The industrial ethernet global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Industrial Ethernet Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The industrial ethernet market size has grown rapidly in recent years. It will grow from $32.01 billion in 2023 to $36.56 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to growth in industrial automation, adoption of ethernet for real-time communication, increase in industrial iot (iiot) deployments, demand for high-speed and reliable connectivity, emphasis on standardization of industrial communication protocols.
The industrial ethernet market size is expected to see rapid growth in the next few years. It will grow to $63.91 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to integration of time-sensitive networking (tsn) in industrial ethernet, expansion of industry 4.0 initiatives, increased adoption in smart manufacturing, growth in industrial edge computing, emphasis on cybersecurity in industrial networks. Major trends in the forecast period include adoption of gigabit and 10 gigabit ethernet in industrial applications, development of power over ethernet (poe) for industrial devices, use of single pair ethernet (spe) for simplified connectivity, integration of wireless communication in industrial ethernet networks, emphasis on network convergence in industrial communication systems.
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Scope Of Industrial Ethernet Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The growing popularity of smart automobiles is expected to propel the growth of the industrial ethernet market going forward. The smart automobile is a technique that links directly to the vehicle’s electronic control module to record, track, and manage multiple automobile control subsystems. Industrial ethernet is a reliable and significantly faster networking protocol that powers smart automotive technologies such as self-driving cars, vehicle-to-everything communication, advanced driver-assistance system (ADAS), infotainment systems, and others within the automobile industry. For instance, in April 2022, European Patent Office (EPO), a Germany-based administrative council, stated in their Patent Index 2021 that patent applications for two smart automobile technologies, such as hybrid drive control and electric propulsion, are increasing. In comparison to 2020, the hybrid drive control grew by 22.8% in 2021, and electric propulsion has increased by 15.1% since 2020. Therefore, the growing popularity of smart automobiles will drive the industrial ethernet market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The industrial ethernet market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Protocol: EtherCAT, EtherNet/IP, Profinet, Powerlink, Sercos III, CC-Link IE, Other Protocols
3) By Application: Oil and Gas, Aerospace and Defense, Energy and Power, Electrical and Electronics, Automotive and Transport, Chemicals, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the industrial ethernet market in 2023. North America was the second largest region of the industrial ethernet market share. The regions covered in the industrial ethernet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the industrial ethernet market report are Cisco Systems Inc., Siemens AG, Rockwell Automation Inc., Beckhoff Automation, Moxa Inc., Belden Inc., Huawei Technologies Co Ltd., Asea Brown Boveri Ltd., Schneider Electric SE, ACS Motion Control Ltd., Physik Instrumente GmbH, IFM Electronics GmbH., Analog Devices Inc., Yokogawa Electric Corporation, Eaton Corporation., Robert Bosch GmbH, Bosch Rexroth AG., Honeywell International Inc., Advantech Co. Ltd., B&R Automation, General Electric Pvt Ltd., Weidmuller, Arista Networks Inc., Mitsubishi Electric Corporation., Alta Industrial Motion, National Instruments Corporation., Omron Corporation., Parker Hannifin Corporation., Phoenix Contact
Table of Contents
1. Executive Summary
2. Industrial Ethernet Market Report Structure
3. Industrial Ethernet Market Trends And Strategies
4. Industrial Ethernet Market – Macro Economic Scenario
5. Global Industrial Ethernet Market Size and Growth
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31. Global Industrial Ethernet Market Competitive Benchmarking
32. Global Industrial Ethernet Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Industrial Ethernet Market
34. Industrial Ethernet Market Future Outlook and Potential Analysis
35. Appendix
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