Industrial Ethernet Market Size, Share, Trends, Growth Drivers 2028

The industrial ethernet market is projected to grow from USD 11.0 billion in 2023 to USD 15.8 billion by 2028; it is expected to record a CAGR of 7.5% during the forecast period.Growing popularity of smart automobiles and rising adoption of 5G are expected to fuel the growth of the industrial ethernet market.

The market for industrial ethernet might experience slow down due to the coming recession in 2023 and 2024. The companies in the industrial ethernet market have a strong base in the North American and European regions. As the recession is expected to have a major impact in these regions, the overall market for industrial ethernet industry is expected to witness a slow growth rate during the years 2023 and 2024. Automotive & transportation, electrical & electronics, and oil & gas are some of the major industries in the industrial ethernet market to be affected by the coming recession.

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Opportunity:  Emergence of 5G to create lucrative opportunities for market players

Industrial communication is a vital element of Industry 4.0. The demand for 5G technology is growing in the manufacturing industry, as 5G helps to overcome the shortcomings of other wireless systems. With the onset of 5G technology, the manufacturing industry will experience a major transformation. With the increasing demand of 5G the demand for industrial ethernet will also increase.

Challenge: Harsh field site conditions-high-voltage transients, severe shocks and vibrations, and extremely high temperatures

Industrial Ethernet devices are deployed in remote field locations which are prone to the effects of unfavorable and harsh conditions, such as high-voltage transients, shocks and vibrations, and extremely high temperatures. High voltage transients result from electrostatic discharge (ESD), bursts, electrical fast transients (EFT), and lightning strikes. These are a few challenges faced in industrial ethernet technology deployment. Therefore, there is a requirement for robust industrial communication equipment to withstand harsh conditions.