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Industrial Networking Solutions Market Trends

Report ID: GMI8152
Published Date: Feb 2024
Report Format: PDF

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of industrial networking solutions reached USD 26.5 billion in 2023 and is set to witness 14% CAGR from 2024 to 2032, owing to increasing demand for security testing suites in industrial networks worldwide.

The hardware segment held over 40% share in 2023 due to increasing need for industrial ethernet switches to bolster operational resilience.

Asia Pacific market recorded over 35% revenue share in 2023, attributed to the continuous innovations in industrial automation, IoT, and wireless communication technologies in the region.

Belden Inc., Cisco Systems, Inc., Eaton Corporation, Emerson Electric Co., Honeywell International Inc., Huawei Technologies Co., Ltd., Mitsubishi Electric Corporation, Schneider Electric, and Siemens AG are some of the major industrial networking solutions companies worldwide.