Industrial NetworkingSolutions Market Size, Share & Industry Analysis, By Component (Hardware, Software, Services), By Deployment (On-premises, Cloud), By Industry (Banking, Financial Services and Insurance (BFSI), IT & Telecommunication, Automotive, Transportation & Logistics) And Regional Forecast 2023-2030

The rapid technological advancements and industrial revolution have transformed the IT environment.. The demand for industrial networking solutions is growing exponentially, rising connecting devices. The increasing trend of the industrial internet of things and industrial ethernet drives industrial networking solutions. Advanced networking solutions help industries to improve efficiency and streamline operations of IT service delivery. Thus, the industrial networking solution market is growing unprecedentedly. 

The increasing demand for software-defined wide area network and the growing need for predictive maintenance are primary factors responsible for fueling the market growth. Besides, the trend of bring your own device (BYOD) is creating lucrative opportunities for the industrial networking solutions market to grow. Furthermore, the increasing demand for wireless technologies in industrial processes and business operations is also anticipated to drive the industrial networking solutions market growth.

The advent of data processing and data analytics tools is also likely to boost industrial networking solutions during the forecast period. The rising adoption of the internet of things (IoT) devices is one of the key factors driving the market growth. Moreover, extensive adoption of personal devices such as laptops, tablets, smartphones in the corporate workplaces is expected to support the industrial networking solutions market growth.

Key Market Driver -

• Growing demand for predictive maintenance would be likely to drive the market • The increasing trend of the industrial internet of things and industrial ethernet stimulates the market growth

Key Market Restraint -

• Data migration is one of the prime concerns which hampers the market growth

Key Players Covered:

The key players operating the global industrial networking solutions market include Juniper Networks, Dell EMC, Huawei Technologies Co., Ltd., Sierra Wireless, Cisco Systems, Rockwell Automation, ABB, Veryx Technologies, Belden Inc., Moxa, Inc., among others.

The key players in the global industrial networking solutions market are showcasing intense business competition. Vendors are taking active measures to sustain their market competence. Several companies focus on the new product launches and existing product’s enhancement to stay competitive in a global marketplace. The prominent vendors are continuously striving to launch new products and solutions for industries that ensure unified network connectivity. Partnerships and mergers are some other key   strategies adopted by the market players to uplift their presence in the global market.

Regional Analysis:

North America  expected todominate the market due to the significant adoption of the industrial Internet of things, smart connected devices, and agile networks. The steadily rising demand for IoT sensors and connected devices would boost the industrial networking solutions adoption. The significant adoption of cloud and mobile technologies drives the industrial networking solution market. The substantial adoption of the industrial Internet of everything and smart connected devices will fuel the industrial networking solutions demand across South America.

The rapidly developing network infrastructure will drive substantial growth across Europe. The deployment of industrial IoT solutions would positively impact market growth across the region.

The Asia-Pacific is anticipated to exhibit a high growth rate with the region network infrastructure's rapid development. Rapid industrialization would cultivate significant opportunities for the market to grow. With positive government support, China is likely to emerge in adopting industrial networking solutions. The government of Japan has launched a 5G spectrum at the end of 2019, positively impacting the market growth. The trend of automation would be expected to drive the industrial networking solution market. Significant investments made by the prominent manufacturing companies will boost the industrial networking solutions demand across the Asia-Pacific.  

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Segmentation

Key Industry Developments:

• November 2019: Hitachi Kokusai Electric and Nokia Corporation collaborated to deliver a solution that supports the deployment of advanced digital automation services.


• April 2020: ZTE Corporation announced the deployment of network clusters and core router single servers for China Telecom in Liaoning province, Ganzhou, and Jinzhou. The ZTE corporation patented devices maintained the efficient and stable running of the complete network.