Sellbyville, DE -- (SBWIRE) -- 01/19/2019 -- As automation continues to penetrate major industry verticals, industrial ethernet market is set to become one of the most rapidly evolving business spaces of recent times for efficient communication networking. This standard-based intelligent switching technology is claimed to offer a plethora of advantages over conventional industrial networks on virtue of its flexibility, scalability, and robustness. Although initially being considered as a solution that is limited to corporate world, industrial ethernet market, of late, has been gaining substantial momentum in manufacturing arena. In persistent efforts to make organizations more productive and efficient, manufacturers have been rapidly integrating ethernet technology on the factory floor.

Industrial Ethernet market growth is attributed to the growing popularity of industrial IoT (IIoT) to improve the efficiency of supply chain and production processes in industrial settings. Large-scale adoption of Industrial Ethernet products, such as switches, gateways, connectors, processors, and controllers for structuring industrial networks, is expected to boost the Industrial Ethernet market growth over the forecast timeline. While Industrial Ethernet operates on the same protocols used for Ethernet implementation in office-automation,

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The use in industrial setting requires consideration of the environment in which the technology needs to function. Some of the advantages of Industrial Ethernet include improved interoperability, increased network distance, and the ability to have multiple nodes on links. The value proposition of Industrial Ethernet aligns well with that of Industry 4.0 and IIoT. As industrial devices are increasingly required to feed data to enterprise-level cloud-based applications, the demand for Ethernet-enabled end devices in industrial networks is increasing consistently from all the end-use sectors.

Industrial Ethernet market is projected to surpass USD 72 billion by 2024. The term industrial Ethernet comprises a series of expansions to the IEEE 802.3 Ethernet standard through which the communication technology in the industrial environment is implemented. Traditional Ethernet was developed for office-based applications; it is subject to certain restrictions and cannot be used in harsh industrial environments. Industrial Ethernet effectively overcomes these limitations and offers significant expansions of the Ethernet technology framework for industrial applications.

The hardware segment is expected to hold a major share of the Industrial Ethernet market by 2024 owing to the extensive adoption of Ethernet switches, hubs, gateways, and connectors to enable industrial automation functions. The service segment in Industrial Ethernet market is projected to exhibit the fastest growth between 2017 and 2024 reporting a CAGR of around 27% owing to the need for effective installation, testing, and maintenance of the network infrastructure to ensure a long-term stability.

Industrial Ethernet offers a wide range of network security measures to facilitate data integrity and confidentiality. It ensures that the data cannot be accessed by any unauthorized users. Manufacturing devices, such as Programmable Logic Controllers (PLCs) as well as PCs, can be effectively protected due to these network security features. Industrial applications usually depend on broadcast or multicast communication systems. Industrial Ethernet uses intelligent switching platforms, which can dynamically configure interfaces. As a result, the traffic is forwarded to only those ports that are associated with the requested data. Thus, client devices can be relieved from processing unneeded frames.

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The oil & gas segment is expected to witness an accelerated growth throughout the forecast timeline as Industrial Ethernet market solutions enable mission-critical communications in harsh conditions in oil and natural gas extraction environments. Due to the capabilities such as reliability, ruggedness, and remote access, the technology proves to be advantageous over office-grade ethernet equipment for operating in the harshest environmental conditions.

North America will hold the majority share of the Industrial Ethernet market by 2024, accounting for over 50% due to the rapid growth of manufacturing automation applications in the region supported by Industry 4.0. The supportive government initiatives and policies for driving the adoption of industrial automation among the manufacturing and automotive industry are also estimated to have a significant impact on the Industrial Ethernet market growth throughout the forecast timeline.

The players operating in the industrial Ethernet market offer complete solutions that include field level devices, communication protocols, and system integrations to enhance their customer base and profitability. Cisco, ABB, Rockwell Automation, Siemens, Schneider, Beckhoff Automation, ACS Motion Control, Advanced Motion Control, Honeywell International, Omron, Eaton, Innovasic, and Moxa are some of the major vendors of the Industrial Ethernet market solutions.

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