Industrial Ethernet Market to trace exponential gain till 2024; Boosted by the automotive industry | Key Players are Rockwell Automation, Siemens, ABB, ACS Motion Control, ADVANCED Motion Controls, B&R Industrial Automation, Beckhoff Automation
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Industrial Ethernet market has essentially risen to prominence due to the extensive integration of IoT in numerous fields. Technically, industrial ethernet is an improvement over the traditional ethernet in terms of the use of rugged cables and connectors and better determinism. Enhanced determinism in fact, is one of the major factors that is expected to drive industrial ethernet industry as industrial environments have a key requirement for determinism. Packets of data have to be delivered and received with precision every time, while data delay may end up in disasters – may be an unacceptable flaw in production process. Certain protocols of industrial Ethernet such as EtherNEt/IP, PROFINET, TCP/IP have been deployed for achieving better determinism, thus impelling industrial ethernet industry growth.
A highly pivotal space of the smart technology vertical, industrial ethernet market has garnered commendable acclaim in the last few years. Industrial ethernet protocols are known to establish a flexible, scalable, and ubiquitous network that conveniently connects components as and when required. The demand for this software is exponentially high among myriad end-use sectors on account of the rising expenditure on infrastructure and the increasing requirement to enhance performance and network flexibility. Indeed, companies have even been upgrading their already existing Ethernet protocols for performance improvisation, strengthening their stance in industrial ethernet industry.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Rockwell Automation
4. ACS Motion Control
5. ADVANCED Motion Controls
6. B&R Industrial Automation
7. Beckhoff Automation
8. Belden Inc.
9. Bosch Rexroth
13. Schneider Electric
As automation continues to penetrate major industry verticals, industrial ethernet market is set to become one of the most rapidly evolving business spaces of recent times for efficient communication networking. This standard-based intelligent switching technology is claimed to offer a plethora of advantages over conventional industrial networks on virtue of its flexibility, scalability, and robustness. Although initially being considered as a solution that is limited to corporate world, industrial ethernet industry, of late, has been gaining substantial momentum in manufacturing arena. In persistent efforts to make organizations more productive and efficient, manufacturers have been rapidly integrating ethernet technology on the factory floor.
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Statistics further backing the declaration - overall industrial ethernet market, having held a revenue of USD 20 billion in 2016, is forecast to exceed a valuation of USD 72 billion by 2024. A major credit of this anticipated steeping revenue graph goes to the increasing number of lucrative initiatives undertaken by the tech giants with respect to industry standardization. Say for instance, Qualcomm’s latest demonstration of wireless Profinet Industrial Ethernet over 5G New Radio(NR) has created quite a buzz in the business space lately. Private 5G Network for industrial IoT, as per experts’ opinion, is a significant arena that would demand attention for the next phase of global 3GPP 5G NR. In response to this opportunistic wave, the American telecommunication conglomerate may have taken this initiative, setting it as a standard for other industrial ethernet industry players.
Besides the automobile industry, the energy industry has also largely adopted the use of industrial Ethernet to establish reliable, cost effective and fast communications systems. The wind power generation industry can be considered as an instance if the growth of the industrial ethernet market is to be evaluated through the energy industry. Communication equipment used in wind power generation operations is required to be hardy and able to withstand fluctuating temperatures. Wind turbines house a complex control and automation system that must communicate with other wind turbine systems to achieve a viable alternative source to traditional energy. Industrial ethernet facilitates this flawless communication thus forging growth avenues for the industrial ethernet industry with the rising prominence of wind power industry.
The competitive spectrum of industrial ethernet industry comprises a host of biggies such as Honeywell, Cisco, ABB, Siemens, Schneider, and the like. These companies have been striving to enhance the scope of industrial ethernet market via tried-and-tested growth tactics such as establishing partnerships with automation solution vendors. As the demand for automated and smart solutions increases, industrial ethernet industry is expected to chart out a highly lucrative growth map over 2017-2024.
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:
North America dominated the industrial Ethernet market in 2016 with a major share of around 57% and it is expected to maintain this dominance over the forecast timeline owing to the rapid growth of industrial automation in the region. As manufacturers are emphasizing more on getting maximum returns on their capital investments including their network infrastructures, the adoption of industrial Ethernet is expected to swiftly accelerate between 2017 and 2024.
The Asia Pacific Ethernet market is projected to exhibit the fastest growth during the forecast period owing to rapid industrialization in countries including China, India, Japan, and Singapore. Also, as the popularity and the adoption of Industrial IoT (IIoT) in the region are growing consistently, the market will witness an exponential growth over 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.
The ongoing efforts undertaken by industrial ethernet market players depicts the extent by which ethernet technology has penetrated the manufacturing ecosystem. Presently, companies partaking in the business space have been aggressively focusing on bringing advanced ethernet switches, specifically designed for harsh environments. Say for instance, NetComm Wireless, the Australia based telecommunication giant has recently made it to the headlines with the launch of its 4G LTE Cat 6 Industrial IoT router. Equipped with RDM (Remote Device Manager) platform and dual band WiFi, this high-speed connectivity for IIoT applications is particularly designed to control critical operational technology even in harsh industrial environments. Some of the other potential contenders in industrial ethernet industry who have also worked on the same profile include Moxa, Siemens, Allied Telesis, and Mencom Corporation. All in all, with robust product innovation underway and a strong regulatory groundwork backing it, industrial ethernet industry is set to explore a plethora of new applications in the ensuing years, with a target CAGR of 15% over 2017-2024.
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