North America Industrial Ethernet Market By Offering (Hardware, Software and Services), By Protocol (EtherNet/IP, EtherCAT, PROFINET, POWERLINK and Others), By Industry (Automotive & Transportation, Electrical & Electronics, Pharmaceutical & Medical Devices, Aerospace & Defense, Energy & Power, Oil & Gas, Food & Beverages and Others), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
The North America Industrial Ethernet Market would witness market growth of 7% CAGR during the forecast period (2021-2027).
There is a wide application of industrial Ethernet in different devices like integrating controller, monitoring sensors, AC drives, among other essential components of industrial processes like treatment of water. This would boost the growth of the market for factory automation devices, consisting of integrated connectivity for the Ethernet. The routing’s capacity can be fuelled with the help of routers specifically made for use on the factory floor by the layer-3 switches. With the booming industrial Ethernet solutions market, the market for related products like varied switches, wireless access points, gateways & connectors, routers, and among others, would also witness a boost in the next few years.
Though, industrial Ethernet manages a high amount of data traffic as compared to Fieldbus. Along with the data from devices, industrial Ethernet also manages data from various other sources such as diagnostics protocols and network management. Thus, the performance of industrial Ethernet is affected while handling a huge amount of real-time data. Moreover, one of the major limitations for the industrial Ethernet market is substituting the current infrastructure with the latest and advanced infrastructure.
The growth of the industrial Ethernet market would be boosted by many factors including the increasing requirement for scalable, rapid, reliable, and interoperable communication protocols, growing initiatives by governments of emerging countries with an aim to promote the adoption of industrial automation, and the increasing prominence of smart automobiles. Moreover, the leading players operating in the market would witness various growth avenues with the increasing adoption of 5G.
The US market dominated the North America Electrical & Electronics Industrial Ethernet Market by Country 2020, thereby, achieving a market value of $530.7 million by 2027. The Canada market is experiencing a CAGR of 8.3% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 7.3% during (2021 - 2027).
Based on Offering, the market is segmented into Hardware, Software and Services. Based on Protocol, the market is segmented into EtherNet/IP, EtherCAT, PROFINET, POWERLINK and Others. Based on Industry, the market is segmented into Automotive & Transportation, Electrical & Electronics, Pharmaceutical & Medical Devices, Aerospace & Defense, Energy & Power, Oil & Gas, Food & Beverages and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Rockwell Automation, Inc., Cisco Systems, Inc., Omron Corporation, Sick AG, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Schneider Electric SE, IFM Electronics GmbH, ABB Group, and Belden, Inc.
Scope of the Study
Market Segments covered in the Report:
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