DUBLIN–(BUSINESS WIRE)–The “Industrial Ethernet Market With COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Protocol (PROFINET, EtherNet/IP), End-use Industry (Automotive & Transportation, Electrical & Electronics), and Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The industrial ethernet market was valued at USD 9.2 billion in 2020 and is projected to reach USD 13.7 billion by 2026. It is expected to grow at a CAGR of 7.3% during the forecast period.
The growing need for scalable, fast, reliable, and interoperable communication protocols, increasing initiatives by governments of developing countries to promote the adoption of industrial automation, and the growing popularity of smart automobiles are contributing to the growth of the industrial ethernet market. The rising adoption of 5G to act as a growth opportunity for the market players.
Based on the offering, hardware to account the largest share during 2021-2026
The hardware segment is expected to hold the largest share of the industrial ethernet market. Devices such as IP phones and PCs are connected to the internet to enable rapid communication in industries. Machine-to-machine (M2M) communication in the industrial environment helps facilitate efficient plant operations. It accelerates operations and ensures higher reliability and robustness across various industries, such as automotive, transportation, aerospace & defense, pharmaceutical, and food & beverage. However, a secure and robust network is required to protect internet-connected devices from data manipulation or theft. Such a robust application-specific network can be built using networking components. The hardware segment covers the components that are used to build specific communication networks. The components include switches, routers, gateways, power supply devices, controllers, and others.
EtherCAT to grow at the highest CAGR during the forecast period
EtherCAT is a real-time industrial ethernet technology, which was developed by Beckhoff Automation (Germany). It is suitable for hard and soft real-time requirements in automation technology, test and measurement, and many other applications in the fabrication, metal forming, and assembly system industries. These industries require high data integrity, secure data transfer, and synchronicity. EtherCAT has been specifically designed for fast control demand applications. It can provide scalable connectivity for entire automation systems, from large PLCs all the way down to the I/O and sensor level. EtherCAT is a protocol optimized for process data, using standard IEEE 802.3 ethernet frames.
Automotive & Transportation end-use industry accounted for the largest share of the industrial ethernet market during the forecast period
Automotive is one of the largest end-use industries of industrial ethernet and is expected to continue to dominate the market due to the growing need for advanced automation in automobile manufacturing hubs worldwide. Likewise, water level monitoring sensors, AC drives, and controllers are the crucial components of water treatment systems, and an industrial ethernet network is used to facilitate communication among these systems. In automobile manufacturing, Ethernet (IEEE 802.3) is an extensively used protocol. In this industry, many processes are controlled through computers, and Ethernet is one of the most suitable protocols for computer-enabled communication. The technology is primarily used for diagnostics, machine control, and factory automation, and for connecting remote sensors. It has the capability of handling a large amount of data traffic on a single infrastructure.
Market Dynamics
Drivers
Growing Need for Scalable, Fast, Reliable, and Interoperable Communication Protocols Increasing Initiatives by Governments of Developing Countries to Promote Adoption of Industrial Automation Growing Popularity of Smart Automobiles Restraints
Absence of Standardization in Industrial Communication Protocols and Interfaces Opportunities
Emergence of 5G to Create Lucrative Opportunities for Market Players Challenges
Threats Related to Cybersecurity Harsh Field Site Conditions – High-Voltage Transients, Severe Shocks and Vibrations, and Extremely High Temperatures Companies Mentioned
Aaeon Abb Advantech Beckhoff Automation Belden Inc. Bosch Rexroth Cisco GE Grid Solutions Hans Turck Hms Networks Honeywell Huawei Technologies IFM Electronic Moxa Omron Patton Rockwell Automation Schneider Electric Sick Siemens Weidmuller For more information about this report visit https://www.researchandmarkets.com/r/vktrsm