PUBLISHER: The Business Research Company | PRODUCT CODE: 1392715
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392715
“Industrial Ethernet Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial ethernet market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial ethernet? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The industrial ethernet market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Industrial Ethernet (IE) involves the application of Ethernet in an industrial setting, employing deterministic and real-time control methods. It utilizes standard Ethernet hardware and internet protocols, augmented with a proprietary application layer to ensure deterministic and real-time control capabilities for industrial operations.
The primary offerings in industrial Ethernet include hardware, software, and services. Hardware components encompass recording devices, central processing units (CPUs), transmitters, and receivers. In the context of industrial automation, hardware refers to the physical components crucial for various communication services. Industrial Ethernet utilizes different protocols, including EtherCAT, Ethernet/IP, Profinet, Powerlink, Sercos III, CC-Link IE. These protocols find application across various industries such as oil and gas, aerospace and defense, energy and power, electrical and electronics, automotive and transport, chemicals, and others. The use of Industrial Ethernet in these sectors ensures reliable and efficient communication for industrial automation and control systems.
The industrial ethernet market research report is one of a series of new reports from The Business Research Company that provides industrial ethernet market statistics, including industrial ethernet industry global market size, regional shares, competitors with an industrial ethernet market share, detailed industrial ethernet market segments, market trends and opportunities, and any further data you may need to thrive in the industrial ethernet industry. This industrial ethernet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 during the historical period can be attributed to factors such as the expansion of industrial automation, the adoption of Ethernet for real-time communication, the increase in Industrial Internet of Things (IIoT) deployments, the demand for high-speed and reliable connectivity, and an emphasis on the 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 anticipated growth in the forecast period can be attributed to several factors, including the integration of Time-Sensitive Networking (TSN) in Industrial Ethernet, the expansion of Industry 4. 0 initiatives, increased adoption in smart manufacturing, growth in industrial edge computing, and an emphasis on cybersecurity in industrial networks. Noteworthy trends expected in the forecast period encompass the adoption of gigabit and 10 gigabit Ethernet in industrial applications, the development of Power over Ethernet (PoE) for industrial devices, the use of Single Pair Ethernet (SPE) for simplified connectivity, the integration of wireless communication in Industrial Ethernet networks, and a focus on network convergence in industrial communication systems.
The anticipated surge in the industrial ethernet market is driven by the increasing popularity of smart automobiles. Smart automobiles, integrating directly with the vehicle's electronic control module for monitoring and managing various control subsystems, rely on industrial ethernet as a reliable and faster networking protocol. This technology supports advancements in the automotive industry, including self-driving cars, vehicle-to-everything communication, advanced driver-assistance systems (ADAS), and infotainment systems. The European Patent Office reported a significant rise in patent applications for smart automobile technologies, such as hybrid drive control and electric propulsion, indicating a growing trend in the industry. Consequently, the industrial ethernet market is poised for growth due to the increasing prevalence of smart automobiles.
The adoption of 5G is set to drive the growth of the industrial ethernet market. The fifth generation of mobile telecommunications, 5G, offers enhanced wireless technology with faster data speeds, lower latency, greater capacity, and improved reliability. This advancement benefits Industrial Ethernet (IE) by providing fast, low-latency, and reliable wireless connectivity. The widespread adoption of 5G, as evidenced by a 76% increase in global 5G wireless connections from the end of 2021 to the end of 2022, contributes to real-time data transfer, high-bandwidth application support, and facilitates edge computing. The rising adoption of 5G is expected to be a key driver for the growth of the industrial ethernet market.
Technological advancement emerges as a prominent trend in the industrial ethernet market, with major companies focusing on innovative products to sustain their positions. For instance, Westermo Network Technologies introduced a next-generation industrial ethernet switch platform designed to handle big data and industrial internet of things (IIoT) applications. This advanced platform utilizes the latest WeOS operating system, maximizing hardware capabilities, improving network capabilities, and lowering the total cost of ownership across various sectors.
Major players in the industrial ethernet market are emphasizing the introduction of innovative products such as industrial edge management systems to maintain their market standing. An Industrial Edge Management System, also known as an Industrial Edge Platform, is a technology platform and software ecosystem managing and optimizing the deployment of edge computing devices and applications within industrial settings. Siemens, a German-based automation company, launched its new Industrial Edge Management System, offering an optimized license management solution, new devices, and apps. This solution facilitates the seamless flow of data from the field level to the cloud, bringing operational technology (OT) and IT closer together in industrial production.
In October 2022, HMS Industrial Networks AB, a Swedish subsidiary of HMS Networks AB, acquired 70% of all shares of Procentec B. V., a Netherlands-based company specializing in products for the industrial automation market. This strategic acquisition fills gaps in communication infrastructure for HMS Industrial Networks AB, enhancing its capabilities within industrial networks, including PROFIBUS, PROFINET, EtherNet/IP, and other industrial Ethernet standards.
Major companies operating in the 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
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 countries covered in the industrial ethernet market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The industrial ethernet (IE) market consists of revenues earned by entities by providing IE services such as internet communication services, device network services, network, and security control. The market value includes the value of related goods sold by the service provider or included within the service offering. The industrial ethernet market also includes sales of programmable logic controller (PLCs), local and distributed input/output, servo controllers and drives which are used in providing IE services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.