Ethernet Profinet Market Size Estimated to Grow at a CAGR of 5.1% During 2021–2026
Real Time Performance and Fieldbus Integration is Driving the Growth of Ethernet Profinet Market
Hyderabad, India – July 7, 2021 /MarketersMedia/ —
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.
This solution can also provide same level of services in dangerous environmental situation without affecting the operation efficiency or speed and it also supports motion control applications as well as robotics applications, which are contributing towards the increasing demand for Profinet in industrial applications.
Ethernet Profinet Market Segment Analysis- by Application
By application, Ethernet profinet market is segmented into Discrete Automation, process automation, safety systems and others. Process automation held the major share of around 45.1% of Ethernet Profinet Market in 2020 and estimated to witness significant amount of growth during the forecast period 2021-2026 owing to the increasing digitalization across industries.
Apart from that, increasing requirements for safety measures across industries and Government regulatory acts regarding process safety across industries is fuelling the adoption of PROFISafe. As per IndustryARC recent studies, more than 16.4 million Profinet nodes are current present, out of which approximately 7.2 million devices are PROFISafe devices which clearly shows the significance of this technology.
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Ethernet Profinet Market Segment Analysis- by End-User Industry
Ethernet Profinet Market is segmented into General Manufacturing, Food & Beverage, Pharmaceutical, Chemical, FMCG, Power, Cement, electronics & semiconductors, automotive, mining, pulp & paper, Water & waste water treatment, and others based on end-user industry. Electronics and Semiconductor is the fastest growing segment in Ethernet Profinet Market and estimated to grow at around CAGR 7.9% during forecast period 2021-2026 owning to the rapid adoption of digitalization, increasing demand for reliable and sustainable communication and remote monitoring system in this industry.
Profinet provides end-to-end communication to the whole process operation from upstream application to downstream applications. Apart from that, rising investment along with acquisitions and partnerships in this industry are fueling the market growth. In October 2020, it was announced that ONGC is all set to merge its refining subsidiary MRPL with HPCL by mid-2021. In August 2019, Reliance announced its plan to produce only jet fuel and petrochemical at Jamnagar by implementing an oil-to-chemical strategy to eliminate most fuel produced in favor of high value products.
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.
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. It needs only one cable to communicate simultaneously with the machine controller via fieldbus.
Ethernet Profinet Market Drivers
Real Time Performance:
Fieldbus Integration:
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Ethernet Profinet Market Challenges
Security issues:
In February 2020, OTORIO security researchers discovered a security weakness in PROFINET-IO stack which is responsible for handling packets used in device management. If a device is overloaded with multiple diagnostic packets it may create a security threat that allows the attackers to send the devices into a DoS condition that can create disruption in operational processes.
Ethernet Profinet Market Landscape
Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Ethernet Profinet market. As of 2020, 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.
Acquisitions/Technology Launches
In July 2020, Intesis Software SL had launched a new protocol translator for better communication between Profinet PLCs on building management systems and factory floors with BACnet IP/MSTP.
In March 2020, Harting Americas had launched Single Pair Ethernet (SPE) technology. Single Pair Ethernet communication protocols are available for Ethernet/IP, Profinet, EtherCat, etc.
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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https://www.industryarc.com/Report/18754/north-america-industrial-ethernet-cable-market.html
B. Industry 4.0 Market
https://www.industryarc.com/Report/18544/industry-4-market.html
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Organization: IndustryARC
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Source: MarketersMedia
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