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 2024-2031

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

Industrial Networking Solution Market News

  • In July 2023, The MegaFlex DPA UPS system, which delivers excellent energy efficiency and a reduced footprint of up to 45% for the Indian data center industry, was introduced by ABB India's Electrification company. ABB is positioned as a technical leader in the area thanks to this creative UPS solution, which expands the company's offering, meets the expanding demand in the data center business, and supports sustainability goals.
  • In February 2023, HCL Technologies and Dell worked together to introduce innovative 5G solutions and update networks for businesses and telecom providers. The objective of this strategic alliance was to improve network performance and provide cutting-edge solutions to customers in the business and telecommunications industries. The company benefited from the partnership between HCL Technologies and Dell by diversifying its offerings, especially in the area of network modernization.
  • In December 2023, In order to provide programmable network applications for businesses utilizing Nokia Network as a Code platform, Nokia partnered with Innova Solutions. Businesses in areas including banking and financial services, technology, life sciences, retail, logistics, and transportation will see faster digital transformations as a result of the deal.
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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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