Industrial Ethernet/IP Market Size Expected to Reach $9.2 Billion with CAGR of 10.1% by 2026 IndustryARC
Industrial Ethernet/IP Market Drivers Growing Implementation of Industry 4.0HYDERABAD, TELANGANA, INDIA, December 20, 2022/EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Industrial Ethernet/IP Market size was estimated at $9.2 billion in 2020, growing at a CAGR of 10.1% in the period 2021-2026. Industrial Ethernet is designed for industrial environments to deliver the real-time and definite communication among machine controllers, router & gateways, actuators, sensors and other processing applications. The rising adoption of Industrial IoT solutions for advanced industrial automation among various industry-verticals such as automotive and manufacturing sectors aim enhanced production processes, resulted in the growth of the Industrial Ethernet/IP Industry. The ongoing wireless cellular technology developments denote next level smart manufacturing, along with the growing awareness towards advanced factory installation with IT systems are further driving the growth of the market. The Industrial Ethernet is rapidly upgrading globally to seek mission-critical automation processes coupled up with the growing emergence of dependable communication interface application, are analyzed to boost the Industrial Ethernet/IP market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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1. North America dominated the Industrial Ethernet/IP Market in 2020 with a share of 37%, owing to the early adoption of Ethernet solutions and integration of latest technology in various industry verticals to respond towards high-speed industrial automation systems.
2. The growing introduction of digital factory and Power supply devices due to the implementation of Industry 4.0 are boosting the Industrial Ethernet/IP Market growth.
3. The introduction of Cobots, the Human assistance machines and growing demand for cutting-edge connectivity are analyzed to drive the growth of the Industrial Ethernet/IP Market.
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1. The Hardware segment is analyzed to register the highest share of 74.1% in 2020, owing to the significant advantages of industrial-grade hubs, Routers and Switches due to reliability, network redundancy, as well as affordable price-to-performance availability.
2. The Automotive Industry is estimated to register the highest share of 16.5% in 2020, owing to the fundamental demands for industrial automation processes across manufacturing plants for ruggedness and real-time performance.
3. North America dominated the Industrial Ethernet/IP Market in 2020 with a share of 37%, owing to the early adoption of Ethernet solutions and integration of latest technology in various industry verticals to respond towards high-speed industrial automation systems.
The top 5 players in the Industrial Ethernet/IP industry are -
1. Beckhoff New Automation Technology
2. Siemens AG
3. Cisco Systems, Inc.
4. Rockwell Automation, Inc.
5. Schneider Electric
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