The industrial networking market is projected to grow at a Compound Annual Growth Rate (CAGR) of 21.0%
The industrial networking market is projected to grow at a Compound Annual Growth Rate (CAGR) of 21.0% during the forecast period
LONDON, March 5, 2018 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5351718
The global industrial networking solutions market size is expected to grow from USD 9.18 billion in 2017 to USD 23.84 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 21.0% during the forecast period. The growing need for predictive maintenance, proliferation of wireless technologies in industry operations, and advent of data analytics and data processing are some of the factors driving the industrial networking solutions market.
In addition, continuous increase in the number of IoT devices is one of the biggest and most important factors resulting in the market growth. However, data security and privacy concerns restrain the market growth
SDWAN in the technology segment is expected to grow at the highest CAGR during the forecast period
Software-Defined Wide Area Network (SDWAN) is a replacement for the traditional routers; it provides a dynamic and policy-based application path for business functions. SDWAN uses cloud-based software and technologies to enhance and optimize the delivery of the Wide Area Network (WAN) services to the remote offices of an enterprise.
Moreover, SDWAN is an emerging technology, which revolutionizes networking and makes it faster and more reliable and manageable. The technology enables administrators to manage networks in more agile fashion by controlling them with software-defined functions
Emergency and incident management in the application segment is expected to have the largest market size during the forecast period
Workplace safety is one of the most important concerns for several manufacturers and industrial operators. It includes both machine and process safety and is vital in protecting workers, avoiding production interruptions, and achieving operational success.
This is when the emergency and incident management application helps manufacturers to identify, analyze, and correct threats to prevent a future reoccurrence of threats on the manufacturing floor
North America is expected to have the largest market size and Asia Pacific is projected to grow at the highest rate during the forecast period
North America is expected to account for the largest market share in the industrial networking solutions market during the forecast period. The factors that propel this growth include increase in adoption of smart connected devices, Industrial Internet of Everything (IIoE), and agile networks. For instance, since 2012, the US has incorporated smart solutions into industries, such as energy and utilities, industrial automation, intelligent buildings and infrastructure, and public safety.
Most of the smart city projects in the US are near completion; thus, the country is expected to witness a low-growth rate in the smart cities space in the forthcoming years.
Asia Pacific (APAC) comprises growing economies, such as Japan, China, India, Singapore, and Australia, which are expected to register high growth in the industrial networking solutions market. APAC has witnessed the advanced and dynamic adoption of new technologies, such as Industrial Internet of Things (IIoT), SDWAN, and Wireless Local Area Network (WLAN), and has always been a lucrative market for industrial networks.
In addition, the advancement of the telecom sector in this region is expected to fuel the growth of the industrial networking solutions market. Moreover, telecom service providers in this region offer connectivity solutions to support government initiatives, driving the smart connected society.
In the process of determining and verifying the market size of several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profiles of the primary participants is as follows:
• By Company: Tier 1 – 30 %, Tier 2 – 40%, and Tier 3 – 30%
• By Designation: C-Level – 72%, Director Level – 14%, and Others – 14%
• By Region: North America – 57%, Europe – 14%, and APAC – 29%
The industrial networking solutions market includes various major vendors, such as Huawei (China), Eaton (Ireland), Cisco (US), Dell EMC (US), Juniper Networks (US), Sierra Wireless (Canada), Aruba Networks (US), Veryx Technologies (US), ABB (Switzerland), Moxa (US), Belden (US), and Rockwell Automation (US).
Research Coverage
The report includes an in-depth competitive analysis of the key players in the industrial networking solutions market along with their company profiles, recent developments, and key market strategies. The report segments the industrial networking solutions market by component (technology and services), application, deployment, vertical, and region.
Reasons to buy the Report:
The industrial networking solutions market is segmented on the basis of components (technology and services), application, deployment, vertical, and region.
The report is expected to help the market leaders/new entrants in the industrial networking solutions market in the following ways:
1. The industrial networking solutions market revenue stream has been estimated based on the revenues generated by vendors (excluding hardware), offering networking solutions and associated services, inclusive of network auditing and testing, planning and optimization, orchestration, integration, security, provisioning, consulting, support and maintenance, and training and education services, offered by service providers, including Managed Service Providers (MSPs).
The report provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further divided into applications and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
3. The report is expected to help the stakeholders understand the competitors and gain more insights to improve their market position. The competitive landscape section includes the competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.
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