Newark, April 11, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 10.2 billion industrial ethernet market will reach USD 22.6 billion by 2032. The global industrial ethernet market is expected to grow significantly over the forecast period due to industries' realization that using this will reduce business downtime, fast exchange of data between the selected sections, availability of information at every location, and automation will help in improving productivity. The industrial ethernet is a DIN-rail device with a low port count that is industrially resistant. These switches contribute to the continuous expansion of applications and end-user industries. By converting to an ethernet-based network, smart grid ethernet switches play an essential role in substation automation, decreasing the cost and complexity of connecting equipment in many transmission and distribution substations.
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North America to account for the largest market size during the forecast period.
North America is expected to have the most significant industrial ethernet market share because of the ongoing industrialization and the need to automate manufacturing. Canada's economy is expected to be the most important industrial ethernet market as industries invest heavily in automation. Many multinational corporations, such as BMW and Mercedes, have available manufacturing units in North American countries.
The hardware segment dominated the market with the most significant revenue of USD 14.4 billion in 2022.
The hardware segment dominated the market with the most significant revenue of USD 14.4 billion in 2022. The industrial ethernet market key players widely use hardware. It is an advanced instrument that is used for additional functions.
The automotive & transportation segment accounted for the largest share of the market, with a market revenue of USD 8.9 billion in 2022.
The automotive & transportation segment accounted for the largest share of the market, with a market revenue of USD 8.9 billion in 2022. Factors such as rise in use of industrial ethernet due to their benefits and the growing requirement to maintain efficiency in communication infrastructure in the transportation and automotive environments drive market expansion. Furthermore, the increased use of industrial ethernet switches in industrial infrastructures such as security & surveillance, smart grids, intelligent rail & traffic, and other utilities drive market expansion.
Recent Development:
● In March 2021, Huawei introduced its new CloudFabric 3.0 Hyper-Converged Data Center Network Solution. This solution is designed to unwrap 100% of computing power and is used for developing lossless storage and computing networks based on an all-ethernet architecture.
● In March 2021, Rockwell Automation introduced its latest industrial ethernet switch managed by Allen-Bradley Stratix 5800. This switch was created to help businesses prepare their manufacturing facilities for more data-intensive networking. For use in various layers of the architecture, the switch includes layer two access layer and switching three routings.
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Market Dynamics:
Drivers: Excellent Connection
An ethernet connection provides significantly more speed than a wireless connection. With the latest twisted pairs ethernet can readily approach 10Gbps speeds. Some can reach speeds of up to 100Gbps. The reason for this is that they have a one-to-one link. Fibre optic cables are available for an even greater range. These cables use light instead of the traditional method of transmitting data.
Restraint: High Cost
Increasing demand for industrial cables and intense market competition has made it harder for vendors to compete. Additionally, availability, inflation, demand-supply mismatch, and output impact raw material pricing.
Opportunity: Wide Range of Applications
Industrial ethernet switches have a wide range of applications in industrial infrastructures such as smart grid, security & surveillance, and other utilities, driving the market for industrial ethernet. By converting to an Ethernet-based network, smart grid ethernet switches play an essential role in substation automation, decreasing the cost and complexity of connecting equipment in many distribution and transmission substations.
Challenge: Fluctuation in Prices
Several raw materials fluctuating price range challenges the market growth. For example, copper and fiber-optic are the main raw materials utilized to manufacture industrial ethernet cables. These two raw materials fluctuating prices impede the global industrial ethernet market.
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Some of the major players operating in the industrial ethernet market are:
● ABB Ltd.
● Physik Instrumente (PI) GmbH and Co. KG
● Robert Bosch GmbH
● Analog Devices Inc.
● Belden Inc.
● Hitachi Ltd.
● Nexans SA
● Schneider Electric SE
● Rockwell Automation Inc.
● Siemens AG
Key Segments cover in the market:
By Offering:
● Software
● Hardware
● Services
By Application:
● Automotive & Transportation
● Pharmaceutical & Medical Devices
● Electrical & Electronics
● Aerospace & Defense
● Energy & Power
● Food & Beverages
● Oil & Gas
● Others
About the report:
The global industrial ethernet market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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