Asia Pacific to grow at the highest CAGR in the industrial ethernet market during 2023-2028Posted by Tom C on July 4th, 2024 The industrial ethernet market is projected to grow from USD 11.0 billion in 2023 to USD 15.8 billion by 2028, registering a CAGR of 7.5% during the forecast period. Asia Pacific is currently the largest manufacturing hub for automobile and electronic companies. To compete with other global players, the industrial ethernet companies in Asia Pacific use advanced automation systems, which require highly reliable communication networks that can help in machine-to-machine (M2M) communication in the plants. The manufacturing companies in Asia Pacific extensively adopt the smart factory concept for implementing advanced manufacturing technologies on the factory floor. This innovative concept has transformed the manufacturing sector in Asia Pacific and has increased the implementation of smart automation in factories. The growing acceptance of Industrial Revolution 4.0 in Asia Pacific is also a factor driving the growth of the regional market. China is one of the largest manufacturing hubs for automobile and electronics devices in the world. In response to the labor cost increasing year-on-year in China, companies are increasingly adopting advanced automation systems to reduce production costs. The high-quality standards have led companies to introduce factory automation, which requires a robust industrial communication network. These factors are collectively expected to boost the growth of the industrial ethernet market in China during the forecast period. Download PDF Brochure: Top Key Players: Hardware switches is expected to hold the largest market share during the forecast period Switches are used to establish an industrial network by interconnecting computers. Switches provide high security and durability and are suitable for use in mission-critical environments. They provide a reliable communication network for machine tools and motion control applications in process and discrete industries. Switches are energy-efficient, durable, and robust. The rising demand for networking in various automation applications has created a need for additional features, such as industrial-grade reliability, network redundancy, seamlessly integrated security, and the best price-to-performance ratio. To fulfill these requirements, companies such as Moxa (Taiwan), Siemens (Germany), and Cisco Systems (US) provide different switches with various data transfer speeds. Water & Wastewater is expected to register a higher CAGR during the forecast period In water & Wastewater treatment operations, reliable and timely data can make a difference in improving efficiency and reducing costs. Outdated communication architectures are unable to keep up with existing SCADA applications in terms of the bandwidth, security features, scalability, and environmental ruggedness required to connect to remote areas. The increasing efficiency of Water & Wastewater operations is attributed to the deployment of low-cost, low-power sensors, as well as edge computing devices in the operations. These devices help in the timely delivery and management of services. Like it? Share it! More by this author |