Industrial Ethernet Market Size, Share, Growth Analysis, By Components(Hardware (switches, connectors, controllers, routers)), By Protocol(Ethernet/IP, ProfNet, Ether CAT, Modbus TCP), By Industry Vertical(Manufacturing, Energy and Utilities, Transportation, Oil and Gas), By End-User(Discrete Industries, Process Industries), By Region - Industry Forecast 2024-2031

Global Industrial Ethernet Market size was valued at USD 7.3 billion in 2021 and is projected to grow from USD 10.66 billion in 2022 to USD 112.3 billion by 2030, exhibiting a CAGR of 34.22% during the forecast period (2023-2030).

The global aviation industry has witnessed a significant transformation over the years, with advancements in technology and the increasing availability of data. The growing trend of industrial automation, as well as fast improvements in networking technology, are important drivers driving market revenue growth. Significant investments in enhancing cost-effectiveness and a greater emphasis on data collecting and analysis are other important elements driving market revenue growth. Industrial Ethernet networks enable the collection of enormous amounts of data from a variety of sensors and devices, which may subsequently be analyzed to improve operational efficiency and decision-making. Industrial Ethernet networks are becoming more cost-effective, making them a more appealing alternative for industrial applications than older fieldbus systems.

High initial setup costs, implementation hurdles, and interoperability issues are important factors limiting total industry revenue development. Industrial Ethernet networks need a considerable initial investment in infrastructure and equipment, which can be costly. Industrial Ethernet has several advantages over other types of industrial networks, including increased data speed of up to 1 Gbit/s with Gigabit Ethernet, the ability to use standard networking hardware for wired and wireless communication, improved interoperability, and the option to use optical fiber for increased distance, among other benefits. Industrial Ethernet may also refer to the use of conventional Ethernet protocols in an industrial setting, such as long-lasting connections and thermal switches, for automated processes or control systems. Using fiber-optic Ethernet options reduces electrical noise problems and provides electrical isolation.