Industrial Ethernet Market to See Huge Growth through 2026

Posted June 21, 2022 by ctom7000

Automotive & Transportation are the Largest End-Use Industries of Industrial Ethernet
The industrial ethernet market valued USD 13.7 billion by 2026 from USD 9.2 billion in 2020; growing at a CAGR of 7.3% during the forecast period. 

Growing need for scalable, fast, reliable, and interoperable communication protocols, increasing initiatives by governments of developing countries to promote adoption of industrial automation, and growing popularity of smart automobiles are contributing to the growth of the industrial ethernet market. Rising adoption of 5G to act as a growth opportunity for the market players.

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Hardware segment to account for a largest share of the industrial ethernet market by 2026

The hardware segment is expected to hold the largest share of the industrial ethernet market. Devices such as IP phones and PCs are connected to the internet to enable rapid communication in industries. Machine-to-machine (M2M) communication in the industrial environment helps facilitate efficient plant operations. It accelerates operations and ensures higher reliability and robustness across various industries, such as automotive, transportation, aerospace & defense, pharmaceutical, and food & beverage.

EtherNet/IP protocol accounted for the largest market share in 2020

Ethernet/IP is an industrial ethernet protocol developed by Rockwell Automation, Inc. (US) in 1990. It is now managed by the Open DeviceNet Vendors Association (ODVA). Ethernet/IP is one of the leading industrial protocols and is widely used in various industries, including hybrid and process. As Ethernet/IP uses standard ethernet and switches, it can have hundreds of nodes in a system. This allows for the use of a single network across many different endpoints on a factory floor.

It facilitates users with the tools to deploy standard ethernet technology (IEEE 802.3 combined with the TCP/IP Suite) in industrial automation applications, enabling the availability of internet and enterprise connectivity at different locations.

Automotive & Transportation end-use industry accounted for the largest market share in 2020

Automotive is one of the largest end-use industries of industrial ethernet and is expected to continue to dominate the market due to the growing need for advanced automation in automobile manufacturing hubs worldwide. Likewise, water level monitoring sensors, AC drives, and controllers are the crucial components of water treatment systems, and an industrial ethernet network is used to facilitate communication among these systems. The automotive industry continues to evolve at an impressive pace with the adoption of automation and connectivity.

APAC to account for the largest market share during the forecast period

APAC is currently the largest manufacturing hub for the automobile and electronic companies. To compete with other global players, the companies in APAC use advanced automation systems, which require highly reliable communication networks for machine-to-machine (M2M) communication in their plants. The manufacturing companies in APAC extensively adopt the smart factory concept for implementing advanced manufacturing technologies on the factory floor. This innovative concept has transformed the manufacturing sector in APAC and has increased the implementation of smart automation in factories. The growing acceptance of Industrial Revolution 4.0 in APAC is also a factor driving the growth of the regional market.

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Key Market Players

Include  Cisco (US), Siemens (Germany), Rockwell Automation (US), Omron (Japan), and Moxa (Taiwan)  are among the major players in the industrial ethernet market.

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Issued By Tom
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Tags industrial ethernet market
Last Updated June 21, 2022