The global industrial ethernet IP market is anticipated to grow at a significant CAGR during the forecast period. Ethernet Industrial Protocol (Ethernet/IP) is a network communication protocol that can handle enormous volumes of data at different rates. PROFINET and EtherCAT are industrial Ethernet protocols that modify regular ethernet to ensure that specific manufacturing data is provided and received correctly. It also makes sure that data is transferred promptly to complete a task. As automation spreads across industries, the need for a reliable communication network that connects all of the components increases. As a result, industrial ethernet protocol is in high demand to create a scalable, flexible, and omnipresent network.
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Through a secure network connection, industrial ethernet allows for easy data flow across the production plant. This contributes to increased productivity in the industry’s supply chain and manufacturing process, as well as minimised downtime in industrial processes. As a result, various sectors are adopting cutting-edge process automation technology. The increasing use of the Industrial Internet of Things (IIoT) and Internet of Things (IoT) in manufacturing and process sectors is accelerating the rapid expansion of the global industrial ethernet IP market.
Furthermore, government measures encouraging the usage of ethernet in process and manufacturing industries to use cutting-edge technology are propelling the market forward. On the other hand, the need for remarkable capital investments to implement industrial ethernet solutions is a major obstruct blocking the industry growth.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Type
o By End-User
- Competitive Landscape: Rockwell Automation, Cisco Systems Inc., Huawei, Innovasic, Mitsubishi Electric.
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 IP Market by Segments
By Type
- Factory Automation
- Supervisory Control
By End-User
- Discrete industries
- Process industries
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