The industrial networking solutions market is growing rapidly. The market growth attributes to the penetration of the ethernet, Internet, and smart connected devices. Besides, rising advances in a wide range of network components such as controllers, network devices, and computers drive market growth. Equipment connected to the Internet is going through tremendous transformations, including data transfer, analysis, and generating insights.
These transformations escalate market growth, creating tremendous market demand. According to Market Research Future (MRFR), the global industrial networking solutions market is estimated to reach USD 24.82 BN by 2023. In its recent industrial networking solutions research report, MRFR also asserts that the market would register around 19.2% CAGR throughout the assessment period (2018 – 2023). Nowadays, industrial networks are transforming themselves into a smart and converged networking system to provide a robust and efficient communication system.
Additionally, the rising usage of the Internet in the rapidly growing numbers of enterprises worldwide boosts the growth of the market. Also, the increasing demand for SDWAN solutions acts as a significant tailwind for the growth of the industrial networking solutions market. On the other hand, concerns regarding data theft, malware attacks, and ransomware are the major factors expected to impede market growth. Nevertheless, the rise in the adoption of IIoT solutions for industrial work processes pushes market growth.
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Industrial Networking Solutions Market – Segmentation
The report is segmented into five dynamics;
By Component: Hardware (ethernet switches, routers & gateways, network security devices, cables, others) and Services (network access services, network infrastructure design services, implementation services, network performance validation services, network management & monitoring services, others).
By Technology: Software-Defined Wide Area Network (SDWAN), Wireless Local Area Network (WLAN), and Industrial Internet of Things (IIoT), and others.
By Deployment: On-Cloud and On-Premise.
By Industry Vertical: Semiconductor, Automotive & Transportation, and Energy & Utilities, among others.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Industrial Networking Solutions Market – Regional Analysis
North America dominates the global industrial networking solutions market. The largest market share attributes to the technical advances and the proliferation of the Internet and the cloud platforms. Besides, rising numbers of enterprises and increased adoption of smart connected devices substantiate the market demand. The US and Canada, backed by the rising industrialization, propel the growth in the regional market. The North American industrial networking solutions market is expected to retain its dominance throughout the forecast period.
Europe stands second in the global industrial networking solutions market. The market is driven by growing industries in Germany, the UK, France, and Italy. Moreover, the increasing adoption of connected devices and rising industrialization in the region foster market growth. The European industrial networking solutions market is projected to create a substantial revenue pocket over the estimated period.
The industrial networking solutions market in the Asia Pacific region is emerging as a promising market globally. Factors such as the increased demand for SDWAN solutions by businesses operating in various countries impacts the market growth positively drive the regional market growth. Moreover, faster implementation of advanced technologies in rising numbers of businesses pushes the growth of the regional market. Rapidly developing countries, including China, Japan, and India, substantiate growth opportunities to the players operating in the industrial networking solutions industry.
Industrial Networking Solutions Market – Competitive Analysis
Highly competitive, the industrial networking solutions market appears to be well-established due to the presence of several noteworthy players. These players incorporate strategic initiatives such as collaboration, acquisition, product launch, and expansion to gain a competitive advantage. Industry players emphasize on innovation and development of new processes, fuelling the already intensified market competition. The market demonstrates a high growth prospect that attracts several new entrants to the market.
Players leading the industrial networking solutions market include Cisco Systems Inc. (US), Siemens AG (Germany), Juniper Networks (US), Moxa Inc. (US), Dell Inc. (US), ABB (Switzerland), Huawei Technologies Co. Ltd (China), Eaton (Ireland), Hewlett Packard Enterprise Development LP (US), Sierra Wireless (Canada), Belden Inc. (US), Neteon Technologies Inc. (US), ITM Communications Ltd (UK), Yokogawa Electric Corporation (Japan), MicroSystems (India), Analog Devices Inc. (US), Extreme Networks (US), Black Box Network Services (US), CSG Networks Private Limited (India)and Rockwell Automation Inc. (US), among others.
Industry/ Innovation/ Related News
July 21, 2020 —– Nokia (Finland) launched new 5G SA industrial-grade private wireless networking solutions globally. These new networking solutions would provide a roadmap to fulfilling the needs of the most demanding industrial and manufacturing use cases. With the introduction of the first commercial 5G standalone (SA), private wireless networking solutions for its customers to provide the most comprehensive end-to-end portfolio of high-performance 4.9G/LTE and 5G private wireless networking solutions marketplace.
Private wireless connectivity is central, which helps customers to realize their long-term digital transformation goals. By delivering 5G SA, Nokia is paving the way to accelerate digitalization in the most demanding of use cases, including automotive manufacturing, where cloud, robotics, and autonomous machine operations create demands of reliable low latency and high data rate.
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