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Industrial Ethernet Market 2022 | Present Scenario and Growth Prospects 2030 | ABB Ltd., Cisco Systems Inc.

New York , United States- Report Ocean published the latest research report on the Industrial Ethernet market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Industrial Ethernet market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

The global industrial ethernet market size was US$ 25 billion in 2021. The global industrial ethernet market is forecast to grow to US$ 45.1 billion by 2030, registering a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2022 to 2030.

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The application of Ethernet, particularly in the industrial environment, is called industrial Ethernet. It follows the protocols such as EtherCAT, EtherNet/IP, PROFINET, POWERLINK, and Others.

Factors Influencing the Market

  • Rising demand for the reliable, scalable, speedy, and interoperable network is forecast to fuel the growth of the global industrial ethernet market. Industrial Ethernet plays an essential role to attain transparency within an industrial plant. In addition, the increasing demand for reliable communication networks, majorly to boost the industry 4.0 concept, is forecast to fuel the industry growth.
  • The growing trend of smart factories and telehealth is forecast to boost the growth of the global industrial ethernet market.
  • The 5G rollout is forecast to offer ample growth opportunities for the market players. 5G will help combat the challenges associated with wireless systems. In addition, the sudden onset of 5G technology is forecast to transform the outlook of the manufacturing companies. As a result, it will also benefit the global industrial ethernet market during the study period.
  • The increasing deployment of safe, flexible, and efficient manufacturing systems will fuel the growth of the market.
  • On the contrary, the shortage of standardization in the communication interfaces is forecast to slow down the growth of the global industrial ethernet market during the forecast period.

Regional Analysis

The Asia-Pacific industrial ethernet market is forecast to register significant growth. The companies in the region are focusing on introducing reliable solutions to outgrow other global market players. In addition, the increasing demand for machine-to-machine (M2M) communication is forecast to fuel the industry’s growth. Moreover, the increasing adoption of the smart factory concept is forecast to benefit the regional market during the study period.

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COVID-19 Impact Analysis

Asia-Pacific has been registering the highest growth. However, prominent nations such as India and China were drastically impacted due to the COVID-19 spread. As a result, it impacted the growth of the industrial ethernet market. Governments in the region imposed strict lockdown. As a result, industries had to halt their activities, which ultimately hampered the demand for industrial ethernet.

Competitors in the Market

  • ABB Ltd.
  • Physik Instrumente (PI) GmbH & Co. KG (ACS Motion Control, Ltd.)
  • Barta-Schoenewald, Inc. (Advanced Motion Control)
  • BECKHOFF Automation, Belden, Inc.
  • Robert Bosch GmbH (Bosch Rexroth AG)
  • Cisco Systems, Inc.
  • Eaton Corporation, Honeywell International, Inc.
  • Innovasic, Inc. (ANALOG DEVICES)
  • Monnit Corporation (Alta Ethernet Gateway)
  • Moxa, Inc.
  • Omron Corporation
  • Other Prominent Players

Market Segmentation

Based on Offering:

  • Hardware
  • Software
  • Services

Based on Protocol:

  • EtherCAT
  • EtherNet/IP
  • PROFINET
  • POWERLINK
  • SERCOS III
  • CC-Link IE

Based on End-use Industry:

  • Automotive & Transportation
  • Electrical & Electronics
  • Aerospace & Defense
  • Oil & Gas
  • Chemical & Fertilizer
  • Food & Beverages
  • Pharmaceutical & Medical Devices
  • Energy & Power
  • Mining & Metals
  • Engineering/Fabrication
  • Water & Wastewater
  • Others (Paper & Pulp, Glass, and Cement)

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By Region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

What is the goal of the report?

  • The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
  • During the forecast period, the report analyzes the growth rate, market size, and market valuation.
  • The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
  • The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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