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[161 Pages Report] Industrial Ethernet Market鈥?is expected to be valued at USD 59.20 Billion by 2022 Wayne Gretzky Canada Jersey , growing at a CAGR of 16.8% between 2016 and 2022.
The major driver for the growth of the market is the growing adoption of IIoT. In various manufacturing industries, the potential of IIoT to improve productivity in production processes and supply chain is immense. IIoT is expected to fundamentally change the way products are developed, manufactured, transported, and sold.
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Automotive, being one of the largest industries and one of the oldest applications of industrial Ethernet Tyler Seguin Canada Jersey , would continue to dominate the market with growing need for advanced automation in automobile manufacturing hubs around the world.
Among the protocols, the industrial ethernet market for PROFINET is expected to grow at the highest rate during the forecast period. The number of Ethernet protocols in industrial applications has increased considerably over the past few years as a result of improved network coverage, quality of transmission, and bandwidth capacity. PROFINET is widely used because it offers real-time operation and protection against harsh environment and also facilitates faster, safer, and comparatively low-cost data transfer compared with other industrial Ethernet protocols. Advancements in industrial Ethernet technologies are helping various companies to remotely monitor their assets from anywhere in the world.
The services segment is expected to witness huge growth opportunities in the industrial Ethernet market. With the growing complexity in industrial Ethernet networks Steven Stamkos Canada Jersey , there is a growing demand for consulting, integration, and support services for network management. The advancement of network and technological developments have forced customers and enterprises to demand for better and advanced network services.
APAC held the largest market share and is expected to grow at the highest rate. In APAC, the huge demand for consumer electronics and automobiles from countries such as China, India, Japan Sidney Crosby Canada Jersey , and South Korea is driving the industrial Ethernet market.
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The companies that are profiled in industrial ethernet report are Siemens AG (Germany), ABB Ltd. (Switzerland), Rockwell Automation (U.S.), Schneider Electric (France), Beckhoff Automation (Germany), MOXA Inc. (Taiwan) Shea Weber Canada Jersey , Cisco Systems, Inc. (U.S.), B&R Automation (Austria), Belden, Inc. (U.S.), and Innovasic Ryan Getzlaf Canada Jersey , Inc. (U.S.). These players adopted various strategies such as product developments, mergers, partnerships, collaborations, and business expansions to achieve growth in the industrial Ethernet market.
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