The value of the global industrial ethernet market is set to grow from its current state of more than $25 billion to over $70 billion by 2025 according to a new research report by Global Market Insights, Inc.
Some highlights of the report include:
- Increased adoption of the IIoT among the manufacturing and automotive sectors is driving much of this growth.
- Supportive government initiatives and hefty investments to convert traditional electrical grids into smart grids are also having an impact. The U.S. Department of Energy, for example, invested $8 billion in smart grid technology between 2010 and 2015, with these investments expected to reach $110 billion over the next decade.
- Large-scale adoption of related products, such as switches, gateways, connectors, processors, and controllers is expected to boost the market.
- Big data analytics, coupled with a growing demand for cloud-based solutions across other sectors, are escalating the need for data centers, resulting in the industrial ethernet market growth.
- Between 2019 and 2025, the market is expected to generate a compounded annual growth rate of over 20%.
- This growth will positively impact network infrastructure, which means growth will also be realized in affiliated software solutions.
- Gigabit protocol is projected to increase in adoption for facilitating connections between devices that can include sensors, robots, PLCs, and other industrial machines. The Gigabit Ethernet predominantly employs optical fiber connection for the transmission of information over long distances at high speeds. The technology is mostly deployed to increase the data transfer rate between server and client farms and to connect with fast Ethernet switches.
