Industrial Ethernet Market To Witness Double-Digit Growth, Revenue To Surge To US$ 58.98 Billion By 2022 – ZMR Blog
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Industrial Ethernet Market To Witness Double-Digit Growth, Revenue To Surge To US$ 58.98 Billion By 2022

With the presence of a large pool of participants, the global industrial ethernet market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Schneider Electric SE, Honeywell International, Siemens AG, and Rockwell Automation are some of the key vendors of industrial ethernet across the world. These players across industrial ethernet market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the industrial ethernet market study.

Citing an instance, in August 2018, Antaira Technologies announced the extension of industrial ethernet range through the launching of IMC-C100-XX series. In another breakthrough that can drive the industrial ethernet industry, on August 8th 2018, Omron released a new NX1 series machine automation controller that can help manufacturers increase their output.

As estimated in this report, the global industrial ethernet market stood at US$ 23.96 billion in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this market is expected to reach US$58.98 billion by the end of the forecast period. The main protocol types available in this industrial ethernet market are PROFINET, CC-Link IE, Ethernet/IP, EtherCAT, Modbus TCP, Sercos III, and POWERLINK. Among them, the demand for PROFINET is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.

Wide Applications Across Myriad Sectors To Soar Market Growth

“Advent of innovative technologies such as big data analytics and cloud-based solutions along with its escalated use in data centers is anticipated to impel the industrial ethernet market growth in the ensuing years,” says the author of this study. Apart from this, growing implementation of industrial internet of things technology across myriad sectors has further fuelled the business scope. Furthermore, surging acceptance of advanced industrial ethernet protocols in smart firms is anticipated to support the expansion of industrial ethernet market in the forthcoming years. Reportedly, industrial ethernet finds massive application across automotive, oil & gas, pharmaceutical, electrical & electronics, and aerospace & defense sectors.

Low determinism witnessed across ethernet communication networks, however, is predicted to inhibit the evolution of industrial ethernet market in the near future. Nevertheless, untapped market potential of emerging nations along with rise in the ethernet usage across the globe will catapult the business expansion in the next few years, thereby normalizing the impact of hindrances on the industrial ethernet market, reports the industrial ethernet market study.

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High Demand In Consumer Electronics & Vehicles To Assist APAC’s Dominance

Regionally, Asia Pacific has been leading the worldwide industrial ethernet market and is anticipated to continue on the dominant position in the years to come, states the industrial ethernet market study. Immense popularity of industrial ethernet across consumer electronics as well as automotive sectors in countries such as China, South Korea, Japan, and India is the main factor behind the dominance of the Asia Pacific industrial ethernet market.

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