Industrial Networking Solutions Market Size - By Connectivity (Wired, Wireless), Industry (Manufacturing, Automotive, BFSI, Oil & Gas, Utilities, Transportation & Logistics, Water & Wastewater Management, Mining), Component, Application & Forecast, 2024 - 2032

Industrial Networking Solutions Market Size

Industrial Networking Solutions Market size was valued at USD 26.5 billion in 2023 and is estimated to register a CAGR of over 14% between 2024 and 2032. The increasing demand for security testing suites in industrial networks is propelling market growth. With rising concerns about cybersecurity threats, businesses are prioritizing the protection of their industrial systems. For instance, in October 2023, Siemens introduced a comprehensive security testing suite tailored for industrial networks, featuring an integrated software framework with a unified user interface.
 

This suite amalgamates various cybersecurity tools, providing a streamlined approach. It encompasses proven solutions for asset detection & identification, compliance assessments, malware detection, and vulnerability scanning. Security testing suites offer comprehensive solutions to detect and mitigate vulnerabilities, malware, and compliance issues. As a result, companies are investing in these solutions to safeguard their critical infrastructure, thereby fueling the market expansion.
 

The rising demand for operational efficiency is fueling the industrial network solutions market growth. These solutions enable real-time monitoring and control of industrial processes, allowing organizations to optimize resource utilization, minimize the downtime, and enhance productivity. By providing seamless connectivity and data exchange between various devices and systems, industrial network solutions empower businesses to streamline operations, improve decision-making processes, and achieve greater efficiency in their manufacturing, logistics, and other industrial processes.
 

The presence of legacy infrastructure poses significant challenges to the growth of the industrial networking solutions market. Many industrial facilities still rely on outdated equipment and systems that may not support modern networking technologies. Integrating these legacy systems with new industrial network solutions can be complex and costly, requiring careful planning and potentially extensive retrofitting. Furthermore, compatibility issues between legacy and modern systems may hinder seamless communication and interoperability, slowing down the adoption of industrial network solutions.
 

Industrial Networking Solutions Market Trends

Connectivity IP offerings tailored for industrial applications are fostering lucrative growth in the industrial network solutions industry. These solutions provide robust connectivity, enabling seamless communication and data exchange between industrial devices and systems. For instance, in January 2024, Ceva unveiled its latest RivieraWaves Wi-Fi 7 IP platform, enhancing its connectivity IP offerings for high-end consumer and industrial applications.
 

Leveraging IEEE 802.11be standard features, the platform delivers premium performance, cost-effectiveness, and power optimization. It targets integration into next-generation Wi-Fi Access Point (AP) and Station (STA) products, broadening Ceva's portfolio for advanced wireless connectivity solutions. By addressing the unique requirements of industrial environments, such as reliability, security, and interoperability, these offerings are boosting the industrial network solutions adoption.
 

The proliferation of 5G networks is spurring the industrial networking solutions market growth. 5G offers ultra-low latency, high bandwidth, and massive connectivity, making it ideal for supporting a wide range of industrial applications such as autonomous vehicles, remote monitoring, and Augmented Reality (AR). Industrial network solutions leveraging 5G technology enable real-time communication, enhance operational efficiency, and facilitate the deployment of advanced automation and IoT solutions, fueling market expansion and catering to the growing industrial connectivity needs.
 

Industrial Networking Solutions Market Analysis

Based on the component, the hardware segment held over 40% of the market share in 2023. The increasing need for industrial ethernet switches to bolster operational resilience is contributing to growth in the hardware segment of the market. These switches enable robust communication and data exchange in industrial environments, enhancing system reliability and uptime.
 

For instance, in April 2022, Moxa Inc., an expert in industrial communications and networking, unveiled its latest innovation: the EDS-4000/G4000 Series of industrial Ethernet switches. With a total of 68 models, this series is designed to empower Moxa's clients in constructing resilient industrial networks, ensuring readiness for future challenges in industrial environments. As businesses prioritize resilience to disruptions, the demand for reliable networking hardware, such as industrial Ethernet switches rises, propelling the hardware segment's expansion within the market.
 

Based on the industry, the manufacturing segment accounted for 34% of the industrial networking solutions market share in 2023. As manufacturing processes become increasingly automated and interconnected, there is a growing need for robust networking infrastructure to support data exchange, real-time monitoring, and control of industrial equipment and systems. The adoption of digital twin technology by an automotive manufacturer, which necessitated an overhaul of their existing network to handle the surge in data volume and ensure real-time analytics.
 

The manufacturer's upgrade to a more advanced industrial networking setup, equipped with high-performance Ethernet, edge computing, and secure connectivity, enabled the seamless integration of real-time data with virtual models. This integration allowed for immediate insights into production processes, predictive maintenance, and optimization strategies, showcasing the indispensable nature of sophisticated networking solutions in realizing the full potential of automation and digital transformation in manufacturing.
 

Asia Pacific industrial networking solutions market recorded around 35% of the revenue share in 2023, due to technological advancements and a robust industrial base. Continuous innovations in industrial automation, IoT, and wireless communication technologies will foster the demand for networking solutions. The region's diverse industrial sectors including manufacturing, oil & gas, automotive, and aerospace rely on these solutions to enhance operational efficiency and safety. Additionally, the adoption of Industry 4.0 principles amplifies the need for interconnected systems, further fueling market growth as industries embrace digital transformation initiatives to stay competitive and meet the evolving demands.
 

Industrial Networking Solutions Market Share

Siemens AG, Mitsubishi Electric Corporation and Emerson Electric Co. holds almost 30% of market share in industrial networking solutions industry, Siemens AG including industrial automation and digitalization, and has been a pioneer in industrial networking technologies. They provide a vast array of hardware and software solutions designed to enable smart manufacturing and Industry 4.0 initiatives.
 

Mitsubishi Electric Corporation offers a wide variety of electrical and electronic equipment, including automation systems and components for manufacturing. Their industrial networking solutions are integral to various applications requiring precise control and data communication. Emerson provides solutions that integrate their process control systems, ensuring efficient data flow and real-time monitoring for industries.
 

Industrial Networking Solutions Market Companies

Major companies operating in the industrial networking solutions industry are:

• Advantech Co., Ltd.
• Belden Inc.
• Cisco Systems, Inc.
• Eaton Corporation
• Emerson Electric Co.
• Honeywell International Inc.
• Huawei Technologies Co., Ltd.
• Mitsubishi Electric Corporation
• Schneider Electric
• Siemens AG
   

Industrial Networking Solutions Industry News

• In January 2024, Versa Networks, a worldwide frontrunner in AI/ML-driven Unified Secure Access Service Edge (SASE), unveiled a new series of Unified SASE gateways. These gateways offer throughput exceeding 100 Gbps, aligning with the escalating demand for computational scale. This demand stems from the industry's intensified merging of networking and security functionalities.
   
• In March 2023, Digi International, a prominent global provider of IoT solutions, connectivity products, and an ST Authorized Partner, introduced the Digi ConnectCore MP13. This latest addition to its Digi ConnectCore MP1 family of System-on-Modules (SOMs) emphasizes longevity, scalability, and adaptability to meet the requirements of rigorous product lifecycles.
   

The industrial networking solutions market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Component

• Hardware
• Software
• Services

Market, By Connectivity

• Wired
• Wireless

Market, By Application

• Industrial Ethernet
• Fieldbus networks
• Industrial wireless
• Cloud & edge computing

Market, By Industry

• Manufacturing
• Automotive
• BFSI
• Oil & gas
• Utilities
• Transportation & logistics
• Water & wastewater management
• Mining
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Spain
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • South Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA