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Global Industrial Ethernet Market Size was valued at USD 6.7 Billion in 2022. The Industrial Ethernet market Component is projected to grow from USD 7.9 Billion in 2023 to USD 17.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.22% during the forecast period (2023 - 2032). The use of industrial automation and the rapid development of networking technologies are being promoted by governments of emerging nations more and more, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
In order to achieve general growth, governments in developing nations subsidize the expansion of different industries. The adoption of automation and communication technology is increasing as industries evolve structurally. The discrete and process sectors receive a lot of attention from the government. In order to implement the most modern automation solutions, including SCADA, PLC, DCS, robots, and cables, in the food and beverage industry, the Singaporean government has partnered with a number of organizations, including the Food Innovation Resource Centre and the Singapore Food Manufacturing Association (SFMA). In an effort to encourage labor-intensive industrial sectors like textile, rubber, and plastics to embrace the most latest automation technology and boost their overall efficiency, the Malaysian government announced a 200% automation capital allowance (ACA) in its 2015 budget. According to the ACA, capital expenditures for manufacturing businesses can be written off by the government within three years (at a rate of 40% initially and 20% yearly).
India is a rising nation with a swiftly growing industrial industry. The national government's National Manufacturing Policy (NMP), which was created, has accelerated the growth of its manufacturing sector. The government started the Make in India initiative to persuade businesses to employ automated manufacturing techniques in their facilities. Therefore, it is anticipated that over the anticipated period, government initiatives to encourage the adoption of industrial control and factory automation will support market expansion.
It is commonly recognized that market services are essential for providing complete transparency while conducting business inside an industrial unit. Both within the plant and within business networks, these support the establishment and maintenance of efficiency. Because the market is strongly dependent on real-time operating needs, the foundation of the Industry 4.0 concept is a reliable communication network architecture. As a result, a system needs to be well-equipped and have all the features required to enhance the redundant management of information. Networks must also be scalable, a significant component of a big equipment set, and functional with a range of standards and interface types. Thus, driving the Industrial Ethernet market revenue.
The global Industrial Ethernet market segmentation, based on Component, includes hardware, software, and services. Hardware segment dominated the global market in 2022. The rapid development of hardware products, including industrial switches, industrial routers, and industrial gateways, among others, is one of the key drivers impacting this segment's revenue growth. The growing need for industrial ethernet components that provide improved performance in challenging environmental conditions like high levels of humidity, vibration, dust, and temperature extremes is a significant factor driving the segment's sales rise. Manufacturers are increasingly focusing on developing and releasing industrial ethernet products with attributes including a compact design, network redundancy, greater security features, and temperature resistance.
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The global Industrial Ethernet market segmentation, based on Protocol, includes HSE, Sercos III, Ethernet/IP, Modbus TCP/IP, Gigabit Wi-Fi, Ethernet TCP/IP, Powerlink, EtherCAT, and CC-Link IE. HSE segment dominated the global market in 2022. A significant factor in the segment's sales growth is the increased awareness of the availability of different performance classes, including HSE. Applications using HSE have cycle times of approximately 10 ms and either mild or no real-time requirements.
The global Industrial Ethernet market segmentation, based on Industry Vertical, includes aerospace & defense, energy & power, pharmaceutical, oil & gas, food & beverages, chemical, automotive, and others. Automotive segment dominated the global Industrial Ethernet market in 2022. The rapid adoption of new technologies by the automobile sector and the increase in demand for hybrid connectivity are two key factors impacting this segment's sales growth. As equipment capability rises, routing and spacing management also becomes increasingly difficult in the automotive and transportation industries. Power and data transfer must be employed within a single connector housing in order to ensure security and signal integrity.
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The Asia Pacific Industrial Ethernet market dominated this market in 2022 (45.80%). The primary factors driving the market's revenue growth are the oil and gas sector's expanding need for automation technologies as well as the region's expanding need for more advanced technologies to improve operational efficiency, save costs, and raise productivity. The region's governments' significant investments in infrastructure development are driving the market for industrial ethernet solutions for smart city applications, transportation systems, and energy management systems. Moreover, In the Asia-Pacific region, the Indian Industrial Ethernet market had the quickest rate of growth while China's Industrial Ethernet market had the greatest market share.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
From 2023 to 2032, the North American Industrial Ethernet Market is anticipated to experience rapid expansion. Two important drivers driving the market revenue development in the sector are recent improvements in the physical layer of ethernet and growing awareness of the many benefits of adopting industrial ethernet. Single Pair Ethernet (SPE) and Ethernet Advanced Physical Layer (APL), which both have a lot of potential benefits, are two Ethernet developments that are currently paving the way for more Ethernet use in the company. Further, In the North American area, the U.S. Industrial Ethernet market had the biggest market share, while the Canada Industrial Ethernet market had the quickest rate of expansion.
