LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global industrial ethernet/IP market to grow at a CAGR of almost 17% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global industrial ethernet/IP market for 2017-2021. The market 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. This protocol was introduced in the year of 2001, and in fifteen years it has observed a rapid growth over any other industrial communication protocol. 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.
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Technavio industrial automation research analysts highlight the following three factors that are contributing to the 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
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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.
Bharath Kaniappan, a lead automation research analyst at Technavio, says, “The process industries are updating their communication networks to handle remote I/O communications and exchange at a much faster speed between office databases and factory floor. At present, the flow of raw materials, pressure instrumentation, flow meters, controllers, and SCADA in the process industries are monitored and controlled by network protocols.”
Endures 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.
“In the producer-consumer services, Ethernet protocol supports multiple communication hierarchies and prioritization of messages. These services improve the efficiency of the use of bandwidth and outperform networks. With the infrastructure of Ethernet/IP network, the communication networks can accommodate an unlimited number of devices,” adds Bharath.
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.
Most manufacturers find Ethernet/IP more advantageous to be connected with automation as it offers a greater bandwidth and is continuously upgraded with technological advancements. The major reason for the preference for Ethernet/IP in IIoT automation is that the latter is highly compatible and has the capability to incorporate CIP (Common Industrial Protocol).
Top vendors:
- Beckhoff
- HMS
- Moxa
- Rockwell Automation
- RTA
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