Industrial Ethernet Market set for massive growth over 2024
Date: 2018-08-16   Author: Ronak Bora  Category: #market

Industrial Ethernet Market set for massive growth over 2024

The Industrial Ethernet Market is set to grow from its current market value of more than $20 billion to over $72 billion by 2024; according to a new research report by Global Market Insights, Inc.

The term industrial Ethernet comprises a series of expansions to the IEEE 802.3 Ethernet standard through which the communication technology in the industrial environment is implemented. Traditional Ethernet was developed for office-based applications; it is subject to certain restrictions and cannot be used in harsh industrial environments. Industrial Ethernet effectively overcomes these limitations and offers significant expansions of the Ethernet technology framework for industrial applications.

Industrial Ethernet offers a wide range of network security measures to facilitate data integrity and confidentiality. It ensures that the data cannot be accessed by any unauthorized users. Manufacturing devices, such as Programmable Logic Controllers (PLCs) as well as PCs, can be effectively protected due to these network security features. Industrial applications usually depend on broadcast or multicast communication systems. Industrial Ethernet uses intelligent switching platforms, which can dynamically configure interfaces. As a result, the traffic is forwarded to only those ports that are associated with the requested data. Thus, client devices can be relieved from processing unneeded frames.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2437

The players operating in this market offer a wide range of industrial Ethernet switches, service routers, communication interfaces, and Ethernet network media. Manufacturers specializing in industrial Ethernet solutions spend considerable time and resources in developing advanced hardware and software solutions to offer improved process productivity by streamlining industrial network infrastructures. Along with these solutions, providers also offer allied services that include installation, functional testing, training & consultation, and maintenance services.

North America dominated the industrial Ethernet market in 2016 with a major share of around 57% and it is expected to maintain this dominance over the forecast timeline owing to the rapid growth of industrial automation in the region. As manufacturers are emphasizing more on getting maximum returns on their capital investments including their network infrastructures, the adoption of industrial Ethernet is expected to swiftly accelerate between 2017 and 2024.

The Asia Pacific Ethernet market is projected to exhibit the fastest growth during the forecast period owing to rapid industrialization in countries including China, India, Japan, and Singapore. Also, as the popularity and the adoption of Industrial IoT (IIoT) in the region are growing consistently, the market will witness an exponential growth over the forecast timeline.

Browse Full Report @ https://www.gminsights.com/industry-analysis/industrial-ethernet-market

The players operating in the industrial Ethernet market are aggressively involved in designing and commercializing technologically-advanced products such as switches to enable customers to manage industrial networks more effectively. For instance, in March 2017, Moxa launched its SDS-3008 smart switch under its industrial Ethernet switch family. The switch allows users to simplify HMI/SCADA integration by activating pre-configured IA protocols in one click. Some of the key players operating in the Industrial Ethernet market are Advanced Motion Control, ABB Ltd., ACS Motion Control Ltd., Beckhoff Automation, Alta Industrial Motion, B&R Automation, Cisco Systems, Inc., Belden, Inc. (Hirschmann), Bosch Rexroth AG, Eaton Corporation, Moxa, Inc., Honeywell International, Inc., Innovasic, Inc., Schneider Electric SE, Parker Hannifin Corporation, Omron Corporation, Siemens AG, Rockwell Automation, Yokogawa Electric Corporation, and Yaskawa Electric Corporation.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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