The Europe Industrial Ethernet Market would witness market growth of 6.8% CAGR during the forecast period (2021-2027). In Industry 4.0, industrial communication plays a vital role. Along with making a smart production process, it is important for a company to adopt advanced communication technology that would help them to achieve their target.
The limitations of other wireless systems can be overcome with the help of 5G. The introduction of 5G will bring a drastic change for the manufacturing industries. 5G connectivity will be leveraged with ultra-low latency and reliability that make the manufacturing system more efficient and flexible. The deployment of 5G will eliminate the dependency on cables, but there will be continued automation of robots and warehouse transportation.
Industry 4.0 is basically the advancement of new digital industrial technology. Along with the value chain connected to a single enterprise, machines, sensors, and IT systems will be also be connected in Industry 4.0. By using standard internet-based protocols, all these systems will be connected and interact with one another. With the help of this, data analysis and failure prediction are done, and accordingly, variations in data can be configured. It is predicted that the fourth industrial revolution will be helpful to gather and analyze data across machines. This will make data processing faster, flexible, and more efficient and thus produce higher quality products at a lower cost. This will increase manufacturing productivity, promote industrial growth, and improve plant economics. Thus, there will be increasing use of digital industrial network protocols including Foundation Fieldbus and WirelessHART. The European Union (EU) is actively promoting Industrial Revolution 4.0 promotion. This union is supporting the smart use of information and communications technology (ICT) and the incorporation of micro-, small-, and medium-sized enterprises in the digital value chains. It is the EU-funded program to fund and support research and innovation in this field.
The Germany market dominated the Europe Industrial Ethernet Software Market by Country 2020, thereby, achieving a market value of $281.4 million by 2027. The UK market is exhibiting a CAGR of 5.8% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 7.3% during (2021 - 2027).
Based on Offering, the market is segmented into Hardware, Software and Services. Based on Protocol, the market is segmented into EtherNet/IP, EtherCAT, PROFINET, POWERLINK and Others. Based on Industry, the market is segmented into Automotive & Transportation, Electrical & Electronics, Pharmaceutical & Medical Devices, Aerospace & Defense, Energy & Power, Oil & Gas, Food & Beverages and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Industrial Ethernet Market Size will Hit $15.3 Billion by 2027, at a CAGR of 7.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Rockwell Automation, Inc., Cisco Systems, Inc., Omron Corporation, Sick AG, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Schneider Electric SE, IFM Electronics GmbH, ABB Group, and Belden, Inc.
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