DUBLIN--(BUSINESS WIRE)--The "North America Industrial Ethernet Cable Industry Outlook - Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The North America Industrial Ethernet Cable Market size is $264 million in 2018 and expected to grow at a CAGR of 11.64% during the forecast period 2020-2025.
Key Takeaways
- U.S. dominates the North America Industrial Ethernet Cable market owing to the presence of more number of players and increasing investments on industrial infrastructure.
- The benefits associated with industrial Ethernet cables are high data transfer speed, increased reliability and lower chances of interface, low-security threats, and easy installation have been driving the demand for industrial Ethernet cables over wireless or Bluetooth connectivity.
- High adoption of advanced technologies such as automation and Internet of Things (IoT) in North American industries is set to boost the demand of the industrial Ethernet cables, thereby driving the market growth.
- Aerospace and Defense sector has dominated the application segment of Ethernet cables owing to the high need of security and internet connection.
Protocol - Segment Analysis
Ethernet/IP holds the major share in North America Industrial Ethernet Cable market. With increasing automation technology and process control in industries, there has been wide adoption of Ethernet/IP protocol for cables. The industrial Ethernet protocols are designed with this protocol in order to withstand against vibration, oil, dust, heat, electromagnetic noise and other industrial conditions.
This protocol allows for maximum flexibility for future system expansion, including the ability to add digital input/output (I/O) or remote sensors at any time. It can also perform control and configuration management and exchange data which results in cut down of the amount of wiring required for a system, thereby reducing wiring costs, and saves time and money. This set to drive the market growth.
Application - Segment Analysis
Aerospace and Defense has been the primary application for North America Industrial Ethernet Cable market and is expected to grow at a CAGR of 12.35% during forecast period 2020-2025.
There has been growing adoption of Ethernet cables in North America aerospace and defense industry owing to significant increasing investments on this sector. For instance, according to Stockholm international peace research institute (SIPRI), the military expenditure has been increased from $631 billion to $670 billion in North America. Additionally, there has been an increasing number of aircrafts and unmanned aerial vehicles which further provide opportunities for industrial Ethernet cables in North America region.
Geography - Segment Analysis
U.S. dominated the North America Industrial Ethernet Cable market with a share of 75.28%, followed by Canada and Mexico. Early adoption of advanced technologies and high investment in industrial infrastructure set to drive the industrial Ethernet cables industry in the U.S. region.
Need for faster internet connectivity, secure and reliable transmission medium in industries and dependence of large amounts of industrial and broadcasting applications on advanced technology have also been fueling the market growth. Growing demand for fiber-optic Ethernet cable applications and a significant increase in the number of internet users across various applications is anticipated to boost the growth of the market.
Drivers
Advancements in Technology
There has increasing adoption of automation or process control technologies in various industries such as automotive, aerospace, food and beverage, oil and gas and other industries in North American countries majorly in the U.S. Automation reduces the degree of manual operation required, thereby increasing the throughput rates as well as ensuring minimum human intervention. Growing importance on automating several manufacturing processes is likely to augment the demand for industrial Ethernet cables in North America.
High reliability and low-security threats
Ethernet cables are extensively used in various industries and broadcast applications, where the reliability of the connection is a serious concern. As compared to other cable networking techniques, Ethernet cables are very reliable in industries which has been fueling the market growth.
Challenges - North America Industrial Ethernet Cable Market
Increasing application of wireless networks
As North America is the fastest region in early adoption of advanced technologies, there has been increasing adoption of wireless networks which set to hamper the growth of North America industrial Ethernet cable industry. For instance, Cat 5 industrial Ethernet cables are prone to electrical and radio interference. This cable is also not suitable for transferring data over short distances which cause a big problem in the network connection and this hampers the growth of the market.
Market Landscape
Acquisitions and R&D activities are the key strategies adopted by players in the North America Industrial Ethernet Cable market. The market of North America Industrial Ethernet Cable top 10 companies are Belden Inc, General Cable Technologies Corporation, Siemon, Schneider Electric, Anixter Inc, Siemens, Hitachi, Ltd, Rockwell Automation, Inc, Prysmian Group, and among others.
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