The industrial ethernet market was valued at USD 9.2 billion in 2020 and is projected to reach USD 13.7 billion by 2026. It is expected to grow at a CAGR of 7.3% during the forecast period. Growing need for scalable, fast, reliable, and interoperable communication protocols, increasing initiatives by governments of developing countries to promote adoption of industrial automation, and growing popularity of smart automobiles are contributing to the growth of the industrial ethernet market. Rising adoption of 5G to act as a growth opportunity for the market players.
Siemens (Germany), Rockwell Automation (US), Cisco (US), Belden (US), Omron (Japan), Moxa (Taiwan), Huawei Technologies (Sweden), SICK (Germany), Schneider Electric (France), and ABB (Switzerland) are the key players in the industrial ethernet market. These top players have strong portfolios of products and services and presence in both mature and emerging markets.
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Cisco Systems was founded in 1984 by a small group of computer scientists from Stanford University. The company has its headquarters in San Jose, California (U.S.), and a total employee strength of 77,500 as of March 2020. Cisco Systems’ business is organized into the following three geographic segments: the Americas; Europe, Middle East, and Africa (EMEA); and Asia Pacific, Japan, and China (APJC). Since the companys inception, Cisco engineers have been engaged in developing Internet Protocol-based (IP-based) networking technologies. The company designs and sells a broad range of products, provides services, and delivers integrated solutions to develop and connect networks across the world, building the Internet. Cisco Systems also provides a broad range of service and solution offerings, including technical support services and advanced services and solutions including cloud, video, mobility, security, collaboration, and analytics. With more than 30 years of experience in the wireless industry, CISCO is among the key industry players. The company has a strong industrial ethernet product portfolio consisting of many different products. Its industrial ethernet product range includes switches of different series that could be used for different applications. Additionally, the company, is trying to maintain its competitive edge in the market, can be seen continuously strengthening its product portfolio by launching new products and acquiring different companies. Apart from a strong product portfolio, the company also has a strong brand image, sales network, and customer base.
Siemens is positioned globally in the fields of electrification, automation, and digitalization. It is a leading supplier of systems for power generation and transmission, and medical diagnosis. The company also plays a pioneering role in infrastructure and industrial solutions. Siemens operates its industrial business through the Gas and Power, Digital Industries, Smart Infrastructure, Siemens Healthineers, Siemens Gamesa Renewable Energy, and Mobility segments. The Digital Industries segment offers a wide-ranging product portfolio and systems solutions for automation in discrete and process industries. These offerings comprise automation systems and software for factories, motors, numerical control systems, drives, and inverters, and integrated automation systems for machine tools and production machines. This segment also provides process control systems, machine-to-machine communication products, and radio frequency identification systems. Siemens has a strong Industrial Ethernet product portfolio consisting of many products. The overall experience of the company’s management team in the Industrial ethernet industry is over 20 years. The company offers various models of industrial ethernet products with different features and functionalities. The Siemens Digital Industries division business has a presence in all regions. It has grown more strongly in Asian and Australian markets, with a simultaneous accelerated growth in Europe.
Industrial Ethernet Market With COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Protocol (PROFINET, EtherNet/IP), End-use Industry (Automotive & Transportation, Electrical & Electronics), and Region - Global Forecast to 2026
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