[FURL=https://www.industryarc.com/Report/19413/ethernet-profinet-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Ethernet Profinet Market[/FURL] Ethernet Profinet Market size was valued at $6.6 billion in 2020 and it is estimated to grow at a CAGR of 5.1% during 2021-2026 owing to the increasing demand for industrial automation and growing digitalization across industries. Apart from this,Ethernet Profinet offer features such as real time data exchange, reliable and sustainable communication, simple integration and easy migration process that provide an upper edge other Ethernet solution.Key Takeaways
Oil & Gas is the largest market in 2020 but is estimated to witness slow of growth during the forecast period 2021-2026 despite the increasing demand for sustainable communication and digital monitoring systems.
Europe dominated the market with the highest market share in 2020 and is estimated to have competitive growth rate during this period owing to the early adoption of this technology.
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Ethernet Profinet Market Segment Analysis - by Geography
Europe dominated the Ethernet Profinet Market in 2020 with a share close to 36.5%, followed by North America and APAC. Moreover, it is estimated that APAC will have significant amount of market growth during the forecast period 2021-2026 owing to technological advancement and early adoption of this technology. Developed by Siemens AG and members of PROFIBUS user organization, Ethernet Profinet has a well-established customer based in Europe. European companies, Siemens AG and General Electric are one of the largest manufacturers of this product in the world. Generally Siemens devices are equipped with Profinet and this company dominates the European market.
Apart from that, continuous development, new advanced product launches of the technology also plays a major role towards the market growth. In February 2020, SICK, Europe based company, had launched a sensor integrated Profinet gateway; this is the first product which can act as both IO-Link Masters and control system in one.
Ethernet Profinet Market Drivers
Real Time Performance:
Fieldbus Integration:
Ethernet Profinet Market Landscape
The market for Ethernet Profinet is consolidated with the top players including Siemens AG, Cisco Systems, Inc., HMS Networks AB, ABB Corporation, Schneider Electric, General Electric, SICK AG, Belden, Inc., Moxa Technologies, ProSoft Technology, Inc. and others.
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