Industrial Networking Solutions Industry Segmentation, Market Players, Trends 2023
Industrial Networking Solutions Industry, By Component (Hardware, Service), Technology (SDWAN, WLAN, IIoT), Deployment (Cloud, On-Premise), Industry Vertical (Semiconductor, Automotive & Transportation, Energy & Utilities) — Forecast till 2023
Market Highlights
Industrial networking solutions is a necessity for enterprises across various industry verticals to create an end-to-end robust network architecture. The widely used technology for this robust, secured, and scalable network is the use of industrial Internet of Things (IIoT). IIoT is used to establish a connection between different business processes/systems using automation. The major benefit of adopting industrial networking solutions is improved return on investment, increased efficiency in the manufacturing process, and digital transformation. However, concerns regarding data theft, malware attacks, and ransomware are still restraining the growth of Industrial Networking Solutions Industry.
The Industrial Networking Solutions Industry is estimated to reach USD 24.82 billion by the end of forecast period with a CAGR of 19.2%.
Segmentation
By component, the market is segmented into hardware and service. Hardware component is segmented into Ethernet switches, routers & gateways, network security devices, cables, and others. The service segment is further segmented into network access services, network infrastructure design services, implementation services, network performance validation services, and network management & monitoring services.
By technology, the market is segmented into software-defined wide area network (SDWAN), wireless local area network (WLAN), and industrial Internet of Things (IIoT).
By deployment, the market is segmented into on-cloud and on-premise.
By industry vertical, the market is segmented into semiconductor, automotive & transportation, energy & utilities, chemicals & petrochemicals, healthcare, and others.
Key players
The key players in the Industrial Networking Solutions Industry are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – Siemens AG (Germany), Cisco Systems Inc. (US), Juniper Networks (US), Dell Inc. (US), Moxa Inc. (US), ABB (Switzerland), Eaton (Ireland), Huawei Technologies Co. Ltd (China), Rockwell Automation Inc. (US), and Hewlett Packard Enterprise Development LP (US). These players contribute a major proportion towards market growth.
Apart from the top key players, there are other players that contribute nearly 30-35 % in the Industrial Networking Solutions Industry. These include 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), and CSG Networks Private Limited (India).
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Regional analysis
The global market for industrial networking solutions is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of Industrial Networking Solutions Industry is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
North America is expected to dominate the Industrial Networking Solutions Industry during the forecast period. The US is expected to dominate the North American region owing to increased demand for SDWAN solutions by businesses operating in various countries of North America.
Asia-Pacific is expected to be the fastest growing region in the Industrial Networking Solutions Industry due to rise in wireless technology in industrial operations. Countries like China and Taiwan are technically enhancing and have adopted IIoT solutions for their industrial sector. Hence, businesses in these countries have a major contribution in the growth of Asia-Pacific region.
Intended Audience
- Network solution providers
- Industrial networking solution providers
- Network operators
- Research organizations, universities, and consulting companies
- Network testing service providers
- Application design and software developers
- Consultancy firms and advisory firms
- Technology consultants
- Government
- OEM
- Network solution distributors
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