Global Industrial Networking Solution Market

Industrial Networking Solution Market Size, Share, Growth Analysis, By Component(Solution and Services), By Networking Type(Wireline Networking and Wireless Networking), By Application(Remote Monitoring, Asset Tracking and Management, Supply Chain Management, Real-Time Streaming and Video), By Region - Industry Forecast 2025-2032


Report ID: SQMIG20D2233 | Region: Global | Published Date: April, 2024
Pages: 202 | Tables: 88 | Figures: 73

Industrial Networking Solution Market Dynamics

Drivers

Industrial Processes in Need of Automation

  • Using control systems to monitor and manage industrial processes is known as industrial automation. This may contribute to increased production, safety, and efficiency. The capability to link industrial systems and devices to the internet and to one another is known as industrial connectivity. Enhancing visibility, collaboration, and decision-making can be facilitated by this.

Increasing Adoption of Industry 4.0

  • The increasing need for industrial networking solutions can be attributed in large part to the broad acceptance of Industry 4.0 ideas. The seamless integration of cyber-physical systems (CPS), in which actual machinery works in real time with digital systems, lies at the core of this revolutionary paradigm change. For machines, sensors, and control systems in smart factories to communicate and coordinate, a strong industrial networking infrastructure is required.

Restraints

Scalability Challenge

  • For industrial networking systems, scalability presents a significant problem that includes hardware, software, and overall infrastructure considerations. Industrial environments are experiencing an increase in linked devices and systems, which presents challenges in the form of hardware restrictions related to device capacity, processing power, and memory. Scalability issues are exacerbated by the expenses of upgrading to ruggedized equipment that can endure inclement weather.

Overall Cost Constraint

  • A significant portion of the total expenses is attributed to the initial software investment, which includes specialised software for communication and security as well as ruggedized equipment designed for demanding industrial settings. It costs extra to integrate legacy systems with contemporary networking solutions since adapters, gateways, and employee training are needed. The cost is increased by ongoing maintenance, which includes cybersecurity precautions, firmware upgrades, and equipment care.
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FAQs

Industrial Networking Solution Market size was valued at USD 13.7 billion in 2022, USD 16.8 billion in 2023 and is projected to grow USD 70.09 billion by 2031, growing at a CAGR of 22.6% in the forecast period (2024-2031).

Many significant multinational competitors fighting for market share define the competitive landscape of the industrial networking solution. Companies that provide complete networking solutions specifically designed for industrial applications, such Cisco Systems, Siemens AG, Rockwell Automation, and Schneider Electric, dominate the industry. In order to meet the changing connection needs of industrial sectors globally, these industry titans never stop innovating to provide cutting-edge solutions including industrial routers, switches, and gateways. 'Veryx Technologies. (US)', 'Sierra Wireless (Canada)', 'Moxa Inc. (China)', 'Eaton (US)', 'Siemens (Germany)', 'General Electric (US)', 'Rockwell Automation Inc. (US)', 'Huawei Technologies Co. Ltd. (China)', 'Dell Inc.(US)', 'Juniper Networks Inc. (US)', 'Hewlett Packard Enterprise Development (US)', 'LP (US)', 'ABB (Switzerland)', 'Belden Inc. (US)', 'Schneider Electric (Germany)', 'Actelis Networks Inc. (US)', 'Cisco System Inc. (US)'

Using control systems to monitor and manage industrial processes is known as industrial automation. This may contribute to increased production, safety, and efficiency. The capability to link industrial systems and devices to the internet and to one another is known as industrial connectivity. Enhancing visibility, collaboration, and decision-making can be facilitated by this.

Business Networking Advancements With Wi-Fi Gadgets: Wi-Fi enabled devices are also leading the way in workplace networking. In locations where normal connections are either impractical or too expensive, wireless solutions come in quite handy. When necessary, they are able to adapt and develop. Smart and dynamic industrial networks are conceivable with Bluetooth, Wi-Fi, and other digital protocols. This is crucial if a business decides to use the concept of "smart factories," where touch and real-time data are essential for improving operations.

As North America, and especially the United States, has been an early adopter of cutting-edge technologies like industrial automation, the Internet of Things, and Industry 4.0, the region leads the market. In order to facilitate communication and data sharing in these technologically advanced industries, this has increased demand for industrial networking solutions. Due to the region's rapid industrialization and the expansion of many of its manufacturing sectors, Asia-Pacific is the region with the fastest rate of growth in the market for industrial networking solutions. Strong networking solutions are needed to link and streamline industrial operations in light of this expansion.

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Global Industrial Networking Solution Market

Report ID: SQMIG20D2233

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