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Market Analysis
The global industrial ethernet market will touch USD 17.8 billion at an 11.12% CAGR by 2032, as per the recent Market Research Future report.
Key Players
Prominent market players profiled in the global industrial ethernet market report include
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Report Scope:
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 6.9 billion |
|
Market Size 2023 |
USD 7.7 billion |
|
Market Size 2030 |
USD 17.8 billion |
|
Compound Annual Growth Rate (CAGR) |
11.12% (2023-2030) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2030 |
Market Segmentation
The global industrial ethernet market is bifurcated based on industry vertical, protocol, and component.
Based on component, hardware will lead this market over the forecast period.
By protocol, HSE will domineer the market over the forecast period.
By industry vertical, automotive will spearhead the market over the forecast period.
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Drivers
Increasing Adoption in Auto Industry to Boost Market Growth
The increasing adoption of industrial ethernet in the automotive industry will lead the market over the forecast period. This is owing to factors such as significant technological advances in the auto sector and the burgeoning demand for hybrid connectivity.
Opportunities
Preference for Industrial Ethernet over Other Industrial Networks to offer Robust Opportunities
The preference for industrial ethernet over other industrial networks will offer robust opportunities for the industrial ethernet market in the forecast period. The former offers a plethora of perks such as the option to utilize optical fibre for an increased distance, improved interoperability, the ability of using standard networking hardware both for wireless and wired communication, and increased data speed for up to about 1Gbit/s with the Gigabit Ethernet.
Restraints and Challenges
Compatibility Issues to act as Market Challenge
Compatibility challenges, operational hurdles, and high capital setup cost may act as market challenges over the forecast period.
COVID-19 Analysis
At the time of the COVID-19 epidemic, ethernet had been implemented rapidly in the industrial domain. The appearance of the virus indeed accelerated market dynamics & the rising industrial IoT penetration. Likewise, in the post-pandemic era, the manufacturing technology shifted owing to the launch of improved technologies which permit remote operations. The market acceptance too has grown for the burgeoning popularity of the industry 4.0 technology that boded well for the growth of the industrial ethernet market.
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Regional Analysis
APAC to Spearhead Industrial Ethernet Market
The APAC region will spearhead the market over the forecast period. The surging need of the oil and gas industry for automation technologies coupled with the region’s growing demand for more sophisticated technologies for boosting productivity, saving costs, and increasing operational effectiveness are boosting the revenue growth of the market. The need for the industrial ethernet solution for the smart city is being propelled by the large investments made by the government in the region in infrastructure development. China had the utmost market share while that in India was the fastest growing in the region.
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