What Does the Historical and Current Industrial Ethernet Market Size Trend Indicate?
The industrial ethernet market has seen considerable growth due to a variety of factors.
• In recent years, the market size for industrial ethernet has experienced exponential growth. With a compound annual growth rate (CAGR) of 13.0%, the market is expected to rise from $35.77 billion in 2024 to $40.44 billion in 2025.
Factors contributing to the growth during the historic period include industrial automation expansion, increased preference for ethernet in real-time communication, a surge in industrial Internet of Things (IIoT) implementation, the demand for fast and dependable connectivity, and an increased focus on standardizing industrial communication protocols.
How Will the Industrial Ethernet Market Size Evolve over the Forecast Period?
The industrial ethernet market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the industrial ethernet market is predicted to expand rapidly over the next few years, reaching a value of $75.35 billion in 2029, with a compound annual growth rate (CAGR) of 16.8%.
This growth during the forecast period is due to factors such as the incorporation of time-sensitive networking (TSN) in industrial ethernet, the broadening of industry 4.0 initiatives, increased utilization in smart manufacturing, expansion in industrial edge computing, and a focus on cybersecurity in industrial networks. Key trends during this projected period involve the implementation of gigabit and 10 gigabit ethernet in industrial uses, the advancement of power over ethernet (POE) for industrial devices, the application of single pair ethernet (SPE) for uncomplicated connectivity, the assimilation of wireless communication in industrial ethernet networks, and a stress on network convergence in industrial communication systems.
Which Factors Are Boosting Growth In The Industrial Ethernet Market?
The increasing demand for smart vehicles is predicted to spur the expansion of the industrial ethernet market in the future. A smart vehicle is a method that connects directly to the vehicle's electronic control module to monitor, track, and regulate various vehicle control subsystems. Industrial ethernet is a dependable and significantly quicker networking protocol that fuels intelligent vehicle technologies such as autonomous vehicles, vehicle-to-everything communication, advanced driver assistance systems (ADAS), infotainment systems, and others in the auto industry. For instance, a report by the U.S. Department of Transportation indicates that autonomous vehicle sales in the U.S. are slated to hit 4.5 million units by 2025, a sharp increase from just 0.1 million units in 2021. Thus, the burgeoning demand for smart vehicles is expected to stimulate the growth of the industrial ethernet market.
What Key Areas Define The Segmentation Of The Global Industrial Ethernet Market?
The industrial ethernet market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Protocol: EtherCAT, EtherNet Or IP, Profinet, Powerlink, Sercos III, CC-Link IE, Other Protocols
3) By Application: Oil And Gas, Aerospace And Defense, Energy And Power, Electrical And Electronics, Automotive And Transport, Chemicals, Other Applications
Subsegments:
1) By Hardware: Switches, Routers, Cables And Connectors, Network Interface Cards (NICs)
2) By Software: Network Management Software, Security Software, Monitoring And Diagnostic Software
3) By Services: Installation And Configuration Services, Maintenance And Support Services, Consulting Services
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How Are Emerging Trends Reshaping The Dynamics Of The Industrial Ethernet Market?
The growing popularity of technological advancement is a significant trend in the industrial ethernet market. Industry-leading companies are focusing on product innovation to maintain their standing. For instance, Westermo Network Technologies, an industrial data communications product manufacturer based in Sweden, unveiled a new-generation industrial ethernet switch platform. This advanced platform is ideal for managing large-scale data and industrial IoT applications. It leverages the most recent WeOS operating system, enhancing the new switch platform's capability. By integrating hardware, software, and network design support, the platform enhances features, reduces total ownership costs, and reinforces dependable networks in an expanded range of sectors.
Who Are the Key Players in the Industrial Ethernet Market?
Major companies operating in the industrial ethernet market include:
• Cisco Systems Inc.
• Siemens AG
• Rockwell Automation Inc.
• Beckhoff Automation
• Moxa Inc.
• Belden Inc.
• Huawei Technologies Co Ltd.
• Asea Brown Boveri Ltd.
• Schneider Electric SE
• ACS Motion Control Ltd.
• Physik Instrumente GmbH
• IFM Electronics GmbH.
• Analog Devices Inc.
• Yokogawa Electric Corporation
• Eaton Corporation.
• Robert Bosch GmbH
• Bosch Rexroth AG.
• Honeywell International Inc.
• Advantech Co. Ltd.
• B&R Automation
• General Electric Pvt Ltd.
• Weidmuller
• Mitsubishi Electric Corporation.
• Alta Industrial Motion
• National Instruments Corporation.
• Omron Corporation.
• Parker Hannifin Corporation.
• Phoenix Contact
What Is The Most Dominant Region In The Industrial Ethernet Market?
Asia-Pacific was the largest region in the industrial ethernet market in 2024.North America was the second largest region of the industrial ethernet market share. The regions covered in the industrial ethernet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
