According to the new market research report "Industrial Ethernet Market with COVID-19 Impact Analysis By Offering (Hardware, Software, Services), Protocol (PROFINET, EtherNet/IP), End-use Industry (Automotive & Transportation, Electrical & Electronics), and Region – Global Forecast to 2026", published by MarketsandMarkets™, the market was valued at USD 9.2 billion in 2020 and is projected to reach USD 13.7 billion by 2026. It is expected to grow at a CAGR of 7.3% during the forecast period. 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 are contributing to the growth of the industrial ethernet market. Rising adoption of 5G to act as a growth opportunity for the market players.
Ask for PDF
Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=198318524
Hardware to account
for the largest share of the industrial ethernet market
The hardware segment
is expected to hold the largest share of the industrial ethernet market. Devices
such as IP phones and PCs are connected to the internet to enable rapid
communication in industries. Machine-to-machine (M2M) communication in the
industrial environment helps facilitate efficient plant operations. It
accelerates operations and ensures higher reliability and robustness across
various industries, such as automotive, transportation, aerospace &
defense, pharmaceutical, and food & beverage. However, a secure and robust
network is required to protect internet-connected devices from data manipulation
or theft. Such a robust application-specific network can be built using
networking components. The hardware segment covers the components that are used
to build specific communication networks. The components include switches,
routers, gateways, power supply devices, controllers, and others.
Automotive &
Transportation end-user industry accounted for the largest share of the
industrial ethernet market in 2020
Automotive is one of
the largest end-use industries of the industrial ethernet market and is
expected to continue to dominate the market due to the growing need for
advanced automation in automobile manufacturing hubs worldwide. Likewise, water
level monitoring sensors, AC drives, and controllers are the crucial components
of water treatment systems, and an industrial ethernet network is used to
facilitate communication among these systems. The automotive industry continues
to evolve at an impressive pace with the adoption of automation and
connectivity. However, component manufacturers strive to address the growing
need for bandwidth and cost-effectiveness. An automobile is a complex and
technologically sophisticated machine. The manufacturing of cars requires
advanced technological methods and processes. To improve the quality of
vehicles and overall production efficiency, manufacturers invest substantial
time and money in developing and improving the manufacturing process and rely
heavily on technological innovations. Industrial ethernet solutions leverage
the benefits of the industrial internet to connect machines, data, and people
for attaining an unmatched level of information visibility and manufacturing
insight. This helps accelerate production, improve quality, and lower costs.
Browse in-depth
TOC on "Industrial Ethernet Market"
113 – Tables
41 – Figures
208 – Pages
Inquiry
before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=198318524
Asia
Pacific to account for
the largest share of the industrial ethernet market by 2026
APAC is currently
the largest manufacturing hub for the automobile and electronic companies. To
compete with other global players, the companies in APAC use advanced
automation systems, which require highly reliable communication networks for
machine-to-machine (M2M) communication in their plants. The manufacturing
companies in APAC extensively adopt the smart factory concept for implementing
advanced manufacturing technologies on the factory floor. This innovative
concept has transformed the manufacturing sector in APAC and has increased the
implementation of smart automation in factories. The growing acceptance of
Industrial Revolution 4.0 in APAC is also a factor driving the growth of the
regional market. The decrease in the number of COVID-19 patients in China is slowly normalizing the manufacturing
activities in the country. This, in turn, is expected to drive the growth of
the industrial ethernet market in APAC. However, it is likely that this growth
will not be as significant as it was estimated in the pre-COVID-19 era.
No comments:
Post a Comment