Press release
Industrial Ethernet Global Market Worth $63.91 Billion By 2028 Rapid Growth Predicted CAGR of 15.0% | Cisco Systems Inc., Siemens AG, Moxa Inc., Belden Inc., Analog Devices Inc.
Industrial Ethernet Global Market
Industrial Ethernet Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $63.91 billion In 2028 At A CAGR Of 15.0% :
The industrial ethernet market size has grown rapidly in recent years. It will grow from $32.01 billion in 2023 to $36.56 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to growth in industrial automation, adoption of ethernet for real-time communication, increase in industrial iot (iiot) deployments, demand for high-speed and reliable connectivity, emphasis on standardization of industrial communication protocols.
The industrial ethernet market size is expected to see rapid growth in the next few years. It will grow to $63.91 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to integration of time-sensitive networking (tsn) in industrial ethernet, expansion of industry 4.0 initiatives, increased adoption in smart manufacturing, growth in industrial edge computing, emphasis on cybersecurity in industrial networks. Major trends in the forecast period include adoption of gigabit and 10 gigabit ethernet in industrial applications, development of power over ethernet (poe) for industrial devices, use of single pair ethernet (spe) for simplified connectivity, integration of wireless communication in industrial ethernet networks, emphasis on network convergence in industrial communication systems.
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Industrial Ethernet Market Major Segments
The industrial ethernet market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Protocol: EtherCAT, EtherNet/IP, Profinet, Powerlink, Sercos III, CC-Link IE, Other Protocols
3) By Application: Oil and Gas, Aerospace and Defense, Energy and Power, Electrical and Electronics, Automotive and Transport, Chemicals, Other Applications
Key Driver - Smart Automobiles Fueling The Growth Of The Industrial Ethernet Market
The growing popularity of smart automobiles is expected to propel the growth of the industrial ethernet market going forward. The smart automobile is a technique that links directly to the vehicle's electronic control module to record, track, and manage multiple automobile control subsystems. Industrial ethernet is a reliable and significantly faster networking protocol that powers smart automotive technologies such as self-driving cars, vehicle-to-everything communication, advanced driver-assistance system (ADAS), infotainment systems, and others within the automobile industry. For instance, in April 2022, European Patent Office (EPO), a Germany-based administrative council, stated in their Patent Index 2021 that patent applications for two smart automobile technologies, such as hybrid drive control and electric propulsion, are increasing. In comparison to 2020, the hybrid drive control grew by 22.8% in 2021, and electric propulsion has increased by 15.1% since 2020. Therefore, the growing popularity of smart automobiles will drive the industrial ethernet market growth.
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Prominent Trend - Pioneering Technological Advancements Westermo's Next-Generation Industrial Ethernet Switch Platform
Technological advancement is a key trend gaining popularity in the industrial ethernet market. Major companies operating in the industrial ethernet sector are focused on innovative products to sustain their position. For instance, Westermo Network Technologies, a Sweden-based designer, and manufacturer of industrial data communications products, launched a next-generation industrial ethernet switch platform. This newly developed and advanced ethernet switch platform is suited for handling big data and industrial internet of things (IIoT) applications. The platform uses latest generation WeOS operating system that powers the new switch platform by maximizing the capability of the new hardware. It combines hardware, software, and network design support to provide improved capabilities, lower the total cost of ownership, and create dependable networks across a broader range of sectors.
Industrial Ethernet Market Players
Major companies operating in the industrial ethernet market report are Cisco Systems Inc., Siemens AG, Rockwell Automation Inc., Beckhoff Automation, Moxa Inc., Belden Inc., Huawei Technologies Co Ltd., Asea Brown Boveri Ltd., Schneider Electric SE, ACS Motion Control Ltd., Physik Instrumente GmbH, IFM Electronics GmbH., Analog Devices Inc., Yokogawa Electric Corporation, Eaton Corporation., Robert Bosch GmbH, Bosch Rexroth AG., Honeywell International Inc., Advantech Co. Ltd., B&R Automation, General Electric Pvt Ltd., Weidmuller, Arista Networks Inc., Mitsubishi Electric Corporation., Alta Industrial Motion, National Instruments Corporation., Omron Corporation., Parker Hannifin Corporation., Phoenix Contact
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the industrial ethernet market in 2023. North America was the second largest region of the industrial ethernet market share. The regions covered in the industrial ethernet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Ethernet Market Report Structure
3. Industrial Ethernet Market Trends And Strategies
4. Industrial Ethernet Market - Macro Economic Scenario
5. Industrial Ethernet Market Size And Growth
…..
27. Industrial Ethernet Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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