IMARC Group, a leading market research company, has recently released a report titled "Industrial Ethernet Market Report by Offering (Hardware, Software, Services), Protocol (EtherNet/IP, EtherCAT, PROFINET, POWERLINK, SERCOS III, and Others), End User (Automotive and Transportation, Electrical and Electronics, Pharmaceutical and Medical Devices, Aerospace and Defense, Energy and Power, Oil and Gas, Food and Beverages, and Others), and Region 2024-2032". The study provides a detailed analysis of the industry, including the global industrial ethernet market trends, size, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global industrial ethernet market size reached US$ 11.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 20.2 Billion by 2032, exhibiting a growth rate (CAGR) of 6.29% during 2024-2032.
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Factors Affecting the Growth of the Industrial Ethernet Industry:
- Increasing Demand for Industrial Automation:
The rising industrial automation as companies adopt automation technologies to enhance operational efficiency, productivity, and precision is catalyzing the market growth. Industrial ethernet facilitates seamless communication between various automation components, such as sensors, actuators, controllers, and software systems. Moreover, the increasing need among industries to minimize human intervention, reduce errors, and optimize production cycles, propelling the integration of industrial ethernet, is positively impacting the market growth. Additionally, the growing trend of smart manufacturing and Industry 4.0 initiatives that emphasize the use of advanced technologies like the Internet of Things (IoT), artificial intelligence (AI), and big data analytics, which rely on robust and efficient communication networks, is favoring the market growth.
- Rising Focus on Enhanced Performance and Reliability:
The growing utilization of industrial ethernet due to its superior performance and reliability is enhancing the market growth. Moreover, the rising need for networking solutions in industrial environments that can withstand extreme conditions, such as high temperatures, electromagnetic interference, and vibrations, is boosting the market growth. Industrial ethernet is specifically designed to meet these challenges, offering robust and durable hardware that ensures uninterrupted and stable communication. Additionally, they provide high-speed data transmission, low latency, and deterministic communication, which are crucial for real-time control and monitoring applications. Furthermore, industrial ethernet supports advanced protocols and redundancy mechanisms that enhance network resilience and fault tolerance.
- Heightened Awareness of Scalability and Flexibility of Industrial Ethernet:
The heightened scalability and flexibility offered by industrial ethernet are significant factors driving the market growth. Industrial operations require networking solutions that can adapt to changing demands and expand as the business grows. Industrial ethernet networks can be easily scaled to accommodate additional devices, machinery, and production lines without extensive reconfiguration or downtime. Furthermore, they support various topologies, such as star, ring, and mesh, providing the flexibility to design networks that best suit the specific requirements of an industrial application. Additionally, industrial ethernet is compatible with a wide range of industrial protocols and standards, facilitating seamless integration with existing systems and equipment.
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Industrial Ethernet Market Report Segmentation:
By Offering:
- Hardware
- Software
- Services
Hardware accounted for the largest market share due to the critical need for robust, reliable, and high-performance physical components to support demanding industrial environments.
By Protocol:
- EtherNet/IP
- EtherCAT
- PROFINET
- POWERLINK
- SERCOS III
- Others
PROFINET represented the largest segment owing to its widespread adoption, flexibility, and strong support for real-time communication in various industrial applications.
By End User:
- Automotive and Transportation
- Electrical and Electronics
- Pharmaceutical and Medical Devices
- Aerospace and Defense
- Energy and Power
- Oil and Gas
- Food and Beverages
- Others
Automotive and transportation constituted the largest segment owing to its extensive use of automation, requiring reliable and high-speed communication networks for efficient and precise operations.
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Europe’s dominance in the industrial ethernet market is attributed to its advanced manufacturing sector, strong emphasis on Industry 4.0 initiatives, and robust infrastructure investments.
Global Industrial Ethernet Market Trends:
The emergence of time-sensitive networking (TSN), which is designed to provide deterministic communication over ethernet networks, ensuring that data is transmitted with minimal delay and jitter, is fueling the market growth. The burgeoning integration of industrial ethernet with fifth-generation (5G) technology that enhances network performance, offering ultra-low latency and high bandwidth essential for real-time industrial applications, is catalyzing the market growth. Besides this, the increasing threat of cyber-attacks on industrial networks, leading to a heightened focus on cybersecurity within industrial ethernet solutions, is bolstering the market growth.
Top Companies Operated in Industrial Ethernet Industry:
- ABB Ltd.
- Advantech Co. Ltd.
- Beckhoff Automation, Belden Inc.
- Cisco Systems Inc.
- Honeywell International Inc.
- Moxa Inc.
- OMRON Corporation
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Weidmüller GmbH & Co KG
Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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