The global industrial Ethernet market is expected to grow at a significant CAGR of 5% during the forecast period (2024-2031). The major factors propelling the growth of the global industrial Ethernet market include rising demand for advanced technology and the application of innovative ideas to build networks for industrial energy and electricity utilization. Additionally, the rising demand for industrial network infrastructure flexibility will propel the growth of the market.
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Enterprises in the energy and power industries are anticipated to employ ethernet solutions and services at a rapid rate during the forecast period. The renewable energy sector is booming, and advanced power cable demand is expected to soar. Solar Photovoltaic (PV) and wind-generated electricity, two of the fastest-growing renewable energy sources, are increasingly relying on specialized power cables to enable efficient power transmission over vast distances. Industrial Ethernet is projected to play a significant role in controlling and enhancing the productivity of energy and power generating and distribution operations as technology advances.
The key players contributing to the growth of the global industrial Ethernet market by adopting various strategies such as product launches & developments, mergers and acquisition, partnerships, and agreements, include ABB Ltd., Physik Instrumente (PI) GmbH & Co. KG (ACS Motion Control, Ltd.), Barta-Schoenewald, Inc. (Advanced Motion Control), BECKHOFF Automation, Belden, Inc., among others. For instance, in August 2020, Ethernet Alliance, a global organization devoted to the success and progress of Ethernet technology, announced the introduction of an industry emphasis on Operational Technology (OT) networks used in building and industrial automation. The Ethernet Alliance is looking to connect with more experts in the building- and industrial-automation sectors as the introduction of Single-Pair Ethernet (SPE) creates new potential for tackling issues in OT networks.
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Market Coverage
- Segment Covered-
o By Component
o By Protocol
o By Application
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- ABB Ltd., Physik Instrumente (PI) GmbH & Co. KG (ACS Motion Control, Ltd.), Barta-Schoenewald, Inc. (Advanced Motion Control), BECKHOFF Automation, Belden, Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Industrial Ethernet Market- Segmentation
By Component
- Hardware
o Switches
- Up to 1 Gbps,
- 1 – 2.5 Gbps
- 5 – 10 Gbps
- Above 10 Gbps
o Hubs
o Router & Gateways
o Connectors
o Communication Interface
o Controller & Processors
- Software
- Service
- Integration & Testing Service
- Maintenance Service
By Protocol
- Ethernet TCP/IP
- Gigabit
- PROFINET
- Ethernet/IP
- Modbus TCP/IP
- Powerlink
- EtherCAT
- Sercos III
- HSE
By Application
- Automotive & Transport
- Aerospace & Defense
- Electrical & Electronics
- Oil & Gas
- Energy & Power
- Chemical
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