Industrial Networking Solutions Market 2020 provides an in-depth insight of Sales and Trends Forecast to 2023

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Dec 01, 2020 (AmericaNewsHour) —
Kenneth Research has recently added a market research study on Industrial Networking Solutions Market 2023 which provides a complete comprehensive analysis including the data by Segmentations, by Geography and as well as the competitive landscape of the top 10 Vendors in this market

In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Industrial Networking Solutions Market over the period 2019-2026. As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017

Market Synopsis

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.

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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.

Segmentation

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.

Regional analysis

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).

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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%.

Key players

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.

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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).

Intended Audience

Network solution providers

Industrial networking solution providers

Network operators

Research organizations, universities, and consulting companies

Network testing service providers

Application design and software developers

Consultancy firms and advisory firms

Technology consultants

Government

OEM

Network solution distributors

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

Contact Us

Name: Kenneth research
Email:[email protected]
Phone: +1 313 462 0609

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