Global Industrial Ethernet Market Report 2024-2028: Rise of Smart Grid Projects and Replacement of Fieldbus with Industrial Ethernet Drives Market Growth [Yahoo! Finance]
ABB Ltd (ABB)
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Source: Yahoo! Finance
The global industrial ethernet market is projected to witness substantial growth over the next five years, driven by an array of technological advancements and industry demands. A key contributor to this growth is the ongoing rise of smart grid projects, which rely heavily on industrial ethernet solutions. Additionally, the increasing trend of replacing traditional fieldbus systems with industrial ethernet is expected to further bolster the market expansion. The integration of the Industrial Internet of Things (IIoT) into manufacturing and industrial processes has also been identified as a fundamental driving force behind this upwards trajectory. Segmentation Insights The comprehensive market segmentation provides valuable insights into the diverse components and technologies that comprise the industrial ethernet market. The segments include hardware, software, and services, that cater to the needs of various technological standards such as Ethernet/IP, PROFINET, EtherCAT, Modb
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