Asia Pacific Industrial Networking Solution Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 150 | Report Code: BMIRE00032116 | Category: Electronics and Semiconductor
No. of Pages: 150 | Report Code: BMIRE00032116 | Category: Electronics and Semiconductor
The Asia Pacific industrial networking solution market size is expected to reach US$ 59,853.69 million by 2031 from US$ 11,543.20 million in 2023. The market is estimated to record a CAGR of 22.8% from 2023 to 2031.
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 fast transformation of 21st-century technologies, industries, and procedures brought about by interconnectedness and intelligent automation. It marks a new era in industrial progress, propelled by advancements equivalent to the first, second, and third industrial revolutions. Rapid breakthroughs in technology are transforming the manufacturing sector. Thus, the necessity for understanding and adopting advanced manufacturing techniques is becoming increasingly important. This, in turn, is expected to boost the industrial networking solutions market growth during the forecast period.
Industry 4.0 is widely adopted in the current business scenario in Asia Pacific. The region is a global manufacturing hub, accounting for significant global industrial production. More countries in the region are now building innovative manufacturing capabilities to help drive Industry 4.0. For instance, in China, the Industrial Internet is seen as an important tool for promoting technological developments and high-end production. According to the China Academy of Industrial Internet (CAII), China's Industrial Internet has achieved remarkable scale in recent years, reaching over US$ 167.7 billion in value in 2023. Further, Fiberroad Technology announced the launch of the Auto Pro series of industrial switches, which marks another milestone in automatization and professionalism achieved by Fiberroad Technology, providing superior automatic solutions for industrial management systems. The Department of Telecommunications (DoT), India, planned a new effort to help organizations and startups adopt innovative technology in the industry. It has called for a proposal for "Industry 4.0 a baseline Survey among MSMEs" that aligns with the larger objective of supporting digital transformation and preparing the industry for the advent of 5G and 6G technologies. Therefore, with the growing adoption of Industry 4.0, the industrial networking solutions market in Asia Pacific is expected to grow during the forecast period.
Key segments that contributed to the derivation of the Asia Pacific industrial networking solution market analysis are component, deployment, connectivity, and end-use industry.
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.
Based on country, the Asia Pacific industrial networking solution market comprises China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. China held the largest share in 2023.
China dominates the market in Asia Pacific, holding the largest industrial networking solutions market share. The increased adoption of wireless technologies and cloud services and heightened security concerns drive the demand for industrial networking solutions. Furthermore, the implementation of IIoT solutions is contributing positively to the market expansion in China. For instance, in March 2023, Huawei released the industry's first Lossless Industrial Optical Network solution based on Fifth-generation fixed network (F5G) technologies during the F5G Evolution, Unleashing Green Digital Productivity session at the Mobile World Congress 2023. This solution can help customers build highly reliable industrial networks in order to improve production quality and efficiency. In June 2023, ABB and China Telecom unveiled a joint digitalization and industrial IoT laboratory in Hangzhou, China. The collaboration between ABB Measurement and Analytics China Technology Center and China Telecom's Internet of Things subsidiary will focus on developing end-to-end industrial IoT solutions for industrial companies based in China. Such developments are anticipated to support the growth of the industrial networking solutions market in China during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 11,543.20 Million |
| Market Size by 2031 | US$ 59,853.69 Million |
| CAGR (2023 - 2031) | 22.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Asia Pacific
|
| Market leaders and key company profiles |
|
Some of the key players operating in the market include 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. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The Asia Pacific Industrial Networking Solution Market is valued at US$ 11,543.20 Million in 2023, it is projected to reach US$ 59,853.69 Million by 2031.
As per our report Asia Pacific Industrial Networking Solution Market, the market size is valued at US$ 11,543.20 Million in 2023, projecting it to reach US$ 59,853.69 Million by 2031. This translates to a CAGR of approximately 22.8% during the forecast period.
The Asia Pacific Industrial Networking Solution Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Industrial Networking Solution Market report:
The Asia Pacific Industrial Networking Solution Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Industrial Networking Solution Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Industrial Networking Solution Market value chain can benefit from the information contained in a comprehensive market report.
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