At 17.4% CAGR, the Middle East & Africa Industrial Networking Solution Market is Projected to be Worth US$ 5,145.20 Million by 2031, Says Business Market Insights

According to Business Market Insights research, the Middle East & Africa industrial networking solution market was valued at US$ 1,424.93 million in 2023 and is expected to reach US$ 5,145.20 million by 2031, registering a CAGR of 17.4% from 2023 to 2031. Increasing demand for SD-WAN solution and integration of industrial internet of things are among the critical factors attributed to the Middle East & Africa industrial networking solution market expansion.

Software-Defined Wide Area Networking (SD-WAN) solutions significantly shift the approach to data network problems, focusing on application performance, simplifying the management process, and eliminating limits imposed by using proprietary network equipment technologies. SD-WAN establishes a WAN transport agnostic overlay network that can replace legacy branch office routers, simplifying the WAN infrastructure. SD-WAN enables more control and management, giving application-layer control of application service policies and ensuring optimal application performance. SD-WAN is a groundbreaking solution that is reshaping how manufacturers manage and deploy their network infrastructure. As networking infrastructure expands in the hyper-connected world, the number of organizations seeking protection and management solutions for crucial Industrial Internet of Things (IIoT) devices is increasing. For instance, in August 2023, Fortinet announced the launch of new SD-WAN services to simplify operations and enhance the digital experience. Fortinet's new Overlay-as-a-Service for SD-WAN is purpose-built for lean organizations with limited technical expertise and budget constraints. This solution allows rapid deployment and seamless interconnection of locations quickly, eliminating the need for self-hosting or a dedicated hub. By adopting Overlay-as-a-Service, organizations with limited resources can benefit from an effective, secure networking solution without compromising performance or breaking their budget. Further, in November 2022, VMware, Inc. unveiled its next-generation SD-WAN solution, including a new SD-WAN Client, to help enterprises more securely, reliably, and optimally deliver applications, data, and services. Such developments are expected to increase the adoption of SD-WAN solutions in industrial networking environments during the forecast period.

On the contrary, high initial cost of industrial networking solutions hampers the growth of Middle East & Africa industrial networking solution market.

Based on component, the Middle East & Africa industrial networking solution market is bifurcated into hardware and software and services. The hardware segment held 68.2% share of the Middle East & Africa industrial networking solution market in 2023, amassing US$ 971.19 million. It is projected to garner US$ 3,291.44 million by 2031 to expand at 16.5% CAGR during 2023-2031.

Based on deployment, the Middle East & Africa industrial networking solution market is bifurcated into on-premise and cloud. The on-premise segment held 68.9% share of the Middle East & Africa industrial networking solution market in 2023, amassing US$ 312.66 million. It is projected to garner US$ 1,215.00 million by 2031 to expand at 18.5% CAGR during 2023-2031.

Based on connectivity, the Middle East & Africa industrial networking solution market is segmented into wired and wireless. The wired segment held 67.0% share of the Middle East & Africa industrial networking solution market in 2023, amassing US$ 955.20 million. It is projected to garner US$ 3,373.42 million by 2031 to expand at 17.1% CAGR during 2023-2031.

Based on end-use industry, the Middle East & Africa industrial networking solution market is bifurcated into automotive, BFSI, manufacturing, telecommunication, logistics and transportation, and others. The manufacturing segment held 29.9% share of the Middle East & Africa industrial networking solution market in 2023, amassing US$ 425.55 million. It is projected to garner US$ 1,692.41 million by 2031 to expand at 18.8% CAGR during 2023-2031.

Based on country, the Middle East & Africa industrial networking solution market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Saudi Arabia held 37.8% share of Middle East & Africa industrial networking solution market in 2023, amassing US$ 538.58 million. It is projected to garner US$ 2,041.68 million by 2031 to expand at 18.1% CAGR during 2023-2031.

Key players operating in the industrial networking solution market are ABB Ltd; Belden Inc; Cisco Systems Inc; Hewlett Packard Enterprise Development LP; Huawei Technologies Co Ltd; Moxa Inc.; Nokia Corp; Rockwell Automation Inc; Semtech Corp; and Siemens AG, among others.

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