Industrial Ethernet Market to Witness Huge Growth by 2026 | Key Players are Siemens (Germany), Rockwell Automation (US), Cisco (US), Belden (US), Omron (Japan), Moxa (Taiwan), Huawei Technologies (Sweden) etc.

Industrial Ethernet Market With COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Protocol (PROFINET, EtherNet/IP), End-use Industry (Automotive & Transportation, Electrical & Electronics), and Region - Global Forecast to 2026

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Key Players: Siemens (Germany), Rockwell Automation (US), Cisco (US), Belden (US), Omron (Japan), Moxa (Taiwan), Huawei Technologies (Sweden), SICK (Germany), Schneider Electric (France), and ABB (Switzerland) are the key players in the industrial ethernet market. These top players have strong portfolios of products and services and presence in both mature and emerging markets.

The industrial ethernet market was valued at USD 9.2 billion in 2020 and is projected to reach USD 13.7 billion by 2026. It is expected to grow at a CAGR of 7.3% during the forecast period. Growing need for scalable, fast, reliable, and interoperable communication protocols, increasing initiatives by governments of developing countries to promote adoption of industrial automation, and growing popularity of smart automobiles are contributing to the growth of the industrial ethernet market. Rising adoption of 5G to act as a growth opportunity for the market players.

“Based on the offering, hardware to account the largest share during 2021–2026.”

The hardware segment is expected to hold the largest share of the industrial ethernet market. Devices such as IP phones and PCs are connected to the internet to enable rapid communication in industries. Machine-to-machine (M2M) communication in the industrial environment helps facilitate efficient plant operations. It accelerates operations and ensures higher reliability and robustness across various industries, such as automotive, transportation, aerospace & defense, pharmaceutical, and food & beverage. However, a secure and robust network is required to protect internet-connected devices from data manipulation or theft. Such a robust application-specific network can be built using networking components. The hardware segment covers the components that are used to build specific communication networks. The components include switches, routers, gateways, power supply devices, controllers, and others.

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“Ether CAT to grow at the highest CAGR during the forecast period.”

EtherCAT is a real-time industrial ethernet technology, which was developed by Beckhoff Automation (Germany). It is suitable for hard and soft real-time requirements in automation technology, test and measurement, and many other applications in the fabrication, metal forming, and assembly system industries. These industries require high data integrity, secure data transfer, and synchronicity. EtherCAT has been specifically designed for fast control demand applications. It can provide scalable connectivity for entire automation systems, from large PLCs all the way down to the I/O and sensor level. EtherCAT is a protocol optimized for process data, using standard IEEE 802.3 ethernet frames.

“Automotive & Transportation end-use industry accounted for the largest share of the industrial ethernet market during the forecast period”

Automotive is one of the largest end-use industries of industrial ethernet and is expected to continue to dominate the market due to the growing need for advanced automation in automobile manufacturing hubs worldwide. Likewise, water level monitoring sensors, AC drives, and controllers are the crucial components of water treatment systems, and an industrial ethernet network is used to facilitate communication among these systems. In automobile manufacturing, Ethernet (IEEE 802.3) is an extensively used protocol. In this industry, many processes are controlled through computers, and Ethernet is one of the most suitable protocols for computer-enabled communication. The technology is primarily used for diagnostics, machine control, and factory automation, and for connecting remote sensors. It has the capability of handling a large amount of data traffic on a single infrastructure.

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Research Coverage

The report defines, describes, and forecasts the industrial ethernet market based on offering, protocol, end-use vertical, and geography. It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the industrial ethernet market. It also analyzes competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and developments carried out by the key players to grow in the market.

Key Benefits of Buying the Report

The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall industrial ethernet market and the sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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