Industrial Networking Solutions Market is expected to reach US$ 137.70 Billion by 2031

Industrial Networking Solutions Market Analysis: Key Insights

According to our latest study on "Industrial Networking Solutions Market Global and Regional Share, Trend, and Growth Opportunity Analysis – by Component, Connectivity, Deployment, and End-Use Industry," the market was valued at US$ 29.45 billion in 2023 and is expected to reach US$ 137.70 billion by 2031; it is estimated to record a CAGR of 21.3% from 2023 to 2031. Increasing adoption of wireless technologies and rising demand for predictive maintenance propel the industrial networking solutions market growth. However, high initial investment hinders the growth of the market.

The scope of the industrial networking solutions market report focuses on North America, Europe, Asia Pacific, the Middle East & Africa, and South America. The market in North America is witnessing substantial expansion. It is poised to become a leading force in the global market and holds a substantial industrial networking solutions market share. North America, notably the US, has been at the forefront of embracing cutting-edge technologies such as industrial automation, the Internet of Things (IoT), and Industry 4.0. As a result, there is a growing need for industrial networking solutions that facilitate seamless connectivity and data exchange within these advanced technological ecosystems. Prominent companies such as Cisco Systems Inc.; Juniper Networks Inc.; Rockwell Automation, Inc.; and Sierra Wireless, Inc. play a significant role in driving innovation and growth in the North American market. These companies leverage their expertise to deliver robust networking solutions tailored to the specific requirements of industries in the region. Several key factors drive the US industrial networking solutions market. Firstly, there is a rising demand for automation and connectivity in industrial processes as industries aim to improve efficiency and productivity. This drives the need for robust networking solutions that can optimize various industrial operations. The increasing adoption of wireless technologies in industrial processes and the industrial networking solutions market trends such as Bring Your Own Device (BYOD) create significant opportunities for the market. The use of wireless technologies and personal devices such as laptops and smartphones in corporate workplaces drives the market. Lastly, advancements in data processing and analytics tools have a positive impact on the market, allowing organizations to make data-driven decisions and improve overall operational efficiency.

Industrial Networking Solutions Market

Increasing Need for Predictive Maintenance Propels Industrial Networking Solutions Market Growth

The increasing need for predictive maintenance is a key factor contributing to the growing industrial networking solutions market size. Industrial networking solutions offer the capability to monitor operations in real time and predict maintenance requirements, enabling organizations to optimize their maintenance activities and minimize downtime. By utilizing technologies like the Industrial Internet of Things (IIoT) and advanced analytics, organizations can proactively identify potential equipment failures before they happen. This enables planned repairs and reduces the occurrence of unexpected breakdowns, ultimately leading to enhanced operational efficiency and cost savings. The adoption of industrial networking solutions facilitates seamless connectivity and empowers organizations to make informed decisions based on data for optimal maintenance optimization.

Industrial Networking Solutions Market: Segmental Overview

Based on deployment, the industrial networking solutions market is segmented into on-premises and cloud. The on-premises segment accounted for a larger industrial networking solutions market share in 2023. In industrial networking solutions, the term "on-premises" signifies the establishment and management of IT infrastructure within the physical premises of an organization. This approach provides complete control over the infrastructure, ensuring data security and compliance with industry regulations. The on-premises segment can be divided into two categories: on-premises services and on-premises products. On-premises services involve professional services such as employment and education services that are associated with software products. On the other hand, on-premises products primarily focus on licensing, marketing, and maintaining both on-premises and mobile software products.

Industrial Networking Solutions Market Analysis: Competitive Landscape and Key Developments

ABB; Belden Inc.; Cisco Systems, Inc.; Hewlett Packard Enterprise Development LP; Huawei Technologies Co., Ltd.; Moxa Inc.; Nokia; Rockwell Automation, Inc.; Semtech; and Siemens are among the prominent players profiled in the industrial networking solutions market report. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities. The industrial networking solutions market forecast can help stakeholders plan their growth strategies. A few developments in the market, as per company press releases, are mentioned below:

• In October 2023, Moxa Inc. was a highlight at SPS 2023, where they unveiled an innovative portfolio that served as a testament to their leadership in industrial communications and networking. Attendees had the opportunity to explore Moxa's latest Managed Switches, Next-Generation Firewalls, and Industrial PCs, all engineered with cutting-edge technology to address the complex and evolving needs of the industry. This event marked a significant milestone where Moxa's innovations were showcased, providing insights into solutions that were not only advanced but also designed to shape the future of industrial networking.
• In April 2023, Deutsche Telekom (DT) launched a new campus network solution with an industrial 5G spectrum, providing business customers with the benefits of a private 5G network without the requirement for additional investments in their infrastructure. The solution, called Campus Network M with Industrial Frequencies, allows companies to exclusively utilize their 5G industrial frequencies in the 3.7 to 3.8 GHz range. This launch follows successful tests conducted in the 5G campus network of injection molding machine manufacturer Arburg in January 2023. The commercial launch of the solution allows companies to benefit from the exclusivity of the local 5G spectrum in the 3.7 to 3.8 GHz range without the need for additional infrastructure investments.
• In March 2023, Huawei released the industry’s first Lossless Industrial Optical Network solution based on Fifth-generation fixed network (F5G) technologies at the Mobile World Congress 2023 (MWC 2023) during the F5G Evolution, Unleashing Green Digital Productivity session. This solution can help customers build highly reliable industrial networks in order to improve production quality and efficiency.