Dublin, Feb. 16, 2024 (GLOBE NEWSWIRE) -- The "Global Industrial Networking Solutions (INS) Market by Offering, Technology (SD-WAN, WLAN, IIoT), Service, Application (Remote Monitoring, Predictive Maintenance, Emergency & Incident Management), Vertical, Networking Type and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
Global industrial networking solutions market size is projected to grow from USD 29.2 billion in 2023 to USD 73.3 billion by 2028, at a CAGR of 20.2%
The report would help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall industrial networking solutions market and the subsegments.
This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report would help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
As industrial networks become more interconnected, the risk of cyberattacks also increases. Industrial networking solutions providers are developing secure and reliable solutions to protect critical infrastructure from cyber threats.
The major players in the Industrial networking solutions market are Cisco (US), Juniper Networks (US), Huawei (China), Dell Technologies (US), Rockwell Automation (US), Eaton (Ireland), Nokia (Finland), HPE (US), ABB (Switzerland), Belden (US), Siemens (Germany), Moxa (US), Red Lion Controls (US), Veryx Technologies (India), Litmus Automation (US), Celona (US), GE Digital (US), Kyland Technology (China), Graphiant (US), A5G Networks (US).
These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their footprint in the industrial networking solutions market.
By application, the predictive maintenance segment is expected to grow with the highest CAGR during the forecast period
The predictive maintenance application smartly identifies the primary variables through root cause analysis and analyzes the assets' performance and products' quality, thereby minimizing reliability issues and meeting the delivery schedules of commercial clients.
The predictive maintenance application aims to improve the reflectiveness of every machine on the customer's site and avoid machine failures and the associated consequences. Companies such as Moxa are offering predictive maintenance applications, called proactive self-maintenance, which helps industries monitor the health of the computers deployed in their IIoT-enabled systems for performing preventive maintenance activities, thus maximizing the system's uptime.
By vertical, the discrete industry segment is expected to hold the largest market size during the forecast period
The discrete industry vertical is involved in the manufacturing of distinct items, such as heavy machines, automobile parts, semiconductors and electronics, medical devices, and logistics and transportation equipment. Manufacturers in the discrete industry face challenges, such as ever-changing customer expectations, accelerated time-to-market cycles, regulatory pressure, and the rising cost of materials.
To address such challenges, discrete industry companies have started using IIoT technologies and data analytics. The IIoT technology uses sensors fitted into finished goods to track the usage patterns and help the engineers view the usage rate of a particular product. Moreover, by using IIoT technologies, the engineers can assess the real usage data and derive insights for improving the product design by identifying feature gaps, non-value-adding features, use-case segments, and engineering weaknesses.
Asia Pacific is expected to grow with the highest CAGR during the forecast period
The Asia Pacific region has become a hotbed for the rapid adoption of industrial networking solutions. The industrial networking solutions market in the Asia Pacific is booming, fueled by the rising adoption of wireless technologies, cloud adoption, and security concerns with China, Japan, and India leading the charge.
Cloud-based services are gaining traction, while industries like BFSI, media, and automotive are driving demand. Consolidation is shaping the competitive landscape, with established players like Cisco, Juniper Networks, and Huawei competing for dominance. As the market embraces new technologies like ML and AI, the future looks bright for industrial networking solutions in Asia Pacific.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $29.2 Billion |
| Forecasted Market Value (USD) by 2028 | $73.3 Billion |
| Compound Annual Growth Rate | 20.2% |
| Regions Covered | Global |
Premium Insights
- Increase in Demand for Sd-Wan Solutions and Proliferation of Wireless Technologies in Industrial Operations to Drive Market
- North America: IIoT and US to Account for Largest Segmental Shares
- Asia-Pacific: IIoT and China to Account for Largest Segmental Shares
Case Study Analysis
- Lotte Restructured Existing Wan with Cisco Sd-Wan
- Taft Stettinius & Hollister Llp Improved Network Reliability with Oracle Sd-Wan
- Stolt-Nielsen Restructured Its Mpls Wan with Expereo and Vmware Sd-Wan to Gain Network Visibility and Eliminate Management Complexity
- Coevolve Implemented Vmware Sd-Wan to Transform Rgis's Branch Office Networking
- Windstream Brought Automation to Managed Sd-Wan Services by Deploying Ciena's Blue Planet
Market Dynamics
Drivers
- Growing Need for Predictive Maintenance
- Increasing Demand for Sd-Wan Solutions
- Proliferation of Wireless Technologies in Industry Operations
- Advent of Data Analytics and Data Processing
- Increasing Adoption of Industry 4.0
Restraints
- Data Security and Privacy Concerns
- Cost Constraint
Opportunities
- Growing Integration of IIoT
- Convergence of Ot and IT
Challenges
- Complexities in Connecting Legacy Systems to Smart Infrastructure
- Data Migration Challenges
- Scalability
Industry Trends
Ecosystem/Market Map
- Value Chain Analysis
- Regulatory Landscape
Key Technologies
- Ethernet/IP and Profinet
- Modbus
- Object Linking and Embedding for Process Control Unified Architecture (Opc Ua)
- 5G
Complementary Technologies
- Software-Defined Networking (Sdn)
- Cloud Computing
Adjacent Technologies
- Wireless Technologies
- Industrial IoT (IIoT)
Company Profiles
Major Players
- Cisco
- Juniper Networks
- Huawei
- Dell Technologies
- Rockwell Automation
- Eaton
- Nokia
- Hpe
- ABB
- Belden
- Siemens
- Moxa
- Red Lion Controls
Other Players/Startups
- Veryx Technologies
- Litmus Automation
- Celona
- GE Digital
- Kyland Technology
- Graphiant
- A5G Networks
For more information about this report visit https://www.researchandmarkets.com/r/q9sbgr
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