DUBLIN, Dec 14, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Industrial Ethernet Market - Global Forecast to 2022" report to their offering.
According to the new market research report on industrial Ethernet, this market is expected to grow at a CAGR of 16.8% between 2016 and 2022, from USD 19.43 billion in 2015 to USD 59.20 billion by 2022. The major driver for the growth of the industrial Ethernet market is the growing adoption of IIoT. In various manufacturing industries, the potential of IIoT to improve productivity in production processes and supply chain is immense. IIoT is expected to fundamentally change the way products are developed, manufactured, transported, and sold.
Of all the major end-user industries, electrical and electronics and automotive held the major share of the industrial Ethernet market in 2015. Automotive, being one of the largest industries and one of the oldest applications of industrial Ethernet, would continue to dominate the market with growing need for advanced automation in automobile manufacturing hubs around the world.
Among the protocols, the market for PROFINET is expected to grow at the highest rate during the forecast period. The number of Ethernet protocols in industrial applications has increased considerably over the past few years as a result of improved network coverage, quality of transmission, and bandwidth capacity. PROFINET is widely used because it offers real-time operation and protection against harsh environment and also facilitates faster, safer, and comparatively low-cost data transfer compared with other industrial Ethernet protocols. Advancements in industrial Ethernet technologies are helping various companies to remotely monitor their assets from anywhere in the world.
The services segment is expected to witness huge growth opportunities in the industrial Ethernet market. With the growing complexity in industrial Ethernet networks, there is a growing demand for consulting, integration, and support services for network management. The advancement of network and technological developments have forced customers and enterprises to demand for better and advanced network services.
Of all the regions, APAC held the largest market share and is expected to grow at the highest rate. In APAC, the huge demand for consumer electronics and automobiles from countries such as China, India, Japan, and South Korea is driving the industrial Ethernet market.
One of the key restraining factors for this market is despite the significant advances in Ethernet over the past 30 years, fieldbus remains widely used as device networks expand into larger control networks through fieldbus-to-Ethernet integration. It is difficult to transfer the network of old systems to a new protocol; thus, the management becomes more complex and network performance becomes highly critical.
- ABB Ltd.
- B&R Automation
- Beckhoff Automation
- Belden Inc. (Hirschmann)
- Cisco Systems, Inc.
- Innovasic Inc.
- Moxa Inc.
- Rockwell Automation
- Schneider Electric SE
- Siemens AG
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Market, by Offering
8 Market, by Protocol
9 Market, by End-User Industry
10 Geographical Analysis
11 Company Profile
For more information about this report visit http://www.researchandmarkets.com/research/873mst/industrial
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SOURCE Research and Markets