As per the report titled ‘Industrial Ethernet Market Size By Component (Hardware [Switches, Hubs, Router & Gateways, Connectors, Communication Interface, Controller & Processors], Software, Service [Integration & Testing Service, Maintenance Service]) By Protocol (Ethernet TCP/IP, Gigabit, PROFINET, Modbus TCP/IP, Powerlink, EtherCAT, Sercos III, HSE), By Application (Automotive & Transport, Aerospace & Defense, Electrical & Electronics, Oil & Gas, Energy & Power, Chemical), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, Australia & New Zealand, China, India, Japan, South Korea, Brazil, Mexico, Argentina, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 - 2025’ available with Market Study Report, the global industrial ethernet market is projected to surpass USD 70 billion by the year 2025.
 

Rising demand for higher bandwidth and cloud services from various industry vertical is amplifying the number of data centers across the globe, which in turn is fueling the demand for industrial ethernet. Increasing adoption of IIoT solutions by several enterprises to manage their network infrastructure is prompting the deployment of various industrial ethernet products such as gateways, switches, connectors, controllers, and processors. This factor coupled with the implementation of Industry 4.0 technologies such as automation, cloud-computing, and AI to enhance the production process and logistics, will boost the industrial ethernet market growth in the coming years.
 

Based on the component, hardware segment accounted for majority share of industrial ethernet market in 2018 and is expected to grow considerably over the forecast period. The segment growth can be affixed to increasing deployment of ethernet for reliable and high-speed connectivity across enterprises. However, these devices are provided by several manufacturers and need to be integrated into the existing system. This creates a need for integration, installation, and maintenance services, which in turn is augmenting service component segment of industrial ethernet market.  
 

Speaking of the application scope, energy & power segment held a significant market share in 2018 and is expected to show modest growth during the study period. Industrial ethernet offers reliable communication in oil & gas exploration, hence increasing productivity at optimal cost.
 

Considering the geographical landscape, Asia Pacific industrial ethernet market is projected to exhibit a strong CAGR over the forecast timeline, on account of favorable government initiatives and inflowing investments to upgrade existing grids to smart grids in countries such as India, China, and Japan. Green initiatives to reduce carbon footprint and rising adoption of renewable energy sources will play a key role in expansion of smart grids which require a plethora of ethernet devices for optimal operation.
 

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Key players of industrial ethernet market are ABB Ltd., Alta Industrial Motion, B&R Automation, Beckhoff Automation, Bosch Rexroth AG, Cisco Systems, Inc., Honeywell International, Inc., Moxa, Inc., Eaton Corporation, Innovasic, Inc., Schneider Electric SE, Omron Corporation, Rockwell Automation, Yaskawa Electric Corporation, Parker Hannifin Corporation, Yokogawa Electric Corporation, ACS Motion Control Ltd., Belden, Inc. (Hirschmann), Advanced Motion Control, and Siemens AG.