Global Industrial PROFINET Market Overview:
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. Some of the players profiled in the study are 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).
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.
Market Growth Drivers
- Increased Automation in Manufacturing Plants
- Growing Demand of PROFINET To Integrate Existing Systems and Equipment
- Growing Use of PROFINET Compatible Devices
- Device Profiles to Ensure Device Compatibility
- Availability of Substitutes of Industrial PROFINET
- Increasing Manufacturing Activity in Developing Nations will Boost the Industrial PROFINET Market
- Very Complex Specifications Involved in Industrial PROFINET
- PROFINET Devices Are Generally Expensive
Key Market Developments:
In February 2021, Kubler presented its new generation of Ethernet Encoders, which differ typically and mechanically from their existing line-up. The new Sendix F58 encoders meet various performance standards due to PROFINET IO, RT, and IRT and thus are easy to integrate. Sendix F58 encoders are up to four times faster than old generation industrial ethernet encoders.
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.
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.
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
Major Objectives Focused through this Study
To define, describe, and forecast the Global Industrial PROFINET market on the basis of product  , application [Controlling Equipment and Monitoring Equipment], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Industrial PROFINET market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Industrial PROFINET industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Industrial PROFINET market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. 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, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.