Industrial Ethernet market is projected to surpass USD 70 billion by 2025. The rising demand for higher bandwidth and cloud services by several enterprises across various industries is supporting the increasing number of data centers and enhancement in their capacities. These data centers are highly adopting industrial ethernet to cater to the demand of cloud and IoT platforms, leading to the growth of the industrial Ethernet market. The rising IIoT adoption in several enterprises for structuring & restructuring industrial networks is increasing the demand for Industrial Ethernet products, such as switches, gateways, connectors, processors, and controllers, resulting in the market growth over the forecast timeline.
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The healthcare, automotive, and aerospace & defense sectors are growingly adopting Industry 4.0 to enhance their production process and logistics, contributing to the growth of the industrial Ethernet market. The energy & power in the application segment held a significant market share in 2018 and is expected to maintain its significant market share over the forecast period. The industrial ethernet enables rugged & reliable communication in the oil & gas exploration, resulting in increased productivity with reduced cost. For instance, in October 2016, Siemens claimed that its product lines, SCALANCE and RUGGEDCOM, will reduce the asset downtime by 66% in the energy & power sector.
The hardware segment held a major portion of the market share in 2018 due to huge deployments of such devices in various industry verticals to become more connected. However, this has led to a surge in the demand for services as several hardware devices are being used to establish connectivity. As the hardware & software components are provided by several manufacturers, they need to be integrated with the existing systems. This will augment the demand for integration, installation, and maintenance services, resulting in the growth of the service segment over the forecast period.
The rising trend of enterprise mobility and the growing adoption of BYOD have resulted in a rise in the number of deployments of network devices. This has made it difficult for IT teams to manage these devices in an efficient manner. Thus, the demand for service providers will grow over the years as they offer support to the management of such devices from configuration and installation to ongoing support.
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The PROFINET in the protocol segment is anticipated to grow at a significant CAGR due to its features such as faster, safer, and low-cost data transfer in real-time operation. The protocol is growingly deployed in process automation, factory automation, automobile manufacturing lines, building automation, robotics, and power plants as it provides protection against hazardous environments. The remote monitoring using the protocol contributes to market growth.
The Asia Pacific industrial Ethernet market is projected to grow at a significant CAGR during the forecast period. The supportive government initiatives and hefty investments to extensively convert traditional grids into smart grids in countries such as China, Japan, and India are resulting in the proliferation of the industrial Ethernet market. The green initiatives adopted by the government of the region to reduce carbon intensity and increase the use of a renewable source of energy are supporting the growth of the smart grid technology in the region, resulting in the market growth. For instance, in August 2016, China announced to invest USD 77.6 billion over a period of next 10 years for converting traditional grids into smart grids. This will help the country to reduce the carbon intensity of its GDP by 40%-45% by 2020 relative to 2005.
Some of the key players operating in the Industrial Ethernet market are, ABB Ltd., Advanced Motion Control, ACS Motion Control Ltd., Alta Industrial Motion, Beckhoff Automation, B&R Automation, Belden, Inc. (Hirschmann), Cisco Systems, Inc., Bosch Rexroth AG, Honeywell International, Inc., Eaton Corporation, Moxa, Inc., Innovasic, Inc., Omron Corporation, Schneider Electric SE, Rockwell Automation, Parker Hannifin Corporation, Yaskawa Electric Corporation, Siemens AG, and Yokogawa Electric Corporation.
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The major players in the industrial Ethernet market are focusing on various business growth strategies such as new product developments, mergers, acquisitions, and partnerships. This enables them to widen their existing portfolio and increase their geographical reach. For instance, in September 2018, NXP Semiconductors N.V. acquired OmniPHY. The acquisition will improve the industrial ethernet products in the automotive sector. Additionally, in January 2019, Cisco acquired Luxtera for USD 600 million to incorporate its technology across the company?s spanning enterprise, data center, intent-based networking portfolio, and service provider markets.
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