Industrial Ethernet Market size to value $350 Bn by 2032

Industrial Ethernet Market size is anticipated to reach USD 350 billion by 2032, according to a new research report by Global Market Insights Inc.
 

The report identifies the rising adoption of advanced technologies and positive outlook from industrial companies as the chief drivers of the industrial ethernet industry. The power networks face multiple challenges associated with reliability, sustainability, and security due to the cumulative demand for electricity which requires them to provide connection to remote renewable energy sources, develop more resilient and reliable networks under uncertainties, and optimize utilization of the resources. This has encouraged companies to deploy flexible and economic industrial ethernet methods, thereby fueling the industrial ethernet market growth.
 

Increasing need to monitor industrial networks to increase software industry share

The software segment is foreseen to grow at over 20% CAGR from 2023 to 2032. The escalating demand to monitor industrial networks ranging in the number of nodes is accelerating the software solutions business expansion. Additionally, these solutions also feature topology recognition and support different devices such as routers, switches/hubs, and WLAN devices along with end devices, benefitting the consumers.
 

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Ability to monitor real-time information to push Sercos III segment demand

The industrial ethernet industry size from the Sercos III protocol segment is slated to expand at around 15% gains through 2032 as the Sercos III protocol is used for real-time communication in the automation technology industry. Propelled by its high efficiency, performance, and new features of the automation bus, the segment is expected to depict considerable growth.
 

Browse key industry insights spread across 360 pages with 357 market data tables and 32 figures & charts from the report, “Industrial Ethernet Market Size By Component (Hardware {Switches [Up to 1 Gbps, 1 – 2.5 Gbps, 2.5 – 10 Gbps, Above 10 Gbps], Hubs, Router & Gateways, Connectors, Communication Interface, Controller & Processors}, Software, Service [Integration & Testing Service, Maintenance Service]), By Protocol (Ethernet TCP/IP, Gigabit, PROFINET, Ethernet/IP, Modbus TCP/IP, Powerlink, EtherCAT, Sercos III, HSE), By Application (Automotive & Transport, Aerospace & Defense, Electrical & Electronics, Oil & Gas, Energy & Power, Chemical), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/industrial-ethernet-market
 

Technological advancements in automotive & transportation sector

The automotive & transportation application will experience a dynamic growth between 2023 and 2032 The increasing advancements in the automotive industry are promoting the use of industrial ethernet for effective control and operation of different mechanical parts in automobiles. Ethernet solutions are highly used in gearbox sensors, oil tanker sensors, temperature sensors, and anti-brake systems for various cables in sensors applicable in different surroundings and situations, propelling the demand for ethernet technology.
 

Asia Pacific emerges as a prominent revenue pocket for industrial ethernet solution

The Asia Pacific industrial ethernet market is poised to witness 20% growth rate through 2032. The region may emerge as a prominent revenue hub for this industry owing to rapid industrialization in emerging countries such as India, China, and Japan due to the rising need for automation solutions in the APAC region. In addition, supportive government initiatives and policies have encouraged the adoption of automation solutions in varied industries, thereby impacting the regional trends.
 

New product launches to remain a key growth strategy

Moxa Inc., Parker Hannifin Corporation, Eaton Corporation, Rockwell Automation, ABB Ltd., Monnit Corporation (Alta Ethernet Gateway), ACS Motion Control, Ltd., Barta-Schoenewald, Inc., Schneider Electric SE, among others are some of the key players profiled in the industrial ethernet market report. These participants is expected to observe a series of product diversification programs, strategic partnerships with automation vendors, and expansion of production facilities by industry players.