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The Industrial Ethernet market is forecasted to reach at US$ 65.3 Bn by 2028, growing at a CAGR of 12.6%.
The global industrial ethernet has witness remarkable growth since the last few years. The market is anticipated to grow at a substantial growth rate throughout the forecast period of 2019-2027. Some of the major factors for the growth of the global market include prominence of industrial internet of things, rising adoption of industry 4.0 among several verticals, and growing infrastructure spending.
Increase in Infrastructure Spending is anticipated to drive the demand for Industrial Ethernet during the Forecast Period
The major factor for the growth of global industrial ethernet market is increasing infrastructure spending to enhance performance and network flexibility across the globe. The rising need for cost-efficient network facilities, higher bandwidth, interoperability, and easy scalability promotes the growth of the industrial ethernet market. Moreover, the manufacturers are continuously involved in research and development activities to cater the rising demand from different verticals and develop innovative products. For instance, in August 2018, one of the leading companies operating in global market Antaira Technologies announced the launch of the IMC-C100-XX series. The launch was intended to expand their portfolio and enhance their customer base across the globe. This is anticipated to create new opportunities for the growth of global industrial ethernet market during the forecast timespan.
Controllers & processors held key Share in Global Industrial Ethernet Market in 2019
On the basis of component, controllers & processors segment dominates the global market by holding significant market share in 2019. The dominance of the segment can be credited to a large scale of integration and ease of design. The controllers are very powerful, compact, and optimized devices and help to minimize the overall material cost. Additionally, the companies are highly investing in research and development activities intended to develop advanced products. For instance, in July 2017, Texas Instruments, one of the leading semiconductor company announced the launch of a new system on chip (SoC) processor branded as Sitara AMIC110.
On the other hand, the maintenance service is expected to show prominent growth in the coming years. The automation technology failures are leading to a huge loss for manufacturers which is often occurred due to worn-out ethernet wires. Therefore, to reduce the risk of these failure manufacturers do time-to-time maintenance services which are anticipated to drive the growth of the segment.
TCP/IP Segment Held Significant Share in 2019
Based on the network protocol, the TCP/Ip segment held a substantial share in 2019. The segment is estimated to show noteworthy growth in the coming years. These components are majorly being used at manufacturing units from various sectors as it does not require any heavy investment.
Chemical Segment is estimated to Witness Highest Growth Rate during the Forecast Period
By end-use industry, the electronics and automotive sectors are anticipated to hold a significant share in 2018. This is due to the supportive government initiatives adoption of IIoT and extension and modernization of infrastructure and power generation for several verticals.
Furthermore, the chemical segment is estimated to growth at a highest CAGR between 2019-2027. The industrial ethernet provides excellent performance in hazardous environment and resistant to harsh materials, fats, oil, and acids. These factors result in rising adoption of these ethernets in chemical industry which is anticipated to fuel the growth of the segment.
North America is anticipated to be The Dominant Region
By Region, North America held the largest market share and anticipated to dominate the global market over the forecast period. The supporting regional government initiatives to promote the adoption of industry 4.0 favour the growth of the region. Moreover, the presence of prominent players in the region is estimated to fuel the regional market growth.
Asia Pacific is anticipated to grow at a fastest compound annual growth rate. The growing consumer electronics in Asia Pacific is anticipated to poise a positive impact on the growth of the industrial ethernet market in the region.
The global almond ingredient market is highly competitive as the market is fragmented with several global and regional players. The companies are focused on the expansion of their operations by strategic merger and acquisition with different regional and multinational players.
In September 2018, NXP Semiconductors N.V. announced the acquisition of OmniPHY, a leading provider of ethernet subsystem solutions. The acquisition is expected to create new opportunities for the company growth in the industrial ethernet market.
Some of the prominent companies operating in global Industrial Ethernet market include ACS Motion Control, Moxa, Cisco, Innovasic, ABB, Eaton, Rockwell Automation, Omron, Siemens, Honeywell International, Schneider Electric, Advanced Motion Control, and Beckhoff Automation.
Global Industrial Ethernet Market by Offering
- Hubs, routers & gateways
- Controller & processors
- Communication interface
- Maintenance service
- Installation & testing service
Global Industrial Ethernet Market by Network Protocol
- Sercos III
- Modbus TCP/IP
Global Industrial Ethernet Market by End-Use Industry
- Energy & Utility
- Aerospace & Defence
- Oil & gas
- Electrical & electronics
Global Industrial Ethernet Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America