Northbrook, IL -- (SBWIRE) -- 08/02/2022 -- 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 key factors fueling the growth of this market include 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.
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.
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Ether CAT protocol segment to register the highest CAGR during the forecast period
Ether CAT is a real-time industrial ethernet technology, which was developed by Beckhoff Automation (Germany). It is suitable for hard and soft real-time requirements in automation technology, test and measurement, and many other applications in the fabrication, metal forming, and assembly system industries. These industries require high data integrity, secure data transfer, and synchronicity. EtherCAT has been specifically designed for fast control demand applications. It can provide scalable connectivity for entire automation systems, from large PLCs all the way down to the I/O and sensor level. EtherCAT is a protocol optimized for process data, using standard IEEE 802.3 ethernet Frames. Each slave node processes its datagram and inserts the new data into the frame while each frame is passing through. The EtherCAT master can be a standard ethernet controller, thus simplifying the network configuration. Due to the low latency of each slave node, EtherCAT delivers flexible, low-cost, and network-compatible industrial ethernet solutions.
Food & beverage industry to register the highest CAGR during the forecast period
The latest technologies are changing the manufacturing processes of the food & beverage industry. The main aim of the stakeholders involved in the manufacturing and distribution chains of the food & beverage industry is to offer technologically advanced and high-quality products while keeping production, maintenance, and distribution costs low. The automation technologies used in this industry offer design flexibility, innovative integrated safety solutions, and advanced software tools for controlling machine operations. Food manufacturers invest significantly to transform their traditional manufacturing facilities into advanced ones. Thus, the rate of adoption of industrial ethernet solutions is increasing significantly in this industry.
Asia Pacific to register the highest CAGR during the forecast period
APAC is one of the fastest-growing regions in the world in terms of the adoption of industrial ethernet. Ongoing technological innovations and increasing adoption of automation technologies in various industries are leading to the growth of the regional market. The major end-use industries of industrial ethernet solutions in APAC are chemical, oil & gas, semiconductor, consumer electronics, and automotive. APAC has emerged as an auto-manufacturing hub in the world. Hence, motor vehicle suppliers such as Volkswagen (Germany), Toyota Motor Corporation (Japan), Renault-Nissan Alliance (France), Daimler (Germany), and local manufacturers such as Tata Motors (India) and Mahindra and Mahindra (India) have made investments in automating their automobile production sites. The countries of APAC considered in this study have a large number of small- and mid-sized enterprises (SMEs). The requirement for significant investments for the successful implementation of industrial control system security projects restricts SMEs from adopting a strong security practice in their manufacturing units.