.png)
2 hours ago
US & Canada, Oct. 17, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global Industrial Networking Solutions market is observing significant growth owing to the growth of the Industrial Internet of Things (IIoT). As more industrial devices and equipment become connected, there is a growing need for robust networking solutions that can support the ever-increasing number of connected devices, handle the massive amounts of data generated, and ensure secure and reliable communication. Browse Detailed Insights: https://www.theinsightpartners.com/reports/industrial-networking-solution-market
The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the industrial networking solutions market comprises a vast array of hardware and software which are expected to register strength during the coming years.
Global Industrial Networking Solutions Market experiences growth due to increasing adoption of wireless technologies.
Download Sample Report: https://www.theinsightpartners.com/sample/TIPRE00010827/
Overview of Report Findings:
1. Market Growth: The global industrial networking solutions market size was valued at US$ 29.45 billion in 2023 and is projected to reach US$ 137.70 billion by 2031; it is expected to register a CAGR of 21.3% during 2023–2031. The global industrial networking solutions market is observing substantial growth and is expected to maintain its upward trajectory in the foreseeable future. This growth can be accredited to numerous factors. Firstly, there is a rising demand for wireless technologies in industrial settings. Industries are increasingly adopting wireless solutions to enhance flexibility, mobility, and scalability in their networks. Furthermore, the need for predictive maintenance is driving the adoption of industrial networking solutions among numerous industries.
2. Technological Innovations: Industry 4.0 is the result of the digital transformation in numerous industries, bringing real-time decision-making, increased productivity, flexibility, and agility to alter the business's operations. Industry 4.0 allows stakeholders to optimize facilities and increase efficiency by leveraging interconnected industrial equipment and advanced computation. The Fourth Industrial Revolution refers to the rapid transformation of 21st-century technology, industries, societal patterns, and procedures as a result of interconnectedness and intelligent automation.
Identify The Key Trends Affecting This Market - Download Sample PDF: https://www.theinsightpartners.com/sample/TIPRE00010827/
3. Rising Need for Predictive Maintenance: The increasing need for predictive maintenance is a key factor contributing to the growing industrial networking solutions market size. Industrial networking solutions offer the capability to monitor operations in real-time and predict maintenance requirements, enabling organizations to optimize their maintenance activities and minimize downtime. By utilizing technologies such as the Industrial Internet of Things (IIoT) and advanced analytics, organizations can proactively identify potential equipment failures before they happen. This enables planned repairs and reduces the occurrence of unexpected breakdowns, ultimately leading to enhanced operational efficiency and cost savings. The adoption of industrial networking solutions facilitates seamless connectivity and empowers organizations to make informed decisions based on data for optimal maintenance optimization.
4. Increasing Adoption of Wireless Technologies: There is a growing utilization of wireless technologies in industrial operations, driven by the demand for flexibility, mobility, and scalability in industrial networks. Wireless networks offer advantages such as easy reconfiguration, adaptability to changing environments, seamless connectivity on the go, and the ability to add new devices and expand network ...
