Press release
Industrial Ethernet Market to $72bn by 2024, Top Key Players: MOXA, Parker Hannifin, Rockwell Automation, Siemens, Schneider Electric, Honeywell, Eaton, Cisco, Bosch Rexroth, Belden Inc., Beckhoff Automation, B&R Industrial Automation, ABB
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Industrial Ethernet Market size is set to exceed USD 72 billion to grow at around 15% CAGR over the forecast timespan. 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.
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
The hardware segment is expected to hold a major share of the Industrial Ethernet market by 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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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 softwarecomponents 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.
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.
Switches accounted for majority of the industrial Ethernet market share in 2016 owing to their advantages over commercial switches in terms of the ability to operate in harsh industrial environments. Also, the switches have redundant power inputs to ensure the maximum uptime. They offer full bandwidth to eliminate the issues of network determinism. Managed Ethernet switches, also known as intelligent switches, offer superior control capabilities and are used in applications that require network segmentation or traffic monitoring and a high bandwidth.
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
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 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.
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 Related Reports: https://www.openpr.com/news/1563372/Global-IoT-in-Manufacturing-Market-worth-150bn-by-2024-Key-Players-IBM-Intel-Cisco-PTC-Schneider-Electric-Zebra-Technologies-Honeywell-Hitachi-Hewlett-Packard-Enterprise-Dell-GE-ABB-Huawei-Technologies-Rockwell-Automation.html
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