The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Growth Overview

• The industrial ethernet market has experienced rapid growth, reaching $32.01 billion in 2023 and expected to rise to $36.56 billion in 2024, with a CAGR of 14.2%.
• Further expansion is anticipated, projecting the market to reach $63.91 billion in 2028, with a CAGR of 15.0%.

Smart Automobiles as Catalysts

• Smart automobiles play a pivotal role in propelling industrial ethernet market growth.
• Adoption of industrial ethernet enables various smart automotive technologies such as self-driving cars, ADAS, and infotainment systems.
• Patent applications for smart automobile technologies, like hybrid drive control and electric propulsion, are on the rise, driving market expansion.

Major Players in the Market

• Key companies driving the industrial ethernet market include Cisco Systems Inc., Siemens AG, Rockwell Automation Inc., and Huawei Technologies Co Ltd.
• These companies lead innovation and provide essential networking solutions for industrial applications.

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Innovative Edge Management Systems

• Major companies focus on introducing innovative products like industrial edge management systems to maintain market competitiveness.
• Siemens launched its new Industrial Edge Management System, optimizing license management and enhancing edge computing capabilities for industrial production.

Strategic Acquisitions Bolster Infrastructure

• HMS Industrial Networks AB acquired 70% of Procentec B. V, enhancing communication infrastructure for industrial networks.
• Procentec B. V offers reliable network infrastructure for industrial standards like PROFIBUS, PROFINET, and EtherNet/IP, filling crucial gaps in communication systems.

Market Segmentation

• Offerings: Hardware, Software, Services.
• Protocols: EtherCAT, EtherNet/IP, Profinet, Powerlink, Sercos III, CC-Link IE, and Other Protocols.
• Applications: Oil and Gas, Aerospace and Defense, Energy and Power, Electrical and Electronics, Automotive and Transport, Chemicals, and Other Applications.

Regional Dynamics

• Asia-Pacific emerged as the largest region in the industrial ethernet market in 2023, followed by North America.
• These regions exhibit significant demand and adoption of industrial ethernet solutions across various sectors.

Future Trends and Outlook

• Adoption of gigabit and 10 gigabit ethernet in industrial applications will continue to rise.
• Development of Power over Ethernet (POE) and Single Pair Ethernet (SPE) simplifies connectivity solutions.
• Integration of wireless communication and emphasis on network convergence drive industrial ethernet advancements.
• Continued expansion of Industry 4.0 initiatives and increased emphasis on cybersecurity will shape the market landscape.

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The Industrial Ethernet Global Market Report 2024  provides comprehensive insights on the industrial ethernet market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the industrial ethernet market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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