Industrial Network Market Overview
Industrial Network Market is
expected
to reach $55.4 billion by 2030 at a CAGR of 10.5% during the forecast period 2023-2030.
The rising adoption of connected factory and the machine to machine
communication will significantly boost the industrial network market and is estimated
to gain a huge demand. With the increase in adoption of asset tracking and
supply chain management using industrial internet of
things (IIoT) in the facilities will be driving the market.
The industrial
network are designed to fulfill the real time needs of large number of systems.
The increase in number of unmanned machinery in the facilities has also given
a massive boots to the industrial network market. The necessity to efficiently
manage the security, vulnerability, and the performance is another factor in
increasing the market growth during the forecast period of 2023-2030.
Report Coverage
The
report: “Industrial Network Market–
Forecast (2023-2030)”, by Industry ARC covers an in-depth analysis of the
following segments of the Industrial Network market.
By Category – Ethernet
Network (Ethernet/IP, Profinet, EtherCAT, Modbus TCP, Powerlink and Others), Wireless Network (WLAN, Bluetooth and Others), Fieldbus Network (Profibus, Modbus RTU, CC-Link and Others).
By Product Type – Controller,
Coupler, Remote Terminals, Code Readers, Routers and Switches, Other.
By End User – Automotive, Logistics and Transportation, Aerospace
and Defense, Electronics & Semiconductor, Medical & Healthcare, Oil and
Gas, Food & Beverage, Power, Water and Waste Water Treatment, Chemical,
Pharmaceutical, Other.
By Geography - North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy,
Spain, Russia and Others), APAC(China, Japan India, South Korea and Others), South America(Brazil, Argentina and others), and RoW (Middle east and Africa).
Key Takeaways
- The rising adoption of
connected factory and the machine to machine communication will
significantly boost the industrial network market and is estimated to gain
a huge demand. With the increase in adoption of industrial internet of
things (IIoT) in the facilities will be driving the market.
- The
supplier ecosystem worked with the automakers to develop and commercialize
the technology for the benefit of the industry. The automotive industry
has strengthened its foundation with the use of SPE servers in the manufacturing
process, and controls system industries.
- APAC being an industrial hub of many several industries such
as electronics, automotive and electrical has the largest market growth.
Global Industrial Network Market Value, 2023-2030 ($M)
Industrial Network Market Segment Analysis –By
Category
In the category segment the Ethernet
network has the largest market at 67% in 2022, since it is being used and all
the wired connection are done while the facilities are setup so the network
type has still managed to hold a huge amount of share in the market. In the era
of digitization the wireless network has the fastest market growth with the
penetration of Industry 4.0 and rising adoption of Industrial Internet of
Things. For instance ORBCOMM an American that offers industrial Internet of
things and machine to machine communications hardware has lunched dual mode
industrial IoT for better way to effectively track and connected assets.
Industrial Network Market Segment Analysis –By
End User
The supplier ecosystem worked with the
automakers to develop and commercialize the technology for the benefit of the
industry. The automotive industry’s success with SPE serves to strengthen its
foundation for use in manufacturing, process, and controls system industries.
Similarly, these industries are embracing the technology to achieve a single
converged network cloud to device and displace the prevalent legacy systems.
Industrial Network Market Segment Analysis –
By Geography
APAC being an industrial hub of many
several industries such as electronics, automotive and electrical has the
largest market growth. In APAC countries like India, China and South Korea are
the largest manufactures of electronics like smartphones laptops televisions. With
the implementation of Industry 4.0 and 5G North America is a fast growing
market region for the industrial network market during the forecast period of
2023-2030 at 9.6%.
Industrial
Network Market Drivers
Growing demand to improve the
network infrastructure
With growing technology evolution, the
adoption of sensor-based industrial devices including industrial internet of
things (IIOT) across industries has increased drastically. The industrial
network comprises of different components like routers switches connection
devices. These components offer higher speed and has an ability of connecting
more nodes across the network.
Migration shift towards Adaptation of wireless
technologies in the facilities
Wireless technologies have posted impressive
growth rates of 23% or more in each of the past three years, although they
still represent a relatively small portion of the overall market of newly
installed nodes. The development of wireless technologies and the easy
availability of the equipment are some major factors that will be boosting the
market. This facilitates efficient networking of different application areas
such as production and office. These extensive functional capabilities are
boosting the growing market demand for industrial network.
Industrial
Network Market
Challenges
Security concerns
on cloud
Data security and data migration are the main
challenges in hampering market growth. The detection of the loopholes and
handling them before the data breach occur is another major challenge. With the
rapid growth of industrial network nodes deployed at the field level, possible
sensitive/confidential information will need to be protected with network-level
authentication, such as with VPN (a virtual private network) and firewalls, to
prevent unauthorized access to a network. The lack of standardization in the
communicating interface may results in misreading and can cause data loss and
loss in other type of data loss related to the facility.
Industrial
Network Market Landscape
Product launches,
acquisitions, and R&D activities are key strategies adopted by players in
the industrial network market. The offshore wind energy market is dominated by
major companies such Huawei Technologies Co. Ltd., Cisco System Inc., Belden
Inc., Moxa Inc., Rockwell Automation Inc., Juniper Networks Inc., Sierra
Wireless, Belden Incorporated, Eaton Corporation Inc., and Aruba Networks.
Acquisitions/Technology
Launches/Partnerships
- In
April 2020, ZTE Corporation deployed the core router single servers and network
clusters for China Telecom in Jinzhou, Liaoning province, and Ganzhou, Jiangxi
province, despite the trouble in transportation, supplies, and dispatching
brought by the COVID -19 outbreak.
- In
April 2020, Cisco announced the intent to acquire privately-held Fluid mesh
Networks, a provider wireless backhaul system.
Related Reports
Report Code: ESR 99123
Report Code: ITR 0309
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