Industrial networking solutions are defined as an industrial network of interconnected objects, which is used to monitor and control physical equipment in industrial environments. These networks are different from the traditional enterprise networks in terms of specific operational requirements. Moreover, these industrial networking solutions offer a wide range of benefits, such as reduction in organizational expenditure and low-processing time to help the manufacturers maintain and configure factory floors.
The major factors that are expected to drive the growth of the Industrial Networking Solutions Market include rapid demand of Software Defined Wide Area Network (SDWAN) solutions, growth in need for predictive maintenance, proliferation of wireless technologies in industry operations, and advent of data analytics and data processing.
Services is one of the main components of the industrial networking solutions market. It is a key revenue generator for all the operators, averaging more than one half of the total revenue. Industrial networking services play an important role in ensuring the smooth functioning of wired and wireless network infrastructures in an organization. Moreover, industrial networking solutions offer a unique perspective by providing a strong industrial automation expertise. This balanced approach helps assess industrial IT assets, identify, and address the potential performance of the industrial networks and the associated security issues.
The Software Defined Wide Area Network (SDWAN) segment is expected to grow at the highest CAGR during the forecast period
SDWAN enables administrators to manage networks in more agile fashion by controlling them with software-defined functions. In addition, it provides a unified look of the network and offers a managed end-to-end solution that enables the scalability and stability of networks. Moreover, it provides an efficient and effective solution to design, deploy, and manage distributed networks in the present day’s complex and hybrid network environment. Furthermore, it is expected to transform the global network’s architecture of industries that enables manufacturers to configure the infrastructure as per their business requirements. Besides, it is instrumental in automating the bandwidth allotment.
The emergency and incident management segment is expected to be the fastest-growing application in the industrial networking solutions market 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. Manufacturing enterprises deal with complicated and heavy machinery, which leads to fatal incidents and raise emergencies on the floor. Hence, the manufacturing enterprises are searching for solutions that could resolve these issues and eventually increase the productivity. Moreover, these emergency and incident issues incur heavy costs for enterprises and are expected to be avoided by using various enhanced Internet of Things (IoT) solutions. Industrial networking solutions help the enterprises provide a fast and efficient response to such natural or man-made incidents. In addition, these solutions provide predictive intelligence and a real-time view of various incidents, events, and mitigation activities. Industrial Internet of Things (IIoT) offers solutions for the incident and emergency management, and the daily operations and crisis situations that integrate, correlate, and analyze the operational information.