Industrial Networking Solutions Market

1. Market Size & CAGR of Industrial Networking Solutions market in 2021

The global industrial networking solutions market is estimated to have a CAGR of 5.8% from 2021 to 2026, reaching a market size of USD 20.3 billion by the end of 2021.

2. COVID-19 Impact on the Industrial Networking Solutions Market

The COVID-19 pandemic has significantly affected the industrial networking solutions market due to disruptions in supply chains, delays in project implementations, and reduced investments in infrastructure.

However, the market has shown resilience with the adoption of remote monitoring solutions and increased focus on cybersecurity to ensure uninterrupted connectivity.

3. Industrial Networking Solutions Dynamics

The industrial networking solutions market is driven by the growing demand for smart manufacturing, Industry 4.0 initiatives, and the need for seamless connectivity between industrial devices.

Key players in the market are focusing on developing innovative solutions to cater to the evolving needs of industries and ensure efficient operations.

4. Segments and Related Analysis

4.1 Hardware

The hardware segment dominated the industrial networking solutions market in 2021, accounting for a significant market share. This is attributed to the widespread adoption of industrial switches, routers, and gateways.

4.2 Software

The software segment is expected to witness rapid growth in the coming years, driven by the increasing demand for network management software and security solutions.

5. By Region Analysis

5.1 North America

North America is the largest market for industrial networking solutions, with the United States leading in terms of adoption. The region is characterized by high investments in industrial automation and digital transformation.

5.2 Europe

Europe is experiencing substantial growth in the industrial networking solutions market, fueled by initiatives such as Made in China 2025 and the development of smart factories.

6. Key Market Players and Competitive Landscape

Key players in the industrial networking solutions market include Cisco Systems, Siemens AG, Rockwell Automation, Schneider Electric, and Mitsubishi Electric. These companies are investing in R&D to develop advanced networking solutions and maintain their competitive edge.

7. Recent Happenings in the Industrial Networking Solutions Market

• In April 2021, Cisco Systems announced the launch of a new industrial networking solution designed to enhance cybersecurity and connectivity in industrial environments.
• Schneider Electric partnered with IBM in June 2021 to offer integrated solutions for industrial networking, combining Schneider's expertise in automation with IBM's cloud and AI capabilities.