Published Date: 26-May-2021
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According to a new report Global Industrial Ethernet Market, published by KBV research, The Global Industrial Ethernet Market size is expected to reach $15.3 billion by 2027, rising at a market growth of 7.2% CAGR during the forecast period.
The software segment would exhibit a considerable growth rate during the forecast period. Using Industrial Ethernet, it becomes possible to facilitate network management through the observation of industrial Ethernet software consisting of different nodes. Many devices can be configured at the same time with the help of these solutions. Industrial Ethernet diagnostic software solutions allow effective topology recognition and support various devices like routers, switches/hubs, WLAN devices, and other end devices.
EtherNet/IP protocol obtained the maximum revenue share of the global industrial Ethernet market in 2020. Rockwell Automation developed Ethernet/IP which is an industrial Ethernet protocol in 1990. Presently, Open DeviceNet Vendors Association (ODVA) manages this. Ethernet/IP is one of the major industrial protocols and is broadly utilized in several industries, such as process and hybrid. As Ethernet/IP utilizes standard Ethernet and switches, it can consist of hundreds of nodes in a single system.
APAC region is presently the biggest manufacturing hub for automobile and electronic companies. In order to compete with the other leading players, the companies operating in the region adopt advanced automation systems, which need extremely robust communication networks for machine-to-machine (M2M) communication in their plants. The manufacturing companies in APAC highly implement the smart factory concept for installing modern manufacturing technologies on the factory floor.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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