About Industrial PROFINET
Industrial Ethernet refers to the use of Ethernet in industries along with protocols that provide determinism and control in real-time. PROFINET is based on industrial ethernet. It connects process devices like sensors, actuators, and similarly control systems. PROFINET is designed for delivering data under tight time constraints. PROFINET standard is maintained and supported by PROFIBUS & PROFINET organization based in Germany. It complies with ethernet standards IEEE 802 in IEC 61158 and IEC 61784. The OIS model has seven layers for connecting two points in the network, but the ethernet standard reduces that to four layers and sometimes not even all four, thereby decreasing the time required.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.9% |
With the increase in manufacturing activity, there is a rise in demand for PROFINET. Market leaders in this technology can work with PRIFINET and PROFIBUS for their solutions. Although the industry is fragmented, few market leaders are leading in terms of innovation, and R&D. Players in this market are offering different solutions and creating their niche market. With increased demand providers can cut down margins to provide better cost-effectiveness. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Industrial PROFINET market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Siemens (Germany), Molex (United States), Comtrol Corp. (United States), Hilscher Solutions (United States), HMS Industrial Networks (Sweden), Phoenix Contact (Germany), Analog Devices (United States), Precision Systems Inc. (United States), Real Time Automation (United States) and Softing (Germany) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Industrial PROFINET market by , Application (Controlling Equipment and Monitoring Equipment) and Region.
On the basis of geography, the market of Industrial PROFINET has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. Manufacturing Industry will boost the Industrial PROFINET market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device, the sub-segment i.e. Programmable Logic Controller will boost the Industrial PROFINET market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Modes of Operation, the sub-segment i.e. Generic will boost the Industrial PROFINET market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. I/O Module will boost the Industrial PROFINET market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Use of PROFINET Compatible Devices and Device Profiles to Ensure Device Compatibility
Market Growth Drivers:
Increased Automation in Manufacturing Plants and Growing Demand of PROFINET To Integrate Existing Systems and Equipment
Challenges:
Very Complex Specifications Involved in Industrial PROFINET and PROFINET Devices Are Generally Expensive
Restraints:
Availability of Substitutes of Industrial PROFINET
Opportunities:
Increasing Manufacturing Activity in Developing Nations will Boost the Industrial PROFINET Market
Market Leaders and their expansionary development strategies
In September 2020, Bosch and Siemens acquire Siemens' 50 percent stake in the joint venture BSH Bosch und Siemens Hausgeräte GmbH (BSH). The transaction has been approved by the Board of Management and Supervisory Board of Bosch and the Managing Board and Supervisory Board of Siemens. The purchase price will total €3 billion. In addition, Siemens and Bosch will each receive from BSH an additional distribution of €250 million before the transaction is completed.
In December 2022, Advantech’s IIoT Automation Group is pleased to announce the launch of the EKI-5500/5600 PN/PNMA and EI series of industrial switches. Having switches which can communicate directly across a diverse range of machine automation devices is essential. These latest Advantech industrial managed switches have been designed to communicate through PROFINET or Ethernet/IP.
The Standard of PROFINET is maintained by PROFIBUS and PROFINET International, an organization based in Germany. PI, creates and maintains regulations and standards for PROFINET. PI also issues guidelines and certifies new PROFINET devices and modifications.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Industrial PROFINET Providers, Raw Material Suppliers, Government Regulatory and Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.