Market Highlights
An effort to build the global industrial networking solutions market 2020 has been one of the decisive actions led by Market Research Future (MRFR). It divulges a thorough study on the market, portraying the estimated valuation of USD 24.82 billion by the end of the estimated period while astounding at a CAGR of 19.2% in the forecast period (2018–2023).
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Segmentation
In the segmental analysis, the market has been studied based on elements such as component, technology, deployment, and industry verticals.
In terms of the component, the market is segmented among hardware and service. Wherein, the hardware component includes routers & gateways, Ethernet switches, network security devices, cables. Whereas, the service segment includes network infrastructure design services, network access services, implementation services, network management & monitoring services and network performance validation services.
Based on technology, the market is segmented among wireless local area network (WLAN), industrial Internet of Things (IIoT) and software-defined extensive area network (SDWAN)
Based on deployment, the market includes on-cloud and on-premise segments.
Based on industry vertical, the market includes automotive & transportation, semiconductor, energy & utilities, healthcare, chemicals & petrochemicals segments.
Market Key Players
The key players identified in the Industrial Networking Solutions Market listed as Cisco Systems Inc. (US), Siemens AG (Germany), Dell Inc. (US), Moxa Inc. (US), Juniper Networks (US), Eaton (Ireland), Huawei Technologies Co. Ltd (China), ABB (Switzerland), and Hewlett Packard Enterprise Development LP (US) and Rockwell Automation Inc. (US).
Market Drivers & Challenges
MRFR’s study discloses how hasty the market is escalating, in an effort to persuade the functions and abilities across the globe. The factors attributing to the industrial networking solutions market’s expansion are concerned with the changing dynamics of the automation industry. The industry has observed a trend towards industrial automation that has brought into concern with noteworthy changes in the way machines, manufacturing processes, and supply chains function in an industrial facility. Thus, the ability to generate incredible transformations which includes data transfer, analysis, and generating insights through the internet has been one of the significant factors substantially leading the market.
In the industrial networking solutions industry, there is a constant need for maintenance of network connectivity and securing the network from malware and cyber-attacks, which leads to industrial automation to a great extent. At the same time, industrial networking, in the current time, is transforming itself into a smart networking system to offer a robust and efficient communication system, which is yet another factor leading the market to achieve more valuations in the foreseeable years.
Furthermore, the industrial network’s one major component, ‘Ethernet,’ is becoming popular for connecting a wide range of network components such as network devices, controllers and computers. In the latest, Ethernet is used in industrial sectors of automotive, oil & gas, healthcare, where it is likely to be replaced by fiber optics. This is due to the latter’s connectivity features which include faster data transmission, condensed latency, and high throughput. All these factors are equally assisting the market in leading with a substantial rate of growth in the forecast period. Not the least, the rising demand for SDWAN solutions has also been one of the major factors driving the growth of the industrial networking solutions market.
On the flip side, the factor of concerns regarding malware attacks, data theft, and ransomware are considered to restrain the growth of the market for industrial networking solutions.
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Regional Outlook
As per the regional analysis, the global market for industrial networking solutions is studied for main regions such as Europe, Asia-Pacific, North America, and the rest of the world.
Among these, the region of North America will be leading the industrial networking solutions market in the forecast period. The US is the leading area in the North American region for increased demand for SDWAN solutions by businesses operating in various.
The market in Asia-Pacific has significant chances to be the fastest-growing region in the industrial networking solutions market for witnessing a rise in wireless technology in industrial operations. Countries like China and Taiwan are technically developing at a rapid pace and have adopted IoT solutions for their industrial sector. Thus, business bodies in these countries have a leading contribution to the growth of the market in the Asia-Pacific region.
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