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Industrial Networking Solutions Market Overview
Industrial Networking Solutions Market Size was valued at USD 11.2 billion in 2022. The Industrial Networking Solutions market industry is projected to grow from USD 13.7 billion in 2023 to USD 70.0 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 22.6% during the forecast period (2022 - 2032). Rising demand for wireless networks, their use in business operations and software defined wide area network are the factors driving the growth of the market.
FIGURE 1: INDUSTRIAL NETWORKING SOLUTIONS MARKET 2018-2032
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Covid-19 Analysis
The COVID-19 pandemic, which started in the Chinese region of Wuhan, rapidly spread around the world. In order to stop the spread of the fatal virus, this caused governing authorities to decide to lock down industrial and other corporate operations. Many workers, students, and other groups chose to stay inside as a result. To maintain company operations, organisations changed their working environments to the new normative work-from-home scenario. Additionally, businesses restricted employee movement during meetings held via virtual platforms. This in turn increased demand for other productivity tools as well as cloud-based business communications solutions. As a result, the demand for wired and wireless Internet access has increased due to the epidemic.
The construction of semiconductor devices requires the use of several components. However, the global pandemic has caused a sharp decline in demand for the parts, especially in nations that have imposed total lockdowns. All providers of other component services and manufacturers of internet equipment systems are primarily impacted by import and export restrictions. Due to a labour shortage, testing facilities in the US, and a number of packages, the impact on component makers of fire extinguishers, fire sprinklers, and other products is also significant. For businesses that produce different fire suppression components, this has led to a challenging situation. Many small and medium-sized manufacturers are having trouble finding package suppliers with enough production capacity.
Industrial Networking Solutions Market Trends
Advent of advanced technologies for industrial operations
The industrial world is being impacted by several technological developments, which are driving up demand for high-quality goods and services that can only be produced at high productivity. This criteria calls for the use of process engineering systems, automated manufacturing, and industrial automation. Industrial automation (hardware & software) refers to the categorization of software and hardware as well as the method that unifies them. It also means providing new features utilising workplace technology to get around limitations. Automation can be accomplished by installing automated hardware, such as embedded systems, or by using software that automates logical operations and manages operational procedures.
Future production systems will need to provide flexible, adaptive production processes with competitive production costs, which may be done through scalable automation technology. For an operation to be productive and profitable, it must remain operational. For instance, during planned downtime, machine maintenance is necessary to maintain the highest level of industrial productivity. In order to properly manage problems, it is better if machines can predict when and where they will arise. For analysis, this data must be disseminated throughout industrial networks and is also useful for machine learning and business intelligence.
Industrial Networking Solutions Market Segment Insights
Industrial Networking Solutions Component Insights
The market for industrial networking solutions has been divided into hardware and services based on component. Ethernet switches, routers & gateways, network security equipment, cables, and other items make up the hardware's sub-segments. Network access services, network infrastructure design services, implementation services, network performance validation services, network management & monitoring services, and others are all included in the services section.
FIGURE 2: INDUSTRIAL NETWORKING SOLUTIONS MARKET SHARE BY COMPONENT 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industrial Networking Applications Insights
The market for industrial networking solutions has been divided into many categories based on the applications they are used for: remote monitoring, asset tracking & management, real-time diagnostics and repair, supply chain management, predictive maintenance, emergency & incident management, and others.
For instance, The use of remote monitors or probes to remotely monitor network operational operations is made possible by the Remote Monitoring standard definition. Network administrators may oversee and manage their network architecture more effectively with the help of remote monitoring.
Also, Asset tracking electronically records and automatically tracks an asset. It looks through the data to determine how many assets a site needs and forecasts when to replace and repair them. These documents include data for audits and actual counts. Asset tracking electronically records and automatically tracks an asset. It looks through the data to determine how many assets a site needs and forecasts when to replace and repair them. These documents include data for audits and actual counts.
Industrial Networking Solutions Deployment Insights
Based on the deployment, the market has been classified into cloud and on premises. The need for industrial networking solutions with cloud deployment options will expand as wireless technologies become more prevalent across a wide range of sectors.
Industrial Networking Solutions Networking Insights
Based on networking type—wireline networking and wireless networking—the global market for industrial networking solutions is split into two areas. A substantial portion of the market was occupied by wireless networking. Wireless networking is a way to connect multiple pieces of equipment in homes, telecommunications networks, and business setups without having to spend money running wires inside a structure. In the creation and administration of administrative telecommunications networks, radio communication is frequently used. At the physical (layer) level of the OSI model network structure, this takes place.
Industrial Networking Solutions Regional Insights
The North America, Europe, Asia-Pacific, South America, and the Middle East & Africa regions make up the global market for industrial networking systems. In 2021, North America held the top spot in the global market for industrial networking solutions. During the forecast period, Asia-Pacific is anticipated to develop at the fastest rate. During the forecast period, market share for industrial networking solutions is anticipated to place Europe in second place globally.
Over the course of the forecast, the North American market is anticipated to dominate the global market for industrial networking solutions. This is explained by the growing use of agile networks, industrial Internet of Things (IIOT), and smart linked devices. Additionally, it is anticipated that the presence of major suppliers of industrial networking solutions along with early adoption of digital technologies will fuel the expansion of the North American industrial networking solutions market. The need for IoT sensors and linked devices is also predicted to expand, which will support the development of industrial networking solutions throughout the forecast period. The global market for industrial networking solutions is anticipated to be driven by rising cloud and mobile technology use.
