Reports estimate that the global industrial ethernet market size is slated to grow substantially in the forthcoming years, with the increasing adoption of advanced industrial ethernet protocols worldwide. Industrial ethernet is the application of ethernet in industrial settings using protocols that provide real-time control and determinism. Many of these protocols use a modified medial access control (MAC) layer to deliver low latency and determinism.
Over the past few years, industrial ethernet has gained significant prominent in the manufacturing world. It helps ensure that the required manufacturing data is not only transmitted and received correctly, but also transmitted and received on time when it is required to perform specific operations.
On the basis of components, the global industrial ethernet industry is classified into hardware, software, and services. The hardware segment is expected to witness notable growth in the near future. It includes switches, connectors, controllers & processors, communication interface, hubs, routers, and gateways.
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The adoption of communication interface platforms among manufacturing industries is expected to grow at a CAGR of about 20% through 2026. These platforms are experiencing a significant demand owing to their ability to support various network topologies and applications including sensors, transmitters, gateways, operator terminals, and remote I/O solutions.
The service segment mainly includes maintenance services, and installation & testing services. The demand for maintenance services in the industrial ethernet market is estimated to rise at a robust 25% CAGR up to 2026. This demand will be primarily driven by the proliferation and widespread adoption of predictive maintenance solutions across the manufacturing sector.
Ethernet TCP/IP, PROFINET, Gigabit, Powerlink, Modbus TCP/IP, EtherCAT, HSE, and Sercos III, are among the different types of industrial ethernet protocols. The EtherCAT protocol segment is projected to record a CAGR of 15% through 2026. It is widely preferred on account of its ability to support multiple device profiles as well as different safety protocols.
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EtherCAT, or ethernet for control automation technology, is an ethernet-based fieldbus protocol standardized in the IEC 61158 standard. It is suitable for both soft and hard real-time computing requirements in automation technology. The EtherCAT protocol is optimized for data processes and is directly transported withing the IEEE 802.3 ethernet standard.
Today, industrial ethernet is used in aerospace & defense, oil & gas, energy & power, automotive & transportation, electrical & electronics, and chemical applications. Energy and power applications accounted for more than 15% revenue share of the global industrial ethernet industry 2019 and the segment will witness notable growth over the next few years.
The Latin America, Middle East, and Africa (LAMEA) region captured more than 8% revenue share of the global industrial ethernet market in 2019 and is expected to grow substantially in the forthcoming years. The regional trends can be associated with the growing levels of automation in the oil & gas sector.