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Industrial Networking Solutions Market Segmented By component such as Hardware, Software and Services with networking type such as Wireless networking and Wireline networking
As the IT environment is increasingly adopting new solutions to enable cloud, mobile and analytic initiatives, enterprises continue to depend on the providers of industrial networking solutions for quick and secure transfer of information within demanding applications.
As industries are getting more and more connected, the demand for industrial networking solutions is increasing. Also, with the rising trend of industrial IoT, the need for industrial equipment connected is growing, which further drives the demand for industrial networking solutions.
Moreover, the increasing demand for industrial Ethernet and wireless technologies is creating demand for industrial networking solutions. Advanced industrial networking solutions are helping various industries in streamlining operations and improving the efficiency of IT service delivery and due to this factor, the demand for industrial networking solutions is increasing rapidly.
The need for industrial networking solutions is growing as major economic sectors are undergoing transformation as robots, vehicles and industrial control systems connect to the internet. Industrial networking solutions enable automation, not only at the factory level, but throughout the business processes. Thus, the demand for industrial networking solutions is increasing rapidly in various developing countries.
Furthermore, the widespread adoption of personal devices in the workplace is also generating potential opportunities for the industrial networking solutions market. Moreover, the demand for industrial networking solutions is growing to provide integrated security and better manageability for industrial networks.
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Drivers
The growing need for predictive maintenance and continuous increase in the demand for software defined wide area network are the primary factors fuelling the growth of the industrial networking solutions market. Also, the growing trend of BYOD (Bring-Your-Own-Device) is creating potential growth opportunities for the industrial networking solutions market.
Moreover, the proliferation of wireless technologies in industry operations is also expected to drive the growth of the industrial networking solutions market. The growth of the smartphone and tablet market is enthralling many organizations to adopt industrial networking solutions to identify immediate needs in digital customer experience.
Apart from this, the advent of data analytics and data processing tools is also expected to drive the growth of the industrial networking solutions market during the forecast period. Moreover, the continuous increase in the number of IoT devices is one of the major factors fuelling the growth of the industrial networking solutions market.
Challenges
The rising complexities in connecting legacy systems to smart infrastructure is the primary factor hampering the growth of the industrial networking solutions market. Apart from this, data security and privacy concerns are hindering the growth of the industrial networking solutions market.
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Some of the prominent players in the global industrial networking solutions market include Juniper Networks, Dell EMC, Huawei Technologies Co., Ltd., Sierra Wireless, Cisco Systems, Rockwell Automation, ABB, Veryx Technologies, Belden Inc. and Moxa, Inc.
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On the basis of geography, North America is expected to be a large market for industrial networking solutions due to the early adoption of digital technologies and presence of various providers of industrial networking solutions in the region.
The demand for industrial networking solutions in APAC and Europe is expected to grow rapidly in the coming few years due to the increasing adoption of cloud and mobile technologies by various small- and medium-sized companies.
Furthermore, the rising trend of industrial IoT in various countries such as Japan, Germany, China, the U.K. and India is also expected to drive the growth of industrial networking solutions in Europe and Asia Pacific.
The industrial networking solutions markets in Latin America and the MEA are also expected to witness high growth in the industrial networking solutions market in the coming period due to the rise in digital technologies and increasing adoption of smart phones and tablets in these regions.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
