Pune, November 29, 2016 /PRNewswire/ – According to the new market research report "Industrial Ethernet Market by Offering (Hardware, Software, and Services), Protocol (EtherNet/IP, PROFINET, Modbus TCP, POWERLINK, CC-Link IE, EtherCAT, and Sercos III), End-User Industry, and Geography – Global Forecast to 2022", published by MarketsandMarkets, the market is expected to grow at a CAGR of 16.8% between 2016 and 2022, from USD 19.43 bn in 2015 to USD 59.20 bn by 2022.

The industrial Ethernet market has a huge potential across electronics and automotive applications. The major factor driving the industrial Ethernet market across the world is the rising demand for industrial automation and growing adoption of Industrial Revolution 4.0.

The market for the water and wastewater industry is expected to grow at the highest rate between 2016 and 2022

The market for the water and wastewater industry is expected to grow at the highest rate between 2016 and 2022. Water level monitoring sensors, AC drives, and controllers are crucial components of a water treatment system and industrial Ethernet is used to integrate and communicate between these devices. All these factors are expected to boost the growth of industrial Ethernet in the water and wastewater industry during the forecast period.

The market for PROFINET protocol is expected to grow at the highest rate between 2016 and 2022

The market for PROFINET protocol is expected to grow at the highest rate. PROFINET is an industry standard referred for industrial Ethernet. PROFINET is designed for collecting and transferring data under tight time constraints. PROFINET also offers a real-time solution and an isochronous real-time (IRT) system. PROFINET is the most popular automation network currently available. It assists automotive manufacturers in their production operations by sending and transmitting data quickly through manufacturing devices. With this technology, TCP/IP layers are bypassed, which allows the system to be more deterministic, sending the data at a speed between 1ms and 10ms.

The companies that are profiled in this report are Siemens AG (Germany), ABB Ltd (Switzerland), Rockwell Automation (US), Schneider Electric (France), Beckhoff Automation (Germany), Moxa Inc (Taiwan), Cisco Systems Inc (US), B&R Automation (Austria), Belden Inc (US), and Innovasic Inc (US).