial setting requires consideration of the environment in which the technology needs to function. 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.
Global Industrial Ethernet Market in 2016 was estimated to be over USD 20 billion and is set to exceed USD 72 billion by 2024; according to a new research report by Global Market Insights, Inc.
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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Rockwell Automation
2. Siemens
3. ABB
4. ACS Motion Control
5. ADVANCED Motion Controls
6. B&R Industrial Automation
7. Beckhoff Automation
8. Belden Inc.
9. Bosch Rexroth
10. Cisco
11. Eaton
12. Honeywell
13. Schneider Electric
Industrial Ethernet Market, By Component
o Hardware
o Switches
o Hubs, routers, and gateways
o Connectors
o Communication Interface
o Controllers and processors
o Software
o Service
o Installation and testing service
o Maintenance service
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The oil & gas segment is expected to witness an accelerated growth throughout the forecast timeline as Industrial Ethernet market solutions enable mission-critical communications in harsh conditions in oil and natural gas extraction environments. Due to the capabilities such as reliability, ruggedness, and remote access, the technology proves to be advantageous over office-grade ethernet equipment for operating in the harshest environmental conditions.
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.
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.
Some of the key players operating in the Industrial Ethernet market are ABB Ltd., ACS Motion Control, ADVANCED Motion Controls, Alta Industrial Motion, B B&R Industrial Automation, Beckhoff Automation, Belden Inc., Bosch Rexroth, Cisco, Eaton, Honeywell, Innovasic Inc., MOXA, Omron Industrial Automation Europe, Parker Hannifin, Rockwell Automation, Schneider Electric, Siemens , Yaskawa Electric Corporation and Yokogawa Electric Corporation.
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
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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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com
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