Industrial Ethernet Market Growth Analysis, Industry Size, Market Opportunities and Future Estimates

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Industrial Ethernet Market is expected to witness significant growth by 2027 driven by growing demand for products in various applications. Moreover, the growing focus of enterprises on improving operational efficiency is expected to further support the market growth throughout the forecast period.

Industrial Ethernet refers to a set of Ethernet protocols based on standard Ethernet hardware and Internet protocols with a proprietary application layer, which ensures that the correct information is transmitted and received as needed for a particular operation.

Industrial Ethernet accelerates the synchronization and communication of actuators involved in production processes. Additionally, several benefits such as reduced downtime, increased cost savings, and high flexibility have positively impacted the expansion of the Industrial Ethernet market across the globe.

The Industrial Ethernet market has been categorized based on component, protocol, application, and region. Based on components, the market was further segmented into hardware, software, and service. The hardware component segment has been divided into switches, controllers and processors, communication interface, connectors, hubs, router and gateways, etc.

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The switch hardware segment has been divided into 2.5 – 10 Gbps, up to 1 Gbps, 1 – 2.5 Gbps, and above 10 Gbps. The switch segment above 10 Gbps was valued at over $1 billion in 2020 and is expected to grow at a notable rate over the period 2021-2027. Rapid virtualization in the manufacturing industry is expected to fuel the demand for Ethernet switches above 10 Gbps in the coming years.

In 2020, the hardware segment of hubs, routers, and gateways held a large market share and is expected to register a CAGR of around 5% over the review period. Hubs, routers, and gateways make it easier to network devices with controllers and connect those controllers to the control room, which is likely to drive segmental adoption over the next few years.

The connector hardware segment is expected to see significant growth of approximately 15% CAGR over the life of the study. As more businesses seek higher network speeds with high-quality data transmission, there is a growing demand for connectors, which is expected to bolster segmental expansion in the coming years.

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The communication interface hardware segment is expected to grow at a CAGR of over 20% throughout the analysis period to reach considerable valuation by the end of 2027. Due to their ability to support various applications of network topologies, such as gateways, sensors, transmitters, remote I/O solutions and operator terminals, communication interfaces are expected to experience profitable expansion in the coming years.

The service component segment has been separated into maintenance service and installation and test service. The maintenance services segment is expected to grow substantially by 2027, growing around 25% CAGR during the forecast period. The growing importance of predictive maintenance in the manufacturing industry is likely to foster segmental insights in the future.

Regarding the protocol, the industrial Ethernet market has been divided into Ethernet TCP/IP, HSE, Modbus TCP/IP, PROFINET, Gigabit, EtherCAT, Powerlink, Sercos III and others. The EtherCAT protocol segment is expected to deliver lucrative gains, growing at a CAGR of over 15% over the estimated timeframe. EtherCAT’s ability to support multiple device profiles and security protocols is expected to drive segment revenue growth through 2027.

From an application perspective, the industrial Ethernet market has been segmented into oil & gas, energy & power, aerospace & defense, automotive & transportation, power & electronics, chemical, and others. The aerospace and defense applications segment is expected to grow at a CAGR of over 10% throughout the assessment period. These components ensure proper data transfer between different aircraft systems, which is expected to drive the demand for products in the aerospace and defense sector in the coming years.

The power and energy applications segment achieved a market share of almost 15% in 2019 and is expected to grow at a significant pace over the period 2021-2027. Growing adoption of industrial Ethernet switches in the industry is expected to drive segmental adoption over the study period.

In the regional landscape, LAMEA accounted for around 8% of the Industrial Ethernet market in terms of revenue in 2019 and is expected to record optimistic revenue growth by the end of 2027. Growing automation in the oil and gas sector gas is expected to propel the regional market growth over the forecast period.


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