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Industrial Networking Solutions Market worth $73.3 billion by 2028 - Exclusive Report by MarketsandMarkets™CHICAGO, Jan. 22, 2024 /PRNewswire/ -- The market for industrial networking solutions will see significant growth in the coming years due to important trends such edge computing adoption, 5G integration, industrial IoT development, cybersecurity emphasis, and AI and machine learning integration. In addition, there will be a focus on cloud integration, sustainable networking, and the use of robotics, augmented reality, and virtual reality to improve industrial processes. Global supply chain resilience and regulatory compliance will be given primary priority. Partnerships and collaborations are anticipated to be essential for fostering innovation and responding changing market conditions.  The Industrial Networking Solutions Market size is projected to grow from USD 29.2 billion in 2023 to USD 73.3 billion by 2028, at a CAGR of 20.2% during the forecast period, according to a new report by MarketsandMarkets™. The need for improved efficiency and reduced operational costs is driving the adoption of automation in various industries. Industrial networking solutions play a crucial role in connecting and coordinating automated systems and processes. Browse in-depth TOC on "Industrial Networking Solutions Market" 257 - Tables Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=263573485 Scope of the Report
Based on service, the network planning and optimization segment holds the largest market size during the forecast period Network planning and optimization helps enhance the performance of network infrastructure for the betterment of network availability and secured data flow. Network planning mainly deals with traffic forecasting and capacity planning to stabilize the network's performance. It also helps in developing network strategies and action plans to achieve business-specific goals and provide timely inputs during the designing and architecting phase of the network. In an industrial scenario, network planning needs to cater to a vast environment of multiple interconnected facilities. An industrial network plays a pivotal role in automating the system architecture, as it facilitates data exchange, data controllability, and flexibility to connect multiple devices. Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=263573485 Based on technology, the SD-WAN segment is expected to grow with the highest CAGR during the forecast period SDWAN is a replacement for traditional routers; it provides a dynamic and policy-based application path for business functions. SDWAN uses cloud-based software and technologies to enhance and optimize the delivery of WAN services to the remote offices of an enterprise. Moreover, SDWAN is an emerging technology that revolutionizes networking and makes it faster, more reliable, and more manageable. The technology enables administrators to manage networks more agilely by controlling them with software-defined functions. Moreover, it provides a unified look at the network and offers a managed end-to-end solution that enables the scalability and stability of networks. In addition, SDWAN also provides an efficient and effective solution for designing, deploying, and managing distributed networks in today's complex and hybrid network environment. Asia Pacific is expected to grow with the highest CAGR during the forecast period The Industrial Networking Solutions Market in the Asia Pacific region has undergone significant growth and evolution. The Industrial Networking Solutions Market in the Asia Pacific region is dynamically influenced by several key factors fuelled by automation, government support, and a thriving manufacturing sector. Technological advancements, including integrating the Industrial Internet of Things (IIoT), edge computing, and wireless communication, have played a pivotal role in enhancing connectivity and real-time monitoring in industrial settings. Government initiatives across the region have further accelerated digital transformation, smart manufacturing, and infrastructure development, contributing to the expansion of the market. Global and regional players offer a diverse range of products and services, addressing the unique needs of various industry verticals such as manufacturing, energy, transportation, and healthcare. Top Key Companies in Industrial Networking Solutions Market: The Industrial Networking Solutions Market comprises major providers, such as Cisco (US), Juniper Networks (US), Huawei (China), Dell Technologies (US), Rockwell Automation (US), Eaton (Ireland), Nokia (Finland), HPE (US), ABB (Switzerland), Belden (US), Siemens (Germany), Moxa (US), Red Lion Controls (US), Veryx Technologies (India), Litmus Automation (US), Celona (US), GE Digital (US), Kyland Technology (China), Graphiant (US), A5G Networks (US). To increase their market share in the industrial networking solutions industry, these competitors have used a variety of growth methods, including partnerships, agreements, collaborations, new product releases, product enhancements, and acquisitions. Recent Developments
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Report Objectives
Browse Adjacent Markets: Data Center and Networking Market Research Reports & Consulting Related Reports: Software Defined Networking Market - Global Forecast to 2028 Modular Data Center Market- Global Forecast to 2030 Data Center Transformation Market - Global Forecast to 2028 Green Data Center Market- Global Forecast to 2026 Data Center Power Market- Global Forecast to 2025 About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg
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