In 2022, Europe's industrial Ethernet market held a sizable market share. A growing emphasis on energy efficiency and robust manufacturing bases for the automotive, aerospace, and food and beverage industries are key drivers impacting market revenue growth in the region. The thriving manufacturing sector in Europe is one of the major users of industrial Ethernet networks. In industries including automotive, aerospace, and food and beverage, industrial ethernet is crucial for reliable and efficient communication between equipment and control systems. A key enabler of Industry 4.0, industrial ethernet provides the critical connectivity for smart factories and digitalized production processes. For enterprises operating in these regions, energy efficiency is also of utmost importance. Further, In the European region, the German Industrial Ethernet market had the biggest market share, and the U.K. Industrial Ethernet market had the quickest rate of growth.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Industrial Ethernet market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Industrial Ethernet sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Industrial Ethernet industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Industrial Ethernet sector. Major players in the Industrial Ethernet market, including Beckhoff Automation GmbH & Co. KG, Cisco Systems Inc., Rockwell Automation Inc., Schneider Electric, Belden Inc., ACS Motion Control, General Electric, ABB, Analog Devices Inc, B&R, Moxa Inc., OMRON Corporation, Eaton, Bosch Rexroth AG, and Yokogawa Electric Corporation, are attempting to increase market demand by investing in research and development operations.
Amphenol Corp. (Amphenol) is a designer, producer, and marketer of electrical, electronic, and fiber optic connectors, as well as coaxial and specialty cables, antennas, and interconnect systems. The company sells goods to a range of industries and markets, such as mobile devices, commercial aircraft, industrial, automotive, and the military. Amphenol uses its own internal global sales force, electronics distributors, and independent salespeople to provide its products to original equipment manufacturers. In partnership with Hirose Electric and Harting Technology Group, Amphenol Corporation unveiled the next-generation ix Industrial (TM) Connectors in March 2020.
Medical devices, social systems, automation components, and electrical components are all produced and sold by Omron Corp. Robots, power supplies, switches, relays, connectors, motion and drive components, safety components, automation systems, and sensors are all part of the company's product portfolio. Additionally, it offers face recognition software, mems sensors, parts for entertainment equipment, traffic and road management systems, and services for railway stations. In April 2018, Omron Corporation unveiled its brand-new NX1-series Machine Automation Controllers for the manufacturing industry.
· Beckhoff Automation GmbH & Co. KG
· Cisco Systems Inc.
· Rockwell Automation Inc.
· Schneider Electric
· Belden Inc.
· ACS Motion Control
· General Electric
· ABB
· Analog Devices Inc
· B&R
· Moxa Inc.
· OMRON Corporation
· Eaton
· Bosch Rexroth AG
· Yokogawa Electric Corporation
November 2022: At the SPS trade show in Nuremberg, Germany, from November 8–10, 2022, Siemens will unveil its revised Industrial Edge Management System, a better license management system, and new products. Operational Technology (OT) and Information Technology (IT) will become more integrated in industrial production thanks to the recently established management systems, which will enable seamless data flow from the field level to the cloud.
· Hardware
· Software
· Services
· HSE
· Sercos III
· Ethernet/IP
· Modbus TCP/IP
· Gigabit Wi-Fi
· Ethernet TCP/IP
· Powerlink
· EtherCAT
· CC-Link IE
· Aerospace & Defense
· Energy & Power
· Pharmaceutical
· Oil & Gas
· Food & Beverages
· Chemical
· Automotive
· Others
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 6.7 Billion |
|
Market Size 2023 |
USD 7.9 Billion |
|
Market Size 2032 |
USD 17.6 Billion |
|
Compound Annual Growth Rate (CAGR) |
11.22% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Component, Protocol, Industry Vertical, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Beckhoff Automation GmbH & Co. KG, Cisco Systems Inc., Rockwell Automation Inc., Schneider Electric, Belden Inc., ACS Motion Control, General Electric, ABB, Analog Devices Inc, B&R, Moxa Inc., OMRON Corporation, Eaton, Bosch Rexroth AG, and Yokogawa Electric Corporation |
|
Key Market Opportunities |
Emergence of 5G |
|
Key Market Dynamics |
Increasing initiatives by governments of developing countries to promote adoption of industrial automation and rapid advancements in networking technologies |
The global Industrial Ethernet market size was valued at USD 6.7 Billion in 2022.
The global market is projected to grow at a CAGR of 11.22% during the forecast period, 2023-2032.
Asia Pacific had the largest share in the global market
The key players in the market are Beckhoff Automation GmbH & Co. KG, Cisco Systems Inc., Rockwell Automation Inc., Schneider Electric, Belden Inc., ACS Motion Control, General Electric, ABB, Analog Devices Inc, B&R, Moxa Inc., OMRON Corporation, Eaton, Bosch Rexroth AG, and Yokogawa Electric Corporation
The Hardware Component dominated the market in 2022.
The HSE Protocol had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65273
Published on :
Sep 2023
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