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 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 Automation in Industrial Processes:
The increasing pursuit of efficiency, precision, and cost-effectiveness, prompting industries to adopt automated systems, is one of the major factors boosting market growth. In line with this, the widespread utilization of industrial ethernet networks in these systems to provide the necessary communication backbone that connects various automated components, such as sensors, actuators, controllers, and human-machine interfaces (HMIs), is fueling the market growth. Moreover, they facilitate real-time data exchange between devices, ensuring that automated processes are synchronized and optimized. Along with this, industrial ethernet networks offer scalability, allowing industries to expand their operations without significant overhauls of the communication infrastructure.
- Growing Need for Reliable and High-Speed Data Communication:
The rising ability of industrial ethernet to transmit large volumes of data quickly and reliably is acting as a growth-inducing factor. These networks ensure that data from sensors and controllers is transmitted instantly, allowing for immediate adjustments and interventions. Besides this, the increasing adoption of advanced applications by industries, such as predictive maintenance, machine learning (ML), and artificial intelligence (AI) that require large amounts of data to function effectively, is fueling the market growth. Additionally, industrial ethernet networks incorporate advanced protocols and technologies to protect data from corruption and unauthorized access, thereby propelling their use in industries that handle sensitive information and critical operations, such as the energy, defense, and healthcare sectors.
- Integration of the Internet of Things (IoT) Technologies in Industrial Settings:
The burgeoning integration of IoT technologies into industrial environments, such as smart sensors and connected machines, to generate vast amounts of data that can be analyzed to improve operational efficiency and decision-making is fostering the market growth. Moreover, the growing adoption of industrial ethernet as IoT devices requires a robust and reliable communication network to function effectively, which is catalyzing the market growth. Besides this, IoT technologies enable predictive maintenance by collecting and analyzing data from machines and equipment, boosting the adoption of industrial ethernet networks as they support the real-time transmission of this data, allowing for timely maintenance interventions.
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Industrial Ethernet Market Report Segmentation:
By Offering:
- Hardware
- Software
- Services
Hardware represented the largest segment due to the extensive need for reliable and durable networking equipment such as switches, routers, and cables to support robust and high-speed industrial communication networks.
By Protocol:
- EtherNet/IP
- EtherCAT
- PROFINET
- POWERLINK
- SERCOS III
- Others
PROFINET accounted for the largest market share due to its widespread adoption and versatility in supporting complex, real-time, and high-speed industrial automation 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 represented the largest segment owing to the industry's high demand for advanced automation, real-time data exchange, and robust communication networks to enhance production efficiency and vehicle performance.
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 the strong industrial base, technological advancements, and the early adoption of automation and smart manufacturing practices.
Global Industrial Ethernet Market Trends:
The increasing focus on industrial safety and security, driving the adoption of industrial ethernet as they provide robust security features, such as encryption and authentication, to protect sensitive data and prevent unauthorized access is enhancing the market growth. Furthermore, the development of smart grid technologies and advanced energy management systems, boosting the demand for industrial ethernet as these systems require reliable, high-speed communication networks to manage and distribute energy efficiently, is catalyzing the market growth. Moreover, the ongoing shift towards cloud computing in industrial applications, necessitating the need for robust and reliable communication networks, is fueling 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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