2 major trends impacting industrial ethernet market outlook
Publisher : Fractovia | Latest Update: 2019-06-20 | Published Date : 2018-03-21Request Sample
As automation continues to penetrate major industry verticals, industrial ethernet market is set to become one of the most rapidly evolving business spaces of recent times for efficient communication networking. This standard-based intelligent switching technology is claimed to offer a plethora of advantages over conventional industrial networks on virtue of its flexibility, scalability, and robustness.
Although initially being considered as a solution that is limited to corporate world, industrial ethernet market size, of late, has been gaining substantial momentum in manufacturing arena. In persistent efforts to make organizations more productive and efficient, manufacturers have been rapidly integrating ethernet technology on the factory floor.
Canada Industrial Ethernet Market Revenue, By Service, 2018 & 2025 (USD Billion)
Surging demand for industry standardization
A major credit of the anticipated steeping revenue graph of industrial ethernet market goes to the increasing number of lucrative initiatives undertaken by the tech giants with respect to standardization. Say for instance, Qualcomm’s demonstration of wireless Profinet Industrial Ethernet over 5G New Radio(NR) had created quite a buzz in the business space a couple of years ago.
Private 5G Network for industrial IoT, as per experts’ opinion, is a significant arena that would demand attention for the next phase of global 3GPP 5G NR. In response to this opportunistic wave, the American telecommunication conglomerate may have taken this initiative, setting it as a standard for other players of the global industrial communication market.
Reportedly, the demonstration showcased new utilization areas for 5G New Radio URLLC (ultra-reliable low latency communication) sub-millisecond latency, including its credential to run command-and-control for various high demand automation applications. This wireless technology protocol, having been endorsed in the changing landscape of Industry 4.0, is expected to widen the application outreach of industrial ethernet market.
This is due to the fact that industrial ethernet over a high-speed wireless network claims to facilitate the operation of reconfigurable factories, a strong concept of fourth Industrial Revolution. Experts believe the low latency supported by 5G network, could also open up lucrative opportunities for factories that banks on precision operations and precision instruments.
Thus, it can be aptly inferred that a paradigm transition from mere consumer awareness to increased focus on implementation of standards has indeed played a pivotal role in industrial ethernet market penetration. EtherNet/IP, SERCOS III, EtherCAT, and POWERLINK are some of the most widely applied protocols that have collectively paved a way for smart manufacturing via efficient communication networking.
Rise of automation deployment in the Asia Pacific
Speaking of that, it is imperative to mention that the Asia Pacific industrial ethernet market is strongly characterized by this standardization. As per an authentic market assessment report, APAC industrial.
ethernet industry size will depict the highest CAGR over 2019-2025, majorly on account of the robust growth of automation in the manufacturing sector. Not to mention, the region is also currently characterized by the expansion of Industry 4.0.
The dominance of the regional industrial ethernet market can also be attributed to the supportive governmental policies regarding increasing deployment of automation across automotive and manufacturing domains. In tandem, the region also houses some of the renowned manufacturing giants that have been constantly working on diversifying their product portfolio.
The ongoing efforts undertaken by industrial ethernet market players depicts the extent by which ethernet technology has penetrated the manufacturing ecosystem. Presently, companies partaking in the business space have been aggressively focusing on bringing advanced ethernet switches, specifically designed for harsh environments.
Say for instance, NetComm Wireless, the Australia based telecommunication giant, made it to the headlines a couple of years ago, with the launch of its 4G LTE Cat 6 Industrial IoT router. Equipped with RDM (Remote Device Manager) platform and dual band WiFi, this high-speed connectivity for IIoT applications is particularly designed to control critical operational technology even in harsh industrial environments.
Some of the other potential contenders in industrial ethernet market who have also worked on the same profile include Moxa, Siemens, Allied Telesis, and Mencom Corporation. All in all, with robust product innovation underway and a strong regulatory groundwork backing it, industrial ethernet market is set to explore a plethora of new applications in the ensuing years, with a target valuation of USD 70 billion by 2025.
