The global industrial networking solutions market is witnessing a continual rise. The rapid penetration of the Ethernet, Internet, and smart connected devices drives the market growth. Moreover, rising advances in various networking components and technologies create significant market opportunities. Today's industrial networks are transformed into a smart and converged networking system, providing a robust communication system.
Network components such as controllers, network devices, and computing devices are going through tremendous transformations, providing data transfer, analysis, and insights. According to Market Research Future (MRFR), the global industrial networking solutions market is estimated to reach exponential value by 2027, growing at an impressive CAGR throughout the assessment period (2020 – 2027).
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.
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Additionally, rising usages of the Internet and connectivity technologies worldwide boosts the growth of the market. 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 the market growth. Nevertheless, the rise in IIoT adoption for industrial work processes would support the market growth throughout the review period.
Industrial Networking Solutions Market - Geographical 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 industrial networking solutions industry.
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 regional market's growth.
Global Industrial Networking Solutions Market - Segments
The report is segmented into components, technology, deployment, industry vertical, and regions. The component segment is sub-segmented into hardware and services. The sub-segment hardware is bifurcated into Ethernet switches, routers gateways, network security devices, cables, and others.
The sub-segment service is bifurcated into network access services, network infrastructure design services, implementation services, network performance validation services, network management monitoring services, and others. The technology segment is sub-segmented into software-defined wide area networks (SDWAN), wireless local area networks (WLAN), and industrial Internet of things (IIoT), and others.
The deployment segment is sub-segmented into on-cloud and on-premise. The industry vertical segment is sub-segmented into semiconductor, automotive transportation, energy utilities, and others. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.
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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/ Innovation/ Related News
April 19, 2021 ---- Cambium Networks (CMBM, the US), a leading global provider of wireless networking solutions, announced a partner program focused on healthcare solutions with an ecosystem. The new ConnectedPartner vertical market program specializes in senior living, assisted care, and healthcare clinics facilities, with over 50 value-added resellers (VARs) and System Integrators.
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