Press release
Industrial Ethernet Market Growth Accelerates: Strategic Forecast Predicts $75.35 Billion by 2029
Industrial Ethernet
What Will the Industrial Ethernet Industry Market Size Be by 2025?
The market size of industrial ethernet has experienced substantial growth in the past few years. It is projected to expand from $35.77 billion in 2024 to $40.44 billion in 2025, reflecting a compound annual growth rate (CAGR) of 13.0%. This significant increase during the historic period can be attributed to factors such as the rise in industrial automation, the use of ethernet for real-time communication, an uptick in industrial IoT (IIoT) implementations, the need for high-speed and reliable connectivity, and a focus on the standardization of industrial communication protocols.
What's the Long-Term Growth Forecast for the Industrial Ethernet Market Size Through 2029?
Expectations are high for the industrial ethernet market size to witness accelerated expansion in the upcoming years. Forecasts predict growth up to $75.35 billion by 2029, with a compound annual growth rate (CAGR) of 16.8%. Factors contributing to its expansion during this forecast period include the incorporation of time-sensitive networking (TSN) into industrial ethernet, the rollout of industry 4.0 initiatives, enhanced adoption in smart manufacturing, the rise of industrial edge computing, and a focus on cybersecurity within industrial networks. Significant forecast period trends encompass the adoption of gigabit and 10 gigabit ethernet within industrial contexts, the creation of power over ethernet (POE) suitable for industrial machines, the deployment of single pair ethernet (SPE) to simplify connectivity, the inclusion of wireless communication into industrial ethernet systems, and a spotlight on network convergence in industrial communication frameworks.
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What Are the Key Growth Drivers Fueling the Industrial Ethernet Market Expansion?
The increasing demand for smart vehicles is anticipated to fuel the expansion of the industrial ethernet market in the future. Smart vehicles utilize a method that connects directly to the vehicle's electronic control module to monitor, record, and control various car control subsystems. Industrial ethernet is a dependable and significantly faster networking protocol that enables smart automotive technologies such as autonomous cars, vehicle-to-everything communication, advanced driver-assistance system (ADAS), infotainment systems, and more within the car industry. For example, a U.S. Department of Transportation report predicts that autonomous vehicle sales in the U.S. will grow to 4.5 million units by 2025, a significant increase from the 0.1 million units in 2021. Consequently, the escalating demand for smart vehicles will bolster the growth of the industrial ethernet market.
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What Are the Key Trends Driving Industrial Ethernet Market Growth?
A prevailing pattern emerging in the industrial ethernet market is the accelerated development in technology. Leading corporations within this sector continually innovate in order to maintain their relevance. For instance, Westermo Network Technologies, an industrial data communications product designer and producer based in Sweden, recently debuted their next-generation platform for industrial ethernet switches. This newly-engineered and advanced platform caters to big data and industrial internet of things (IIoT) application requirements. The platform employs the latest WeOS operating system, enhancing the utility of the new hardware. By integrating hardware, software, and network design support, the platform heightens its overall capabilities, reduces total ownership cost, and forms reliable networks throughout an expanded range of industries.
How Is the Industrial Ethernet Market Segmented?
The industrial ethernet market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Protocol: EtherCAT, EtherNet Or 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
Subsegments:
1) By Hardware: Switches, Routers, Cables And Connectors, Network Interface Cards (NICs)
2) By Software: Network Management Software, Security Software, Monitoring And Diagnostic Software
3) By Services: Installation And Configuration Services, Maintenance And Support Services, Consulting Services
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Which Companies Are Leading the Charge in Industrial Ethernet Market Innovation?
Major companies operating in the industrial ethernet market include 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, Mitsubishi Electric Corporation., Alta Industrial Motion, National Instruments Corporation., Omron Corporation., Parker Hannifin Corporation., Phoenix Contact
Which Regions Are Leading the Global Industrial Ethernet Market in Revenue?
Asia-Pacific was the largest region in the industrial ethernet market in 2024.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
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