Selbyville, Delaware, Dec. 21, 2020 (GLOBE NEWSWIRE) --
According to latest report “Industrial Ethernet Market by Component (Hardware, Software, Service) Protocol (Ethernet TCP/IP, Gigabit, PROFINET, Modbus TCP/IP, Powerlink, EtherCAT, Sercos III, HSE), Application (Automotive & Transport, Aerospace & Defense, Electrical & Electronics, Oil & Gas, Energy & Power, Chemical), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of industrial ethernet will cross $100 billion by 2026. The increasing demand for efficient network infrastructure for diverse application requirements is expected to contribute significantly to the market growth.
The growing demand for security managed diverse protocols deployed across industrial infrastructure is projected to support the industrial ethernet market expansion. It facilitates communication throughout enterprises by linking over WAN; for instance, mobile wireless or DSL. It also provides the availability of scalable communication performance when necessary with switching technology. Advanced capabilities such as high speed and increased connection distance along with the ability of connecting multiple nodes are driving the demand for advanced industrial ethernet solutions and services.
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The industrial ethernet market for software segment is anticipated to witness around 20% growth rate till 2026. Industrial ethernet software solutions enable network management through the monitoring of industrial ethernet networks with varying number of nodes. Using these solutions multiple devices can be configured simultaneously. Industrial ethernet diagnostic software solutions enable efficient topology recognition and support different devices, such as routers, switches/hubs, WLAN devices, along with end devices.
The Modbus TCP/IP protocol segment in the industrial ethernet market is estimated to attain a CAGR of 18% through 2026. The Modbus TCP/IP is a Modbus standard running over the TCP interface on the Ethernet. The standard is an application protocol, which assigns passing and managing data between varied layers without the concern of being affected by other protocol used by an immediate layer. Modbus TCP/IP utilizes Internet Protocol and Transmission Control Protocol for transmission of data through Modbus between compatible devices over varied systems.
The demand for industrial ethernet solutions and services across electrical and electronics application is increasing significantly during the forecast period. The industrial ethernet implementation is enabled using different electronic products, which include routers, firewalls, gateways, hubs, and switches. These products enable interconnection between different network components in industrial settings across various sectors. Different power supply units are specially designed for industrial ethernet implementations and prevent failures due to voltage overloads, short circuits, and temperature overloads.
Europe industrial ethernet market will account 25% of the revenue share by 2026. The widespread presence of prominent companies, such as ABB Ltd., Robert Bosch GmbH, and Siemens AG, is supporting the regional growth. Companies operating in the region are developing innovative platform solutions to support industrial ethernet connectivity. In August 2020, Westermo Network Technologies launched an advanced industrial ethernet platform powered by the WeOS operating system. This launch helped the company to offer customers with advanced platform for IIoT and big data applications.
Major players operating in the industrial ethernet market are ABB Ltd., Cisco Systems, Inc., Robert Bosch GmbH, Rockwell Automation, and Schneider Electric SE. Companies are focusing on the development of advanced industrial ethernet components. Vendors are continuously developing and advancing their industrial offerings, in accordance to the technology evolution. For instance, in August 2020, HARTING Technology Group launched the T1 Industrial connector, supporting the industrial single pair Ethernet. The connector also supports diverse industrial ethernet protocols such as EtherCat & Profinet. This launch helped the company to assist industrial customers in complex infrastructure management.
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Table of Contents (ToC) of the report:
Chapter 3 Industrial Ethernet Market Insights
3.1 Introduction
3.2 Industry segmentation
3.3 Impact of COVID-19 outbreak
3.3.1 Impact by region
3.3.2 Impact by value chain
3.3.3 Impact by competitive landscape
3.4 Technological evolution
3.5 Industry ecosystem analysis
3.6 Industrial Ethernet features
3.6.1 Increased distance
3.6.2 Network security
3.6.3 Broadcast and Multicast
3.6.4 Standardization
3.7 Technology & innovation landscape
3.7.1 Industrial Internet of Things (IIoT)
3.7.2 Powered fiber cable system
3.7.3 Artificial Intelligence (AI)
3.8 Regulatory landscape
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.2 Industry pitfalls & challenges
3.10 Porter’s analysis
3.11 PESTEL analysis
3.12 Growth potential analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.