With 7.3% CAGR, Industrial Ethernet Market Growth to Surpass USD 13.8 billion

The global industrial Ethernet market is projected to grow from USD 9.7 billion in 2021 to USD 13.8 billion by 2026; it is expected to grow at a CAGR of 7.3% from 2021 to 2026. The most significant factors driving the growth of the industrial Ethernet market are 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.

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Services segment to register the highest CAGR during the forecast period

Service providers provide customized network design and other related services, such as long-term maintenance contracts of installations, to cater to the clients with specific requirements. They also provide remote support services for networks and can solve or manage network problems remotely. Companies such as Siemens AG (Germany) and General Electric (US) provide a separate services portfolio for this market.

Automotive & Transportation end-user industry accounted for the largest share of the industrial ethernet market in 2021

The rising cost of safety is a significant concern for the automotive industry, which has led to an increase in the deployment of industrial control and factory automation solutions in the industry. Product lifecycle management (PLM) is an industrial control and factory automation technology that helps to increase product lifecycle. PLM is the only choice for the automotive industry as it enables functional networking, advanced modeling, maintaining and validating, concept engineering, manufacturing, repairing, and disposing and recycling products. Automation in the automotive industry ensures sustainable mobility, autonomous driving, enhanced safety, high fuel efficiency, and reduced ownership cost of automobiles. Advancements in automobile manufacturing and high competition in the global market have led automobile manufacturers to invest strategically in their manufacturing infrastructure to gain the highest possible production output with minimal wastage. Thus, automobile manufacturers are investing significantly in the implementation of industrial ethernet solutions in their plants.

Asia Pacific to register the highest CAGR during the forecast period

Asia Pacific is one of the largest manufacturing hubs for automobile and electronics devices in the world. In response to the labor cost increasing year-on-year in the region, companies are increasingly adopting advanced automation systems to reduce the production cost. The high-quality standards have led companies to introduce factory automation, which requires a robust industrial communication network. These factors are collectively expected to boost the growth of the industrial ethernet market in APAC during the forecast period. There is an increasing awareness regarding new technologies and sensors for developing smart networks in the water and wastewater industries. This would help in the integration of new automation solutions in the water and wastewater utility plants and boost the growth of the APAC industrial ethernet market for the water and wastewater end-use industry.

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Major players in the industrial Ethernet market are Cisco (US), Siemens (Germany), Rockwell Automation (US), OMRON (Japan), Moxa (Taiwan), Huawei Technologies (China), SICK (Germany), Schneider Electric (France), Belden (US), Advantech (Taiwan), Mitsubishi Electric (Japan), Weidmuller (Germany), Honeywell (US), Hans Turck (US), GE Grid Solutions (France), Bosch Rexroth (Germany), HMS Networks (Sweden), ifm electronic (Germany), AAEON (Taiwan), and Beckhoff Automation (Germany).The top players have adopted merger & acquisition, partnership, collaboration, and product launch strategies to grow in the global industrial Ethernet market.

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This release was published on openPR.