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Industrial Networking Solutions Market Analysis, Share and Size, Trends, Industry Growth And Segment Forecasts To 2023
The era of industrial automation has brought significant changes in the way machines, manufacturing processes, and supply chains operate in an industrial facility. The equipment that are connected to the Internet are going through tremendous transformations including data transfer, analysis, and generating insights. Along with these transformations, there is a constant need for maintaining network connectivity and securing these networks from malware and cyber-attacks. Industrial networks, nowadays, are transforming themselves into a smart and converged networking system to provide a robust and efficient communication system.
One of the major components of the industrial network is the Ethernet which is used to connect a wide range of network components such as controllers, network devices, and computers. At present, Ethernet is used in industrial sectors like automotive, oil & gas, healthcare among others; however, it is expected to be replaced by fiber optics owing to the latter’s connectivity features including faster data transmission, reduced latency, and high throughput.
Increasing demand for SDWAN solutions is one of the major factors driving the growth of industrial networking solutions market. Moreover, the rise in the adoption of IIoT solutions for industrial work processes has fueled the growth of industrial networking solutions market. However, concerns regarding data theft, malware attacks, and ransomware are still restraining the growth of the market for industrial networking solutions.
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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.
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 market 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 market 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 market 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.
The Industrial Networking Solutions Market is estimated to reach USD 24.82 billion by the end of forecast period with a CAGR of 19.2%.
The key players in the industrial networking solutions market 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 market. 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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Network solution providers
Industrial networking solution providers
Research organizations, universities, and consulting companies
Network testing service providers
Application design and software developers
Consultancy firms and advisory firms
Network solution distributors
LIST OF TABLES
Table 1 Industrial Networking Solutions Market, By Region, 2018–2023
Table 2 North America: Industrial Networking Solutions Market, By Country, 2018–2023
Table 3 Europe: Industrial Networking Solutions Market, By Country, 2018–2023
Table 4 Asia-Pacific: Industrial Networking Solutions Market, By Country, 2018–2023
Table 5 Middle East & Africa: Industrial Networking Solutions Market, By Country, 2018–2023
LIST OF FIGURES
FIGURE 1 Global Industrial Networking Solutions Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Industrial Networking Solutions Market
FIGURE 4 Value Chain Of Global Industrial Networking Solutions Market
FIGURE 5 Share Of Global Industrial Networking Solutions Market In 2017, By Country (In %)
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