In a recent report, Technavio analysts forecast global industrial ethernet/IP market to grow at a CAGR of almost 17% from 2017 to 2021. The research study covers the present scenario and growth prospects of the market, which is segmented on solution (hardware and software and services), coverage (factory automation and supervisory control), end-user (discrete industries and process industries), and geography (the Americas, EMEA, and APAC).
Ethernet/IP is preferred over any other protocol used for Ethernet communication due to its capability of transferring data at higher speed compared with other protocols. It offers specific networking tools to create the communication network among all devices in the industry. The market is expected to witness the entry of new vendors. Vendors tend to follow the standard specifications to make easy installations in the industrial premises because this communication technology needs a high degree of expertise during the forecast period.
The analysts highlight three factors contributing to growth of the global industrial ethernet/IP market:
- Increased penetration of Ethernet networks in process industries
- Endures flexibility and high-speed performance
- Implementation of IIoT
• Rockwell Automation
Flexibility And High-Speed Performance
The high adoption rate of Ethernet is driving the global industrial Ethernet/IP market owing to its benefits of more flexibility and high-speed performance. It is mainly designed for interoperability among different industrial applications and layers. Ethernet/IP has the capability of linking seven different layers, such as data link, physical, network, session, transport, presentation, and application, during operations in an industry.
Implementation of IIoT
Every industry is renovating its infrastructure by implementing Internet of Thing (IIoT). IIoT is a network of devices, such as machines, sensors, controllers, big data analytics, and cloud computing. Such a connection can link analytics with the operations of industrial automation, which could ultimately improve the application designs of the industry.
Increased penetration of Ethernet networks in process industries
The use of Ethernet/IP was low during the base year. However, it is expected to rise during the forecast period owing to its capacity to transfer data at high-speed. The complex devices with sensors and controllers installed in the factory floor are proving to be suitable for Ethernet/IP.
For more information on this market, request a free sample report.