The global industrial network solutions market was worth USD 20.99 billion in 2023. The global market size is predicted to reach USD 25.40 billion in 2024 and USD 116.71 billion by 2032, growing at a CAGR of 21% during the forecast period.
The backbone of any automation system architecture, an industrial network solution provides a powerful means of data exchange, control, and flexibility to connect to various devices. Unlike traditional communication networks, these solutions require wired and wireless network systems and are used in product distribution, technical support, and IT services. An industrial network solution is an essential part of any automation system architecture, as it is committed to providing efficient means of data exchange and controllability and data flexibility to connect multiple devices. In general, communication networks are used to allow data communication between computers and other devices. These networks are used to distribute various products and provide technical support, which must be wired and wireless network systems. The industrial ecosystem is moving away from fieldbus technologies based on proprietary networks to communication protocols over standard networks such as Ethernet, 802.11 Wi-Fi, and the IP wallet protocols (for example, TCP and UDP). This focus on open network standards is a fundamental aspect for the devices that make up the industrial ecosystem to communicate through converged public networks, which greatly improves the accessibility of data and information.
The need for state-of-the-art industrial networks has not only led to the use of networks. Still, the use of network services and an increased need for support drive the global market for industrial network solutions.
Manufacturing is subject to improvement and optimization programs throughout the life cycle of the products manufactured. The tendency is that process improvements need to be made quite frequently and almost continuously in some cases. More and more IIoT sensors are added to existing operations for more efficient process improvement. For example, the United States Food and Drug Administration (FDA) has urged manufacturers to take a risk-based approach to meeting regulatory and product quality requirements through drug screening technology—process (PAT). A fundamental element of PAT is the continuous online monitoring of the process dedicated to transforming raw materials into finished products. This monitoring technique requires additional instruments and sensors for the process, and the new sensors will require industrial networks to communicate with the control systems.
In today's digital manufacturing environments, there are too many sensors and devices and too much data to rely on manual processes. There is a growing need for manufacturing organizations to automate the monitoring of plant-wide systems and their responses to abnormal conditions, such as equipment showing signs of stress. As most industrial operations take place over a long period, sensors must be adapted to existing machines, which can be done efficiently with wireless communication technologies.
Mass customization in manufacturing has caused a radical change in assembly plants. Modern assembly lines and logistics must be agile and flexible to handle required product variability without compromising quality. To support flexible manufacturing, the network must be able to dynamically self-configure. Machine maintenance should be performed during scheduled downtime to maintain the highest production level in manufacturing. This is effective when machines can predict when and where failures are about to occur and then be repaired. This collected data must be communicated over several industrial networks for analysis purposes to be used for machine learning and driving business intelligence.
In June 2020, Veracity Industrial Networks, developer of Industrial Software Defined Network (SDN) technology for operational networks, announced a new round of seed funding, supported by existing investors Schweitzer Engineering Laboratories (SEL) and Option3Ventures, along with the latest strategy of DYNICS, Inc. and Interstates, Inc.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
21% |
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Segments Covered |
By Component, Organization Size, Network Type, Application, Vertical Industry, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Huawei Technologies Co. Ltd., Cisco System Inc., Belden Inc., Moxa Inc., Rockwell Automation Inc., Juniper Networks Inc., Sierra Wireless, Eaton Corporation Inc., Aruba Networks, and Others. |
In terms of components, it is divided into solutions and services.
Depending on the organization's size, it is segmented into large companies and small and medium enterprises.
The type of network is divided into wired networks and wireless networks.
It is categorized by application into remote monitoring, asset tracking and management, supply chain management, real-time streaming and video, emergency and incident management, and predictive maintenance.
The industrial network solutions market is categorized by industry vertical into BFSI, Retail and e-commerce, Manufacturing, Government and defence, Energy and utilities, IT and telecommunications, Education, Health, and others.
The North American region dominated the market with significant growth due to advancements in technologies, the adoption of Industry 4.0, and the integration of IoT solutions in the global industrial networking solutions market.
The major players operating in the global industrial networking solutions market include
By Component
By Organization Size
By Network Type
By Application
By Vertical Industry
By Region
Frequently Asked Questions
Industrial networking solutions enable seamless connectivity between various industrial devices, machines, and control systems, leading to improved operational efficiency, reduced downtime, predictive maintenance capabilities, and enhanced productivity through data-driven insights and analytics.
Industrial networking solutions form the backbone of smart factories by enabling seamless connectivity and communication among interconnected devices, sensors, and control systems. They facilitate real-time data exchange, process optimization, and predictive maintenance, leading to enhanced efficiency, flexibility, and responsiveness in manufacturing operations.
Emerging trends in the industrial networking solutions market include the adoption of edge computing for real-time data processing and analysis, the integration of artificial intelligence and machine learning algorithms for predictive maintenance and anomaly detection, and the proliferation of wireless communication technologies such as 5G for ultra-reliable low-latency communication (URLLC) in industrial settings.
Industrial networking solutions support interoperability and standardization through the adoption of open communication protocols, such as OPC UA (Unified Architecture), and industry-specific standards like ISA-95 and IEC 61499. These standards ensure seamless integration and communication between heterogeneous devices and systems, fostering interoperability and compatibility across different vendors and platforms in industrial automation ecosystems.
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