Global $15.8 Billion Industrial Ethernet (Hardware, Software, Services) Market to 2028 with Cisco, Siemens, Rockwell, OMRON, Moxa, Belden, Huawei, SICK, Schneider Electric, and ABB Dominating
DUBLIN, Sept. 18, 2023 /PRNewswire/ -- The "Industrial Ethernet Market with Recession Impact Analysis by Offering (Hardware, Software, Services), Protocol (PROFINET, EtherNet/IP), End-use Industry (Automotive & Transportation, Electrical & Electronics) and Region- Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The industrial ethernet market is poised for significant growth, with a projected increase from USD 11.0 billion in 2023 to USD 15.8 billion by 2028, marking a robust CAGR of 7.5%
This market report offers a comprehensive analysis, defining, describing, and forecasting the industrial ethernet sector based on several key factors. It delves into the impact of drivers, restraints, opportunities, and challenges influencing market expansion. Additionally, the report examines competitive developments, including product launches, acquisitions, expansions, contracts, partnerships, and key player initiatives, contributing to market growth.
Industrial ethernet is characterized by the use of ethernet technology within industry-specific settings, often incorporating protocols like EtherCAT, EtherNet/IP, PROFINET, POWERLINK, SERCOS III, and CC-Link IE for real-time data transfer control. Its application is particularly relevant in rugged industrial environments, facilitating automation and process control.
The growing popularity of industrial ethernet can be attributed to its exceptional features, such as high-speed data transfer, extended connection distances, and the capacity to connect numerous nodes. These attributes make it highly suitable for deployment in process industries. It's worth noting that industrial ethernet requires robust hardware, including specialized cables and connectors designed to withstand the challenging environmental conditions prevalent in sectors like automotive, transportation, electrical and electronics, energy and power, aerospace and defense, and engineering and fabrication.
Key industry players driving innovation and market growth include Cisco Systems (US), Siemens (Germany), Rockwell Automation (US), OMRON (Japan), Moxa (Taiwan), Belden (US), Huawei Technologies (China), SICK (Germany), Schneider Electric (France), and ABB (Switzerland).
These leading companies boast comprehensive product and service portfolios and have established a strong presence in both mature and emerging markets, contributing to the dynamic growth of the industrial ethernet market.
Services in offering segment to register the highest CAGR of the industrial ethernet market during te forecast period.
Service providers provide customized network design and other related services, such as long-term maintenance contracts of installations, to cater to clients with specific requirements. They also provide remote support services for networks and can solve or manage network problems remotely. Companies such as Siemens AG (Germany) and General Electric (US) provide a separate services portfolio for this market.
POWERLINK to grow with a significant CAGR during the forecast period.
Ethernet POWERLINK is a real-time protocol for standard Ethernet. POWERLINK was initially developed by B&R (Austria). Ethernet POWERLINK is implemented on top of IEEE 802.3 and, therefore, allows a free selection of network topology and to cross-connect between different topologies. It uses a polling and time-slicing mechanism for real-time data exchange.
A POWERLINK master or managed node controls the time synchronization through packet jitter in the range of tens of nanoseconds. Such a system is suitable for all kinds of automation systems ranging from PLC-to-PLC communication and visualization down to motion and I/O control. Barriers to implementing POWERLINK are quite low due to the availability of open-source stack software. In addition, CANopen is part of the standard that allows for easy system upgrades from previous Fieldbus protocols.
Value Chain Analysis
Use Cases Analysis
Tariff Regulatory Bodies
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