Industrial Ethernet Market Scenario:
The industrial Ethernet market 2020 is supposed to scale new heights due to rising investments. Ethernet is a networking technology generally used for local area networks (LAN). Increasing deployment of Internet of Things (IIoT) in the industrial sector has led to the demand for efficient networking technologies. This, in turn, is poised to support the growth of the industrial Ethernet market in the upcoming years. Market Research Future (MRFR)’s recent assessment has disclosed that the global industrial Ethernet market is poised to mark 23.1% CAGR across the review period 2019 to 2025. The report also unveils that the industrial Ethernet market size is presumed to reach USD 70.9 Bn by the close of 2025.
The advent of Industrial Ethernet Market has revolutionized the entire industrial sector. In order to capitalize on the benefits of technology, more and more industries are moving towards IoT. These factors are projected to pave the way for the development of the industrial Ethernet market. The higher degree of efficiency required by industries to sustain the growth curve is also poised to lead the augmentation of the industrial Ethernet market in the foreseeable future. Also, the enterprises are required to invest in security platforms in order to respond to security threats. These factors intensify the need for efficient networking technology, thus, augmenting the industrial Ethernet market.
Rising popularity of process automation is one of the major factors of the growth of the industrial Ethernet market. Furthermore, the product helps in reducing the downtime, which is another driver of the market. Governments are also taking initiatives to promote digitization. It is supposed to influence the growth pattern of the industrial Ethernet market greatly. However, high capital requirement remains an impediment to growth.
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Beckhoff Automation GmbH & Co. KG (Germany), Rockwell Automation, Inc. (US), Cisco Systems, Inc. (US), Schneider Electric (France), ACS Motion Control (Israel), Belden Inc. (US), General Electric (US), Analog Devices, Inc (US), ABB (Switzerland), Bosch Rexroth AG (Germany), B&R (Austria), OMRON Corporation (Japan), Moxa Inc. (Taiwan), Eaton (Ireland), and Yokogawa Electric Corporation (Japan) are the players that hold key industrial Ethernet market share.
- On the basis of component, the segments covered in the industrial Ethernet market analysis are hardware, services, and software. The sub-segments of the hardware segment are power supply devices; switches; connectors; communication interface; hubs, router, and gateway; and controller and processors. Again, the sub-segmentation of the service segment covers maintenance services and installation & testing services.
- Based on protocol, the segments of the industrial Ethernet market covered in the report are EtherCAT, HSE, Ethernet/IP, Sercos III, Modbus TCP/IP, Ethernet TCP/IP, Gigabit Wi-Fi, Powerlink, and CC-Link IE.
- On the basis of industry vertical, the industrial Ethernet market has been segmented into automotive, aerospace & defense, pharmaceutical, energy & power, oil & gas, chemical, food & beverages, and others.
The geographical evaluation of the global industrial Ethernet market is covered in this MRFR analysis. The regions covered are – North America, the Middle East & Africa (MEA), Asia-Pacific, Europe, and South America. A detailed assessment of each of the segments is also included based on countries.
North America is a major region and is presumed to account for the maximum share. Consolidation of players in the region is presumed to augment the regional market. Also, the technical brilliance of the region is supposed to drive the growth of the industrial Ethernet industry. Asia Pacific is assumed to register the highest rate of growth. Increasing penetration of IoT devices is anticipated to catapult the industrial Ethernet market in the region on upward trajectory. China, India, and Japan are expected to catalyze market growth.
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