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Industrial Ethernet Global Market Report 2022: Ukraine-Russia War Impact
Major players in the industrial ethernet market are Cisco Systems Inc, Siemens AG, Rockwell Automation, Beckhoff Automation, Moxa Inc, Belden Inc, Huawei Technologies Co Ltd, ABB Ltd, Schneider Electric SE, ACS Motion Control, Physik Instrumente GmbH, IFM Electronics GmbH, Analog Devices Inc, Yokogawa Electric Corporation, Eaton Corporation, Robert Bosch GmbH , Bosch Rexroth AG, Honeywell International Inc, Advantech, B&R Automation, General Electric, Weidmuller, Arista Networks, and Mitsubishi Electric.
New York, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Ethernet Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06377792/?utm_source=GNW
The global industrial ethernet market is expected to grow from $24.30 billion in 2021 to $27.99 billion in 2022 at a compound annual growth rate (CAGR) of 15.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The industrial ethernet market is expected to reach $47.59 billion in 2026 at a CAGR of 14.2%.
The industrial ethernet (IE) market consists of revenues earned by entities by providing IE services such as internet communication services, device network services, network, and security control.The market value includes the value of related goods sold by the service provider or included within the service offering.
The industrial ethernet market also includes sales of programmable logic controller (PLCs), local and distributed input/output, servo controllers and drives which are used in providing IE services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Industrial Ethernet (IE) is the application of ethernet in an industrial setting using deterministic and real-time control methods.It is built on ordinary ethernet hardware and internet protocols, with a proprietary application layer added on top.
This application layer protocol ensures that the correct data is provided and received when and where it is required for a particular operation.
Asia-Pacific was the largest region in the industrial ethernet market in 2021. The regions covered in the industrial ethernet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main offerings of industrial ethernet are hardware, software, and services.The hardware comprises a recording device, a CPU, a transmitter, a receiver.
Hardware refers to any of the physical components of a computer, whether analogue or digital.These components relate to industrial automation and used for various communication services.
It uses different protocols such as ethercat, ethernet/IP, profinet, powerlink, sercos III, CC-link IE, that are applied in oil and gas, aerospace and defense, energy and power, electrical and electronics, automotive and transport, chemicals, and others.
The growing popularity of smart automobiles is expected to propel the growth of the industrial ethernet market going forward.The smart automobile is a technique that links directly to the vehicle’s electronic control module to record, track, and manage multiple automobile control subsystems.
Industrial ethernet is a reliable and significantly faster networking protocol that powers smart automotive technologies such as self-driving cars, vehicle-to-everything communication, advanced driver-assistance system (ADAS), infotainment systems, and others within the automobile industry.For instance, in April 2022, European Patent Office (EPO), a Germany-based administrative council, stated in their Patent Index 2021 that patent applications for two smart automobile technologies, such as hybrid drive control and electric propulsion, are increasing.
In comparison to 2020, the hybrid drive control grew by 22.8% in 2021, and electric propulsion has increased by 15.1% since 2020. Therefore, the growing popularity of smart automobiles will drive the industrial ethernet market.
Technological advancement is a key trend gaining popularity in the industrial ethernet market.Major companies operating in the industrial ethernet sector are focused on innovative products to sustain their position.
For instance, Westermo Network Technologies, a Sweden-based designer, and manufacturer of industrial data communications products, launched a next-generation industrial ethernet switch platform.This newly developed and advanced ethernet switch platform is suited for handling big data and industrial internet of things (IIoT) applications.
The platform uses latest generation WeOS operating system that powers the new switch platform by maximizing the capability of the new hardware. It combines hardware, software, and network design support to provide improved capabilities, lower the total cost of ownership, and create dependable networks across a broader range of sectors.
In October 2019, Nidec Corporation, a Japan-based manufacturer, and distributor of electric motors, acquired OMRON Corporation for an undisclosed amount.The acquisition will allow the company to develop new module and system products by merging Nidec Group’s motors, pumps, gearboxes, and other components with OMRON Automotive Electronics’ products, such as electronic control units (ECUs) and other electronics.
OMRON Automotive Electronics co. Ltd is a Japan-based manufacturer and provider of industrial ethernet products and other related components.
The countries covered in the industrial ethernet market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The industrial ethernet market research report is one of a series of new reports that provides industrial ethernet market statistics, including industrial ethernet industry global market size, regional shares, competitors with a industrial ethernet market share, detailed industrial ethernet market segments, market trends and opportunities, and any further data you may need to thrive in the industrial ethernet industry. This industrial ethernet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06377792/?utm_source=GNW
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