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Industrial Network Market Expected to Reach 69.9 Billion by 2026

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Increase in Number of Unmanned Machinery in the Facilities Has Also Given a Massive Boast to the Industrial Network Market

Industrial Network Market is expected to reach 69.9 billion by 2026 at a CAGR of 6.1% during the forecast period 2021-2026. 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 2021-2026.

Industrial Network Market Segment Analysis –By Category

In the category segment the Ethernet network has the largest market at 65% in 2020, 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.

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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 2021-2026 at 5.6%.

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 6.4% 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.

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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.

Key Takeaway

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.

Related Reports :

A. Industrial Ethernet Switch Market
https://www.industryarc.com/Research/Industrial-Ethernet-Switch-Market-Research-505826

B. Ethernet Powerlink Market
https://www.industryarc.com/Report/19411/ethernet-powerlink-market.html

For more Automation and Instrumentation Market reports, Please click here

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Source URL: https://marketersmedia.com/industrial-network-market-expected-to-reach-699-billion-by-2026/89036513

Source: MarketersMedia

Release ID: 89036513

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