Industrial Ethernet is the usage of Ethernet in the surroundings of industry with the conventions which serve determinism and real-time control. Conventions for industrial Ethernet involve EtherNet, PROFINET, SERCOS lll, Modbus TCP, EtherCAT and several others. These protocols or conventions allow for real-time control over the network communication in the automotive, aerospace and defense, electricals and electronics and oil and gas industries, among others. Additionally, the increment of the datacenter capacities, wide adoption of the Ethernet in industrial automation and growing penetration of the FTTH broadband internet are the major growth drivers of this market across the globe which effectively lead the market growth in the coming years. Not only has this, the market key player can acquire the huge market share with the opportunity of development of 5G network which will be further beneficial for leading the market growth more actively across the globe in the forecasted period.
With the opportunities and effective growth drivers the market growth can be hinder with the restraints likewise the network security issue and higher cost of transition of new Ethernet protocol from the Old one. According to the report analysis, ‘Global Industrial Ethernet Market Research Report – Forecast to 2023’ states that some of the major companies which are currently functioning in this market more actively for acquiring the huge market share for abolishing the restraints more significantly with the establishment of new effective strategies and policies includes Beckhoff Automation (Germany), Cisco Systems Inc. (US), Rockwell Automation, Inc. (US), Schneider Electric (France), ABB Group (Switzerland), Belden Incorporated (US), Bosch Rexorth AG (Germany), ACS Motion Control Ltd (Israel), and General Electric Company (US). Moreover, the data centers store large quantities of data from more than 100 billion web pages over 100 million websites accessing by billions every day. Subsequently, a flow in the data traffic leads to a rise in the requirement for the data centers by enterprises of all the sizes. Through the data centers, key players confirm and serve seamless connectivity to end users.
On the basis of geography, with the effective applications and opportunities in the market of this, is spread across the globe which majorly includes North America, Asia-Pacific, Europe, and the rest of the world. Whereas, the global industrial Ethernet market is anticipated to reach USD 40.6 billion by the end of 2023. For instance, in 2017, the Asia Pacific region led the Industrial Ethernet market with the largest market share. The region has a huge application market for industrial Ethernet in the broadband and fiber optics and is a developing market for the data centers, which is anticipated to encourage the market growth of this in the region in the forecasted period. Furthermore, the North America is likely to be the fastest-rising industrial market. The segment of IT services is likely to be the fastest-growing market during the review period. It is expected that in the near future, the market of industrial Ethernet will grow across the globe more significantly over the decades with the establishment and development of the data centers across the globe.
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Ankur Gupta, Head Marketing & Communications