Industrial Ethernet Market to Expand US $72bn by 2024: Cisco, ABB, Rockwell Automation, Siemens, Schneider and 15 Other Companies Profile

North America held a major share of the global industrial Ethernet market in 2016 owing to the significant contribution of switches and routers in the revival of the manufacturing industry in the U.S.

Logo

Sellbyville, DE -- (SBWire) -- 10/17/2018 --Industrial Ethernet Market in hardware segment is expected to hold a major share 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 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.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2437

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.

The players operating in this market offer a wide range of industrial Ethernet switches, service routers, communication interfaces, and Ethernet network media. Manufacturers specializing in industrial Ethernet solutions spend considerable time and resources in developing advanced hardware and software solutions to offer improved process productivity by streamlining industrial network infrastructures. Along with these solutions, providers also offer allied services that include installation, functional testing, training & consultation, and maintenance services.

Make an inquiry for buying this report @ https://www.gminsights.com/inquiry-before-buying/2437

North America dominated the industrial Ethernet market in 2016 with a major share of around 57% and it is expected to maintain this dominance over the forecast timeline owing to the rapid growth of industrial automation in the region. As manufacturers are emphasizing more on getting maximum returns on their capital investments including their network infrastructures, the adoption of industrial Ethernet is expected to swiftly accelerate between 2017 and 2024.

The Asia Pacific Ethernet market is projected to exhibit the fastest growth during the forecast period owing to rapid industrialization in countries including China, India, Japan, and Singapore. Also, as the popularity and the adoption of Industrial IoT (IIoT) in the region are growing consistently, the market will witness an exponential growth over the forecast timeline.

Some of the key players operating in the Industrial Ethernet market are Advanced Motion Control, ABB Ltd., ACS Motion Control Ltd., Beckhoff Automation, Alta Industrial Motion, B&R Automation, Cisco Systems, Inc., Belden, Inc. (Hirschmann), Bosch Rexroth AG, Eaton Corporation, Moxa, Inc., Honeywell International, Inc., Innovasic, Inc., Schneider Electric SE, Parker Hannifin Corporation, Omron Corporation, Siemens AG, Rockwell Automation, Yokogawa Electric Corporation, and Yaskawa Electric Corporation.

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Media Relations Contact

Arun Hegde
Corporate Sales
Global Market Insights, Inc.
302-846-7766
https://www.gminsights.com/industry-analysis/industrial-ethernet-market

View this press release online at: http://rwire.com/1066150