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Research analysis on the global industrial PROFINET market identifies benefits such as secure communication in industrial networks as one of the major factors that will have a positive impact on the market's growth. Communication through PROFINET is through the Internet and it provides universal communication with all the safety aspects. It prevents unauthorized access, uses certified devices and specifications, and protects end devices by uninstalling unnecessary applications and disabling default passwords. PROFIsafe enables single network functioning and also allows users to access data even from remote locations. Additionally, it also eliminates all possibilities of errors by and provides real-time communications. Technavio's market research analysts predict that this market will grow at a CAGR of more than 17% by 2021.
With the presence of leading players such as Siemens and ABB, EMEA will account for the major shares of the industrial PROFINET market throughout the predicted period. The rising demand for intelligent communication in industrial processes, and growing investments in both the discrete and process industries and the implementation of robotics, will fuel the market's growth in this region. The automotive manufacturers in the region such as Mercedes, Volkswagen, Audi, Porsche, and BMW increasingly demand PROFINET-based products from their suppliers to enhance energy and operational efficiencies.
The market pears to be concentrated with the presence of few vendors. Since this technology requires a high degree of expertise, the vendors are focusing on maintaining the standard specifications which will ease installations in industries. To retain their market shares, the players in the industrial PROFINET market are concentrating on the expansion of their services and are also offering personalized devices based on the requirements of the end-users.
The leading vendors in the market are -
The other prominent vendors in the market are ABB, B&R Automation (A member of ABB Group from July' 2017), Beckhoff Automation, Innovasic, ProSoft Technology, and Schneider Electric.
During 2016, the hardware and software solution segment accounted for the major shares of this market. The hardware solution reduces the cost of communication and enables faster access to the I/O data whereas the software solution creates a link between the controller device and supervisor device. The easy access to historical data which enables predictive maintenance planning will be one of the major factors fueling the growth of the industrial PROFINET market in this segment.
The factory automation segment will contribute to the major shares of the industrial PROFINET market throughout the next four years and this will mainly attribute to the rising demand for artificial intelligence. Factors such as the increase in connectivity between machines and devices and the need for data acquisition, fuel the demand for PROFINET in factory automation.
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Our market research methodology for the global industrial PROFINET market
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by solution
PART 07: Market segmentation by coverage
PART 08: Market segmentation by end-user
PART 09: Geographical segmentation
PART 10: Decision framework
PART 11: Drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
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