Pune, India -- (SBWire) -- 11/30/2017 --Global Industrial Ethernet Market, Component (Software, Hardware, Services), Protocol Type (PROFINET, POWERLINK, EtherCAT, Modbus/TCP, Ethernet/IP), Application (Electronics, Defense, Industrial, Automotive, Pharmaceutical, Aerospace) - Forecast till 2023
Market Synopsis of the Global Industrial Ethernet Market
Industrial ethernet is the use of ethernet cable in the industrial application to provide real time control over the network communication. With advancement in process control or industrial automation, as the major driving factor in growth of industrial ethernet market, the global industrial ethernet market is expected to grow significantly during the forecasted period. The increased adoption of industrial automation in various industrial sectors to improve the production efficiency, product quality minimizing the errors in production is driving the market. The automation is driving the companies to implement smart factory techniques using industrial ethernet. Another factor driving the market is rise in implementation of Industrial Internet of Things (IIoT). IIoT is a connected network of devices, with sensors, data analytics, and cloud infrastructure helping to connect the imbalanced infrastructure and reducing the operating cost by allowing real time flow of information across the production value chain, minimizing the unnecessary breakdowns. Ethernet offer numerous advantages over dedicated automation networks like superior bandwidth and constant up-gradation, creating a constant demand for Ethernet cables from various industrial sectors for the application of IIoT.
Segmentation
The Global Industrial Ethernet Market is segmented into components, protocol type, application and region. On the basis of component, the market is segmented into hardware, software and services. Out of these, the hardware is having the largest hold of market share of industrial Ethernet market. The hardware components includes gateways, routers, switches and much more which play a significant role in the data packet communication. Additionally, the software component adds as an interface between the end users/ports to send, receive, configure and manage these devices. The major factor that drives the growth of the industrial Ethernet is because of the advancement in Industrial Internet of Things (IIoT) and connected devices. Companies, nowadays are moving their business to cloud and data centers which requires secure, faster and reliable connection by implementing proper protocol.
On the basis of protocol type, the market is segmented into PROFINET (Process Field Network), POWERLINK, EtherCAT (Ethernet for Control Automation Technology, Modbus/TCP (Transmission Control Protocol), Ethernet/IP (Internet Protocol), CC-Link IE and Sercos III. Out of all these protocols, the PROFINET is widely used in the industrial Ethernet applications and is also expected to grow at a fast pace. This growth is accounting to the factors such as increased network coverage, increased quality of transmission and growing bandwidth capacity. PROFINET is a technical standard for data communication over industrial Ethernet. The PROFINET is designed to collect and control the data from the equipment to deliver it under tight time constraint. Additionally, POWERLINK follows the PROFINET in industrial Ethernet growth.
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On the basis of application, the market is segmented into electronics, defense, industrial, automotive, pharmaceuticals, aerospace, oil & gas, food & beverage, and water & waste water. Ethernet in industries are used generally for automation or process control providing determinism and real time control. Out of these end users, electronics and automotive hold the largest market share of the industrial Ethernet. Also, the automotive industry continue to dominate the market, because of the adoption of automation or process control from assembly line, to component manufacturing. With the increase in IIoT, the application of industrial Ethernet is expected to grow significantly in every sector.
Regional Analysis
By regions, the market is segmented into North America, Europe, Asia Pacific and rest of the world. The market for industrial Ethernet is expected to grow in every region because of increased adoption of cloud technology, deployment of data centers across the globe and transformation towards process control and automation. Out of these regions, the Asia Pacific is dominating the industrial Ethernet market by region and continues to dominate during the forecasted period. This is majorly due to the rich presence of consumer electronics, electronic component manufacturing and emerging automobile industries in countries like China, Japan, India, South Korea and Taiwan. Following Asia Pacific, is the North America and Europe. These regions are already mature in terms of advancement in industrial automation and therefore in application of industrial Ethernet. Also, countries such as U.S., Canada, U.K, Germany and France have a rich presence of Automotive, Oil & Gas, Aerospace and defense industries.
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Key Players
Some of the key players in the industrial Ethernet market: Beckhoff Automation (Germany), Cisco Systems, Inc (U.S.), Rockwell Automation, Inc (U.S.), Schneider Electric SE (France), ABB Group (Switzerland), B&R Industrial Automation GmbH (Austria), Belden Incorporated (U.S.), Bosch Rexroth AG (Germany), ACS Motion Control Ltd (Israel), General Electric Company (U.S.), Honeywell International Inc (U.S.), Omron Corporation (Japan), Eaton Corporation (Ireland), Siemens AG among others.
The global industrial ethernet market is expected to reach USD 60 billion in 2023 with a CAGR of 13 % during the forecasted period 2017 – 2023.
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Industrial Ethernet Global Market PERCEIVES ENORMOUS ACCRUALS with a STRIKING CAGR of 13% by 2023
Market Research Future published a research report on “Global Industrial Ethernet Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.