Industrial Ethernet Market to grow by USD 29.39 Bn, Increasing number of smart grid projects to boost market growth - Technavio
NEW YORK., Oct. 3, 2022 /PRNewswire/ -- The Industrial Ethernet Market in the Industrial Machinery industry is expected to grow by USD 29.39 bn from 2020 to 2025. Technavio's latest market research report estimates that the industrial ethernet market will progress at a CAGR of 12.44%. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market. Read Free Sample Report.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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Industrial Ethernet Market Segmentation
The ethernet/IP segment's market share of industrial ethernet will expand significantly. The expansion of the Ethernet/IP market is being fueled by elements including high performance and flexibility, the increasing use of IIoT, and the continued expansion of Ethernet networks in process industries. EtherNet/IP will continue to gain popularity due to the penetration of Ethernet and Internet technologies into new applications as well as the general acceleration of connectivity.
North America will account for 37% of market growth. In North America, the US is the major market for industrial ethernet. This region's market will expand more quickly than those in other areas. The industrial ethernet market will increase in North America over the forecast period thanks to the rising IIoT usage. Download Free Sample Report.
Industrial Ethernet Market Key Highlights
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Table of Contents
Five Forces Analysis
Market Segmentation by Technology
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SOURCE Infiniti Research, Inc.
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