Industrial Network Market - Forecast (2024 - 2030)

Industrial Network Market Overview

Industrial Network Market is expected to reach $55.4 billion by 2030 at a CAGR of 10.5% during the forecast period 2023-2030. 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 2023-2030.?

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Report Coverage

The report: “Industrial Network Market– Forecast (2023-2030)”, by Industry ARC covers an in-depth analysis of the following segments of the Industrial Network market.

By Category?– Ethernet Network (Ethernet/IP, Profinet, EtherCAT, Modbus TCP, Powerlink and Others), Wireless Network (WLAN, Bluetooth and Others), Fieldbus Network (Profibus, Modbus RTU, CC-Link and Others).

By Product Type – Controller, Coupler, Remote Terminals, Code Readers, Routers and Switches, Other.

By End User – Automotive, Logistics and Transportation, Aerospace and Defense, Electronics & Semiconductor, Medical & Healthcare, Oil and Gas, Food & Beverage, Power, Water and Waste Water Treatment, Chemical, Pharmaceutical, Other.

By Geography - North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, South Korea and Others),?South America(Brazil, Argentina and others),?and RoW (Middle east and Africa).

Key Takeaways

• 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.

Industrial Network Market Segment Analysis –By Category

In the category segment the Ethernet network has the largest market at 67% in 2022, 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.

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 2023-2030 at 9.6%.

Industrial Networknbsp;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 23% 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.