Industrial Networking Solutions Market Worth 23.84 Billion USD by 2022
PUNE, India, February 26, 2018 /PRNewswire/ --
According to a new market research report "Industrial Networking Solutions Market by Technology (SDWAN, WLAN, & IIoT), Service (Network Planning & Optimization, & Integration), Application (Predictive Maintenance, & Emergency & Incident Management), Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market size is expected to grow 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 (2017-2022).
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The major factors that are expected to drive the growth of the Industrial Networking Solutions Market include the growth in need for predictive maintenance and proliferation of wireless technologies in industry operations. In addition, advent of data analytics and data processing, and increase in demand for Software-Defined Wide-Area Network (SDWAN) solutions are some of the factors that are expected to drive the market growth.
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The technology segment is expected to be the fastest-growing component in the Industrial Networking Solutions Market during the forecast period
The wireless technologies, such as SDWAN, LoRa, SigFox, and Wireless Local Area Network (WLAN), have helped industrial organizations to simplify their network infrastructure by enabling multiple computer users to simultaneously share resources on the plant floor or at an operation center, without additional intrusive hardware specification. These technologies do not require laying wires, drilling into walls, or stringing Ethernet cables in a manufacturing plant building or office.
The network planning and optimization segment is expected to hold the largest market share in the Industrial Networking Solutions Market during the forecast period
Network planning and optimization help enhance the performance of network infrastructure for the advancement of network availability and secured data flow. Network planning majorly deals with traffic forecasting and capacity planning to stabilize the network's performance. In addition, it helps develop network strategies and action plans to achieve business-specific goals and provide timely inputs during the designing and architecting phase of the network.
North America is expected to have the largest market share in the Industrial Networking Solutions Market during the forecast period
North America is one of the largest contributors to the Industrial Networking Solutions Market due to its dominance with sustainable and well-established economies, empowering it to invest in Research and Development (R&D) activities strongly. Owing to the early adoption of new technologies, such as SDWAN, Industrial Internet of Things (IIoT), and WLAN, the North American organizations would integrate industry-grade networking solutions to enhance their networking ecosystem. Various stakeholders in this market, such as industrial networking solution providers, Managed Service Provider (MSPs), technology consultants, and network operators, have partnered with major players for the advancement of organizations' networking ecosystem in this region. For instance, Sierra Wireless partnered with T-Mobile, one of the leading network operators in North America. Further, under this partnership, T-Mobile integrated Sierra's embedded modules on its network to transform Internet of Things (IoT) applications by enabling lower costs, longer battery life, and superior network coverage.
Some of the major vendors in the Industrial Networking Solutions Market include as Cisco (US), Dell EMC (US), Juniper Networks (US), Sierra Wireless (Canada), Aruba Networks (US), Veryx Technologies (US), Moxa (US), Belden (US), and Rockwell Automation (US).
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