Zion Market Research has published a new report titled “ Industrial Ethernet Market by Protocol Type (Ethernet/IP, PROFINET, EtherCAT, Modbus TCP, POWERLINK, Sercos III and CC-Link IE), for Automotive, Electrical & Electronics, Aerospace & Defense, Oil & Gas, Water & Wastewater, Food & Beverages, Pharmaceutical, Engineering/Fabrication and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022”. According to the report, global industrial Ethernet market was valued at around USD 23.96 billion in 2016 and is expected to generate revenue of USD 58.98 billion by end of 2022, growing at a CAGR of slightly above 16.20% between 2017 and 2022.
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Ethernet is widely used in office and office networks for data transfers. The use of standard Ethernet in an industrial environment is called industrial Ethernet. Industrial Ethernet is a phrase that can be used to describe the general shift towards Ethernet solutions in the industry. It is also specifically used to describe Ethernet switches and media converters that are designed for industrial rather than home use.
Industrial Ethernet is mainly used in automotive, electrical and electronics, aerospace and defense, oil and gas, water and wastewater, food and beverages, pharmaceutical. It is also used in energy and power generation, mining, chemical, petrochemicals and fertilizers and engineering/fabrication industry. In 2016, water and wastewater segment dominated the industrial Ethernet market with lucrative market share. Automotive, aerospace & defense and oil and gas market are expected to grow at a healthy rate due to increasing investment in research and development by the manufacturer.
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Among protocol type PROFINET segment emerged as leading segment with highest market share and it is expected to show its dominance in the forecast period. Other segments like Ethernet/IP, EtherCAT, Modbus TCP, and POWERLINK are some important outlets that are expected to have remarkable growth in the next few years. The development of advanced technologies such as cloud-based services and big data analytics has increased demand for data centers in developed countries which is contributing to Ethernet market growth. High deployment of industrial Ethernet in the Asia Pacific region considered as major upcoming opportunities for the growth of global industrial Ethernet market.
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Demand for industrial Ethernet was highest in the Asia Pacific due to the vast research and development infrastructure growth in countries including Japan, Australia, China, and India. Also, Asia Pacific was predicted to be the fastest growing region due to the growing economies and demand for consumer electronics and automobiles from countries such as China, Japan, India, and South Korea. Europe and North America are expected to show strong growth in automotive and electronics due to advanced technology.
Some of the key players in industrial Ethernet market include Beckhoff Automation, Cisco Systems, Inc, Rockwell Automation, Schneider Electric, Siemens AG, ABB Ltd., B&R Automation, Belden Inc., Bosch Rexroth, ACS Motion Control, Innovasic, Inc., GE, Honeywell International, Omron, and Eaton. Siemens AG is one of the leading industrial Ethernet vendor worldwide followed by Rockwell Automation and Schneider Electric SE.
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