FIGURE 3: INDUSTRIAL NETWORKING SOLUTIONS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industrial Networking Solutions Key Market Players & Competitive Insights
The North America, Europe, Asia-Pacific, South America, and the Middle East & Africa regions make up the global market for industrial networking systems. In 2021, North America held the top spot in the global market for industrial networking solutions. During the forecast period, Asia-Pacific is anticipated to develop at the fastest rate. During the forecast period, market share for industrial networking solutions is anticipated to place Europe in second place globally.
Over the course of the forecast, the North American market is anticipated to dominate the global market for industrial networking solutions. This is explained by the growing use of agile networks, industrial Internet of Things (IIOT), and smart linked devices. Additionally, it is anticipated that the presence of major suppliers of industrial networking solutions along with early adoption of digital technologies will fuel the expansion of the North American industrial networking solutions market. The need for IoT sensors and linked devices is also predicted to expand, which will support the development of industrial networking solutions throughout the forecast period. The global market for industrial networking solutions is anticipated to be driven by rising cloud and mobile technology use.
Key Companies in the Industrial Networking Solutions market include
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Siemens AG
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Juniper Network
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Dell Inc
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Moxa inc
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Cisco Systems INC
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ABB
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Eaton
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Huawei Technologies co ltd
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Rockwell Automation Inc
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HP enterprise development LP
Industrial Networking Solutions Industry Developments
In July 2023, the MegaFlex DPA UPS solution was launched by ABB India Electrification business, which allows for higher energy efficiency and a decreased footprint of up to 45% in the Indian data center market. This launch expands ABB’s product portfolio in response to an increasing demand for efficient and sustainable power solutions in the Indian data center market, thus reinforcing its commitment to sustainability as well as its position as the supplier of secure, smart and sustainable power technologies for global data centers which aligns with its Mission to Zero for smart cities.
HCL Technologies entered into a partnership with Dell in February 2023 that allowed them to modernize networks for telecom companies and large organizations as well as introduce new 5g products. The collaboration between HCL Technologies and Dell helped the company expand its range of services and solutions, particularly network modernization and 5G technology. This strategic partnership enabled HCL Technologies to provide improved services to clients in both telecoms and enterprise sectors thereby enhancing its competitive standing while potentially opening up innovative networking solutions for revenue growth.
April 2020 - Cisco revealed plans to acquire network company Fluidmesh Networks (Fluidmesh), whose wireless backhaul system is utilized worldwide. Fluidmesh will enable Cisco's industrial wireless networking offerings to target industries with mobile assets or applications where reliable backhaul is mission-critical. Cisco's IIoT business will be sped up by scaling this capability along with their solution-oriented offerings from Fluidmesh coupled with their relationships with systems integrators so that successful industrial wireless networking deployments can occur, touching many partners and end-users.
May 2020 - Dell Technologies has introduced Enterprise SONiC Distribution by Dell Technologies, a comprehensive suite of open-source networking solutions backed by complete support from Dell’s experts. As more businesses are adopting contemporary hybrid cloud models across different sectors, there has been an inefficiency resulting from the historical monolithic proprietary approach taken towards networking. Dell Technologies has built on Microsoft Corporation’s work initiated through the Software for Open Networking in the Cloud (SONiC) open source project.
NXP Semiconductors N.V. announced in January 2020 a multi-gigabit Ethernet switch designed for automakers to deliver the high-speed networks required for evolving connected vehicles. One of the first automotive Ethernet switches featuring built-in safety capabilities and offering integrated hardware-assisted security, and multi-gigabit interfaces is NXP SJA1110. The SJA1110 switch is optimized for integration with NXP's S32G vehicle network processor as well as being an integral component of an overall networking solution including VR5510 power management I.C. As such, it addresses some of the biggest challenges facing vehicle networking, such as scalability, security, safety, and high-speed traffic engineering.
November 2021: Siemens AG partnered with Palo Alto Networks, a cybersecurity company that offers a cloud-based firewall. The partnership aims to combine the VM-Series firewall with Siemens Ruggedcom networking and security appliances. The merger will enable protect the industrial control system without compromising security.
July 2021: Juniper Networks Inc. partnered with Dragos, an industrial cybersecurity company in the US. The partnership aims to utilize Juniper routing switching firewalls and Dragos advanced industrial cybersecurity technologies to provide real-time response to attacks.
May 2022: Dell Inc. and snowflake, a cloud computing-based data warehousing company based in Bozeman, Montana, announced their collaboration. The collaboration will help its customers have greater flexibility in operating in a multi-cloud environment and better handling their data.
February 2022: Dell Inc. and Microsoft Azure VMware are working together on a solution where data and workloads can be processed and supplied precisely where needed. They can be shared across many environments, thanks to a multi-cloud architecture. The multi-cloud infrastructure will help in day-to-day business operations providing consistent management across cloud environments for better security.
November 2021: Moxa Inc. collaborated with Xilinx, Inc, a semiconductor manufacturing company. The collaboration holds great promise for enhancing network flexibility and interoperability on different levels of a TSN system.
Industrial Networking Solutions Market Segmentation
Industrial Networking Solutions Component Outlook
- Technologies
- Services
Industrial Networking Applications Outlook
- Remote monitoring
- Asset tracking and management
- Supply chain management
- Real time streaming and video
- Emergency and incident management
- Predictive maintenance
Industrial Networking Solutions Deployment Outlook
- Cloud
- On Premises
Industrial Networking Solutions Networking Outlook
- Wireless networking
- Wireline networking
Industrial Networking Solutions Regional Outlook
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East & Africa
- South America
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