By 2032, the industrial Ethernet market will grow from its current market value of more than $50 billion to more than $350 billion. As Global Market Insights, Inc. Described in the latest research report.

Due to the emergence of 5G technology in various industries around the world, the industrial Ethernet market is expected to experience substantial growth through 2032. In addition, the growing demand for Industry 4.0 and automation in the manufacturing industry and rising awareness of economic industrial solutions are likely to drive the market growth during the forecast period.

The pandemic has created an exponential opportunity for the industrial Ethernet industry, as many companies witness a shift in work trends and adopt advanced automation solutions. Industrial Ethernet becomes an effective choice for the Industry 4.0 approach. For example, the food and beverage industry experienced connectivity lags during the pandemic due to food contamination issues. Later, the FDA approved guidelines related to the installation of industrial switches, encouraging many catering industry players to implement industrial Ethernet switches.

In addition, major players in the industry have been committed to rigorous research and development programs to expand their business scope, thereby contributing to the overall market vitality. For example, in July 2022, the Global Ethernet Alliance Ethernet Alliance in Taiwan approved the Ethernet Alliance’s UL solution for second generation Power over Ethernet certification testing, expanding new capabilities for manufacturers. This certification makes the product safer, more reliable and more sustainable.

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The industrial Ethernet market has been segmented based on components, protocols, applications, and regions.

By component, the industrial Ethernet market has been segmented into hardware, software, and services. The services segment is further segmented into integration test Services and maintenance services. The Industrial Ethernet Maintenance services segment is expected to grow at a compound annual growth rate of more than 30% between 2023 and 2032, as Ethernet services help companies reduce failures due to cable failures. In industrial Ethernet, there is a surge in the use of predictive maintenance, which helps to receive fault analysis through the Industry 4.0 network to replace failed cables.

In terms of protocols, the industrial Ethernet market is segmented into Ethernet TCP/IP, Gigabit, PROFINET, EtherCAT, Ethernet/IP, Modbus TCP/IP, Powerlink, Sercos III, and HSE. Due to the growing popularity of Ethernet TCP/IP protocols for managing connections between automation devices and technologies such as CNC, PLC, sensors, robots, and other industrial equipment, Ethernet TCP/IP will account for more than 40% of the market by 2022.

On the basis of application, the industrial Ethernet market is segmented into Aerospace & Defense, Oil & Gas, Electrical & Electronics, Energy & Power, Automotive & Transportation, Chemical, etc. Due to technological advances in electrical and electronic products, the electrical and electronic products segment will account for more than 20% of the market share in 2022. In addition, electronic products such as routers, firewalls, gateways, hubs, and switches support the implementation of industrial Ethernet, driving the growth of the segment.

In a regional context, the industrial Ethernet market in Latin America is expected to grow at a CAGR of more than 15% through 2032. Government initiatives to improve and expand power generation capacity and transmission infrastructure are contributing to the market growth in the Latin American region. In addition, the growing demand for the establishment of renewable energy power plants in the region is expected to encourage the installation of power cables over the next 10 years.