Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Industrial Networking Solutions Market.
According to the newest report by Market Research Future (MRFR), the global industrial networking solutions market is slated to acquire a noteworthy market valuation at a steady CAGR over the review period.
Growing demand for SDWAN solutions is one of the main factors driving the growth of industrial networking solutions market over the assessment period. Moreover, the increase in the adoption of IIoT solutions for industrial work procedures is fuelling the growth of industrial networking solutions market in the coming years. However, concerns regarding malware attacks, data theft, and ransomware are still restraining the growth of the market for industrial networking solutions.
One of the essential components of the industrial network is the Ethernet which is utilized to connect an extensive range of network components such as network devices, controllers, and computers. At present, Ethernet is utilized in industrial sectors like oil & gas, automotive, healthcare among others. This has increased the adoption of industrial networking solutions in several industry verticals and is driving the market over the review period. On the other hand, it is projected to be replaced by fiber optics due to the latter’s connectivity properties including reduced latency, faster data transmission, and high throughput, which may hinder the market growth to a certain extent over the review period.
Segmental Analysis
The global industrial networking solutions is segmented on the basis of component, technology, deployment, industry verticals.
By component, the industrial networking solutions market is segmented into hardware and service. The hardware component is sub-segmented into routers & gateways, Ethernet switches, cables, network security devices, and others. The service segment is sub-segmented into network infrastructure design services, network access services, network performance validation services, implementation services, and network management & monitoring services.
Based on the technology, the industrial networking solutions market is segmented into wireless local area network (WLAN), software-defined extensive area network (SDWAN), and industrial Internet of Things (IIoT).
Based on the deployment, the market for industrial networking solutions is segmented into on-premise and on-cloud.
Based on the industry vertical, the market is segmented into automotive & transportation, semiconductor, energy & utilities, healthcare, chemicals & petrochemicals, and others.
Based on the region, the global industrial networking solutions market has been segmented into Europe, Asia-Pacific, North America, and the rest of the world (including Africa, the Middle East, and Latin America).
North American region is likely to dominate the market for industrial networking solutions over the forecast period and is projected to register a significant market share. The developed countries of the North American region, such as US and Canada, are expected to dominate the North American region owing to augmented demand for SDWAN solutions by several end-use industries. This is driving the usage and demand for industrial networking solutions in the region and is likely to contribute considerably towards the market share over the review period.
Asia-Pacific is assessed as the fastest-growing region in the industrial networking solutions market over the review period, in terms of value and growth rate, owing to rise in wireless technology in industrial operations. Developing Countries like China, India, and Taiwan are technologically enhancing and are witnessing increased adoption of IIoT solutions for the growth of their industrial sector. Hence, enterprises in these countries have a notable contribution to the growth of the Asia-Pacific region over the review period.
Key players
the key players identified by MRFR are Cisco Systems Inc. (US), Siemens AG (Germany), Juniper Networks (US), Moxa Inc. (US), Dell Inc. (US), ABB (Switzerland), Huawei Technologies Co. Ltd (China), Eaton (Ireland), Rockwell Automation Inc. (US), Hewlett Packard Enterprise Development LP (US), Sierra Wireless (Canada), Neteon Technologies Inc. (US), Belden Inc. (US), ITM Communications Ltd (UK), Analog Devices Inc. (US), Black Box Network Services (US), Yokogawa Electric Corporation (Japan), MicroSystems (India), Extreme Networks (US), and CSG Networks Private Limited (India).