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Industrial Ethernet Market worth USD 13.8 Billion – Global Forecast 2026

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Industrial Ethernet Market worth USD 13.8 Billion – Global Forecast 2026

August 10
19:26 2022
Industrial Ethernet Market worth USD 13.8 Billion - Global Forecast 2026
Industrial Ethernet Market
The industrial ethernet market was valued at USD 9.2 billion in 2020 and is projected to reach USD 13.7 billion by 2026. It is expected to grow at a CAGR of 7.3% during the forecast period.

The global industrial ethernet market is projected to grow from USD 9.7 billion in 2021 to USD 13.8 billion by 2026; it is expected to grow at a CAGR of 7.3% from 2021 to 2026. The most significant factors driving the growth of the industrial ethernet market are 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.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=198318524

MarketsandMarkets: The global industrial ethernet market to reach USD 13.8 billion by 2026; at a CAGR of 7.3% from 2021 to 2026.

Browse through more than 85 market data tables and more than 40 figures presented in 200 pages and an in-depth TOC on the industrial ethernet market.
Early buyers will receive 10% customization on reports.

Industrial Ethernet Market

Services segment to register the highest CAGR during the forecast period

Service providers provide customized network design and other related services, such as long-term maintenance contracts of installations, to cater to the clients with specific requirements. They also provide remote support services for networks and can solve or manage network problems remotely. Companies such as Siemens AG (Germany) and General Electric (US) provide a separate services portfolio for this market.

Automotive & Transportation end-user industry accounted for the largest share of the industrial ethernet market in 2021

The rising cost of safety is a significant concern for the automotive industry, which has led to an increase in the deployment of industrial control and factory automation solutions in the industry. Product lifecycle management (PLM) is an industrial control and factory automation technology that helps to increase product lifecycle. PLM is the only choice for the automotive industry as it enables functional networking, advanced modeling, maintaining and validating, concept engineering, manufacturing, repairing, and disposing and recycling products. Automation in the automotive industry ensures sustainable mobility, autonomous driving, enhanced safety, high fuel efficiency, and reduced ownership cost of automobiles. Advancements in automobile manufacturing and high competition in the global market have led automobile manufacturers to invest strategically in their manufacturing infrastructure to gain the highest possible production output with minimal wastage. Thus, automobile manufacturers are investing significantly in the implementation of industrial ethernet solutions in their plants.

Asia Pacific to register the highest CAGR during the forecast period

Asia Pacific is one of the largest manufacturing hubs for automobile and electronics devices in the world. In response to the labor cost increasing year-on-year in the region, companies are increasingly adopting advanced automation systems to reduce the production cost. The high-quality standards have led companies to introduce factory automation, which requires a robust industrial communication network. These factors are collectively expected to boost the growth of the industrial ethernet market in APAC during the forecast period. There is an increasing awareness regarding new technologies and sensors for developing smart networks in the water and wastewater industries. This would help in the integration of new automation solutions in the water and wastewater utility plants and boost the growth of the APAC industrial ethernet market for the water and wastewater end-use industry.

Major players in the industrial ethernet market are Cisco (US), Siemens (Germany), Rockwell Automation (US), OMRON (Japan), Moxa (Taiwan), Huawei Technologies (China), SICK (Germany), Schneider Electric (France), Belden (US), Advantech (Taiwan), Mitsubishi Electric (Japan), Weidmuller (Germany), Honeywell (US), Hans Turck (US), GE Grid Solutions (France), Bosch Rexroth (Germany), HMS Networks (Sweden), ifm electronic (Germany), AAEON (Taiwan), and Beckhoff Automation (Germany). The top players have adopted merger & acquisition, partnership, collaboration, and product launch strategies to grow in the global industrial ethernet market.

Study Coverage:

The report describes the detailed information regarding the major factors such as drivers, restraints, challenges, and opportunities influencing the growth of the industrial ethernet market. It also includes technology trends, trade data, and patent analysis. This research report categorizes the industrial ethernet market based on offering, end-use industry, protocol, and geography. A detailed analysis of the key industry players was carried out to provide insights into their business overviews; solutions and services offered; key strategies adopted that include new product; mergers; and partnerships, agreements, and collaborations, and recent developments associated with the industrial ethernet market.

Brief information on the research methodology for the report can be found in the report description provided on the website.

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