Industrial Networking Solutions Market 2021 Will Reflect Significant Growth in Future with Size, Share, Growth, and Key Companies Analysis

In a recent published report, Kenneth Research has updated the market report for Industrial Networking Solutions Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Industrial Networking Solutions Market products.

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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

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