Industrial Ethernet Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Industrial ethernet (IE) is the application of ethernet in an industrial setting using deterministic and real-time control methods. It is built on ordinary ethernet hardware and internet protocols, with a proprietary application layer added on top. This application layer protocol ensures that the correct data is provided and received when and where it is required for a particular operation.

Sizing and Forecast
The industrial ethernet market size has grown rapidly in recent years. It will grow from $32.01 billion in 2023 to $36.56 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to growth in industrial automation, adoption of ethernet for real-time communication, increase in industrial iot (iiot) deployments, demand for high-speed and reliable connectivity, emphasis on standardization of industrial communication protocols.

The industrial ethernet market size is expected to see rapid growth in the next few years. It will grow to $63.91 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to integration of time-sensitive networking (tsn) in industrial ethernet, expansion of industry 4.0 initiatives, increased adoption in smart manufacturing, growth in industrial edge computing, emphasis on cybersecurity in industrial networks. Major trends in the forecast period include adoption of gigabit and 10 gigabit ethernet in industrial applications, development of power over ethernet (poe) for industrial devices, use of single pair ethernet (spe) for simplified connectivity, integration of wireless communication in industrial ethernet networks, emphasis on network convergence in industrial communication systems.

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Segmentation & Regional Insights
The industrial ethernet market covered in this report is segmented –

1) By Offering: Hardware, Software, Services
2) By Protocol: EtherCAT, EtherNet/IP, Profinet, Powerlink, Sercos III, CC-Link IE, Other Protocols
3) By Application: Oil and Gas, Aerospace and Defense, Energy and Power, Electrical and Electronics, Automotive and Transport, Chemicals, Other Applications

Asia-Pacific was the largest region in the industrial ethernet market in 2023. North America was the second largest region of the industrial ethernet market share. The regions covered in the industrial ethernet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The growing popularity of smart automobiles is expected to propel the growth of the industrial ethernet market going forward. The smart automobile is a technique that links directly to the vehicle’s electronic control module to record, track, and manage multiple automobile control subsystems. Industrial ethernet is a reliable and significantly faster networking protocol that powers smart automotive technologies such as self-driving cars, vehicle-to-everything communication, advanced driver-assistance system (ADAS), infotainment systems, and others within the automobile industry. For instance, in April 2022, European Patent Office (EPO), a Germany-based administrative council, stated in their Patent Index 2021 that patent applications for two smart automobile technologies, such as hybrid drive control and electric propulsion, are increasing. In comparison to 2020, the hybrid drive control grew by 22.8% in 2021, and electric propulsion has increased by 15.1% since 2020. Therefore, the growing popularity of smart automobiles will drive the industrial ethernet market growth.

Key Industry Players
Major companies operating in the industrial ethernet market report are Cisco Systems Inc., Siemens AG, Rockwell Automation Inc., Beckhoff Automation, Moxa Inc., Belden Inc., Huawei Technologies Co Ltd., Asea Brown Boveri Ltd., Schneider Electric SE, ACS Motion Control Ltd., Physik Instrumente GmbH, IFM Electronics GmbH., Analog Devices Inc., Yokogawa Electric Corporation, Eaton Corporation., Robert Bosch GmbH, Bosch Rexroth AG., Honeywell International Inc., Advantech Co. Ltd., B&R Automation, General Electric Pvt Ltd., Weidmuller, Arista Networks Inc., Mitsubishi Electric Corporation., Alta Industrial Motion, National Instruments Corporation., Omron Corporation., Parker Hannifin Corporation., Phoenix Contact

The industrial ethernet market report table of contents includes:

1. Executive Summary

2. Industrial Ethernet Market Characteristics

3. Industrial Ethernet Market Trends And Strategies

4. Industrial Ethernet Market – Macro Economic Scenario

5. Global Industrial Ethernet Market Size and Growth

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31. Global Industrial Ethernet Market Competitive Benchmarking

32. Global Industrial Ethernet Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Industrial Ethernet Market

34. Industrial Ethernet Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Cisco Systems Inc

Siemens AG

Rockwell Automation Inc.

Beckhoff Automation

Moxa Inc

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