Global Industrial Ethernet Market Statistics, Insights and Updates 2023
Summary - A new market study, titled “ Global Industrial Ethernet Market Research Report - Forecast to 2023” has been featured on WiseGuyReports.
Industrial Ethernet is a communication device that uses the EtherNet/IP, PROFINET, EtherCAT, Modbus TCP, POWERLINK, Sercos III, and CC-Link IE industrial protocols. These protocols allow for real-time control over network communication in the automotive, electrical and electronics, aerospace and defense, and oil & gas industries, among others.
Data centers store large quantities of data from more than 100 billion web pages over 100 million websites accessing by billions every day. Consequently, a surge in data traffic leads to an increase in the demand for data centers by enterprises of all sizes. Through data centers, companies ensure and provide seamless connectivity to end users. Fiber optic cables, electrical backplanes, and active assemblies are some of the components of Ethernet networking and connectivity used in data centers to ensures seamless communication between systems. For instance, Facebook is building its own fiber optic network to link its data centers to an underground 200-mile fiber optic cable that would increase efficiency by 50%. In this regard, the expansion of data centers is expected to be one of the influencing factors for the growth of the global industrial Ethernet market during the forecast period. Furthermore, the high adoption of Ethernet in industrial automation and fiber to the home (FTTH) broadband Internet are also projected to drive market growth during the assessment period.
Security concerns and the higher cost of transition to new Ethernet protocols are expected to limit the growth of the global industrial Ethernet market during the forecast period,
Key Players
Some of the key players in the global industrial Ethernet market are Beckhoff Automation (Germany), Cisco Systems Inc. (US), Rockwell Automation, Inc. (US), Schneider Electric (France), ABB Group (Switzerland), Belden Incorporated (US), Bosch Rexorth AG (Germany), ACS Motion Control Ltd (Israel), and General Electric Company (US).
Key Findings
• The global industrial Ethernet market is expected to reach USD 40.6 billion by the end of 2023.
• The hardware component segment of the global industrial Ethernet market is expected to be the largest during the forecast period, with the switches sub-segment accounting for the largest projected market share.
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• The IT services segment is likely to be the fastest-growing market during the assessment period.
• By protocol type, the EtherNet/IP segment accounted for the largest market share in 2017 and is expected to be the fastest-growing industrial Ethernet market during the assessment period.
• The market in Asia-Pacific is projected to be the largest, while the North American market is likely to be the fastest-growing industrial Ethernet market during the forecast period.
Segmentation
The global industrial Ethernet market has been segmented by component, protocol type, and end user.
Based on component, the global industrial Ethernet market has been segregated into hardware, software, and services. The hardware segment has been further divided into switches, connectors, sensors, and others. The services segment has been further classified as system integration and training services, monitoring services, and IT services.
The protocol type segments of the global industrial Ethernet market are EtherNet/IP, PROFINET, EtherCAT, Modbus TCP, POWERLINK, Sercos III, and CC-Link IE.
Based on end user, the global industrial Ethernet market has been segmented into automotive, electrical and electronics, aerospace and defense, oil & gas, mining, chemicals, and others.
Regional Analysis
The global industrial Ethernet market has been studied with respect to four regions, namely North America, Asia-Pacific, Europe, and the rest of the world.
Asia-Pacific led the industrial Ethernet market in 2017 with the largest market share. The region has a large application market for industrial Ethernet in broadband and fiber optics and is an emerging market for data centers, which is expected to influence the growth of industrial Ethernet market in Asia-Pacific during the forecast period. North America is likely to be the fastest-growing industrial Ethernet market. This growth can be attributed to the high adoption rate of data center infrastructure, increasing demand for high-speed networking, and significant growth of the communications industry.
Target Audience
• Industrial Ethernet system and component manufacturers
• Research organizations and consulting companies
• Associations, forums, and alliances related to industrial Ethernet
• Industrial Ethernet software providers
• Investors
• Start-up companies
• Raw material suppliers
• Government and other regulatory bodies
• Market research and consulting firms
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