Industrial Ethernet Market - Increasing Adoption of Industry 4.0 and Real-time Communication in Industrial Settings
Posted by Tom C on April 12th, 2023
Industrial Ethernet is a communication standard that is widely used in industrial applications for the purpose of controlling, monitoring, and automating various industrial processes. It is a fast, reliable, and secure method of communication that helps to improve operational efficiency and reduce downtime in industrial settings.
The global industrial Ethernet market is expected to grow from USD 11.0 billion in 2023 to USD 15.8 billion by 2028, at a CAGR of 7.5% during the forecast period.
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The growth of the market can be attributed to the increasing adoption of industrial automation and Industry 4.0, the growing demand for real-time communication and data transfer in industrial settings, and the need for improved efficiency and productivity in industrial operations.
The hardware segment is expected to hold the largest share of the industrial Ethernet market during the forecast period. This can be attributed to the growing demand for switches, routers, and other networking devices that are used in industrial Ethernet networks for data transfer and communication.
The automotive industry is expected to hold the largest share of the industrial Ethernet market by end-use industry during the forecast period. This can be attributed to the increasing adoption of industrial Ethernet in automotive manufacturing for process automation, real-time monitoring, and quality control.
North America is expected to hold the largest share of the industrial Ethernet market during the forecast period. This can be attributed to the presence of major players in the region, the growing adoption of Industry 4.0, and the increasing demand for automation and real-time communication in industrial settings.
Some of the key players operating in the industrial Ethernet market include Siemens AG (Germany), Rockwell Automation, Inc. (US), ABB Ltd. (Switzerland), Schneider Electric SE (France), Cisco Systems, Inc. (US), Belden Inc. (US), Beckhoff Automation GmbH & Co. KG (Germany), General Electric Company (US), HMS Industrial Networks AB (Sweden), and Moxa Inc. (Taiwan), among others.
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About the AuthorTom C
Joined: July 2nd, 2020
Articles Posted: 401
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