Industrial Ethernet Market growth Dynamics, Share Value, Size, Business Opportunities and Industry Forecast to 2027
Industrial Ethernet Market Overview
The current Industrial
Ethernet Market is predicted to account
for approximately USD 70.9 billion during the forecast period of 2025 and is
further estimated to meet at a 23.1% CAGR during the review period of 2019 to
2025.
Industrial
Ethernet applies to the use of networking devices, usually switches, in harsh
environments. As per the Industrial Ethernet Market Research report,
the global market is driving its growth due to the increasing adoption of the
Industrial Internet of Things (IIoT) in the process verticals and
manufacturing. Moreover, the an increasing need for reliable, fast, scalable,
and interoperable communication protocols among the industries. Additionally,
the global market has lucrative opportunities for manufacturers and market
players due to the emergence of 5G across various parts of the world.
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However,
the absence of standardization in industrial communication interfaces and
protocols might hamper the growth of the worldwide market during the review
period. Apart from that, the threats related to cyber security might bring
major challenges to the worldwide market in the upcoming years.
Market Segmentation
The Industrial
Ethernet Industry growth depends on the production potential and
revenue possessed by different functioning market segments in different parts
of the world. Thus, the global market is classified into different segments
such as offering, end-users, and protocol based on the division and market
trends of the target audience.
The
present market has been segregated into software and hardware services based on
offerings. The hardware service segment is projected to account for the
largest Industrial Ethernet Market Share during the
assessment period. The global market uses a series of protocols such as
POWERLINK, CC-Link IE, IP or Ethernet, Ether CAT, PROFINET, and SERCOS III
based on the protocol segment. The Ethernet or IP protocol segment is estimated
to account for the higher market share in the forecast period.
The
end-user segment has categorized the global market into automotive and transportation,
electronics, food and beverages, medical devices, water, energy, paper and
pulp, defense, aerospace, oil and gas, and mining. Automotive and
transportation are expected to generate the largest market share in the
assessment period.
Regional Analysis
Based
on the regional segment, the Industrial Ethernet Market Sizes growing,
including several regional markets such as Asia Pacific, Europe, North America,
Latin America, and the rest of the world.
The
Asia Pacific region is predicted to emerge as the largest manufacturing hub for
providing electronic and automobile services and the companies functioning due
to the market operations, demands, and ongoing trends.
Moreover,
the Asia Pacific regional market is expanding due to the growing adoption of advanced
manufacturing technologies in the factories and the rising adoption of the
smart factory concept among the manufacturing companies. Further, China is
slowly decreasing the Covid-19 patients, which has normalized the marketing
situation and improved manufacturing activities. This is predicted to grow the
market share during the forecast period.
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Industry News
In
June 2020, a home company called Moxa launched the MDS-G4000 Series industrial
DIN-rail modular that helps recognize the solutions and services of the next
levels associated with network versatility.
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