Europe Industrial Networking Solution Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 150 | Report Code: BMIRE00032115 | Category: Electronics and Semiconductor
No. of Pages: 150 | Report Code: BMIRE00032115 | Category: Electronics and Semiconductor
The Europe industrial networking solution market size is expected to reach US$ 35,347.37 million by 2031 from US$ 7,263.40 million in 2023. The market is estimated to record a CAGR of 21.9% from 2023 to 2031.
Key market participants in Europe are focusing on product development, mergers, acquisitions, and strategic initiatives. For instance, in July 2022, RS Components formed a strategic partnership with HMS Networks to enhance its range of industrial equipment networking solutions. The collaboration aims to broaden the selection of networking solutions available to customers, enabling them to connect and integrate their industrial equipment more effectively. In April 2023, Deutsche Telekom (DT) launched a new campus network solution with an industrial 5G spectrum, providing business customers with the benefits of a private 5G network without the requirement for additional investments in their infrastructure. The solution, Campus Network M with Industrial Frequencies, allows companies to exclusively utilize their 5G industrial frequencies in the 3.7–3.8 GHz range. This launch followed successful tests conducted in the 5G campus network of injection molding machine manufacturer Arburg in January 2023. The commercial launch of the solution allows companies to benefit from the exclusivity of the local 5G spectrum in the 3.7–3.8 GHz range without the need for additional infrastructure investments.
In February 2024, Sweden-based Westermo launched a new range of compact, easy-to-use, unmanaged industrial Ethernet switches: the SandCat five-port fast Ethernet switch series. It offers a cost-effective, plug-and-play solution for industrial applications that complements the company's current range of managed switches. Supporting 100 Mbit/s, these versatile devices have been designed to meet the growing network complexity, reliability, and bandwidth demands of utilities, marine, manufacturing, and energy industries. Such advancements are expected to boost the growth of the industrial networking solutions market in Europe during the forecast period.
Key segments that contributed to the derivation of the Europe industrial networking solution market analysis are component, deployment, connectivity, and end-use industry.
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 coverage without extensive infrastructure modifications. This trend allows organizations to futureproof their network infrastructure and prepare for advancements in wireless technology. Ultimately, the adoption of wireless technologies in industrial operations is revolutionizing the design and deployment of industrial networks, providing greater flexibility, mobility, scalability, and futureproofing capabilities. This enables organizations to enhance productivity, improve operational efficiency, and meet the growing needs of the industrial landscape, further boosting the industrial networking solutions market growth. Such developments are boosting the industrial networking solutions market growth.
Based on country, the Europe industrial networking solution market comprises Germany, the UK, France, Italy, Russia, and the Rest of Europe. Germany held the largest share in 2023.
Industrial networking solutions offer industry-leading products, technical support, and on-site services for wired and wireless machine networking applications. According to the country's digital industry association "Bitkom," faster digitalization can get Germany closer to 2030 climate targets. Digitalization can induce over 24.0% of the emission reduction that Germany needs to reach its 2030 greenhouse gas target. The above analysis examined the potential for digitalization in energy, industry, transportation, buildings, and agriculture. The analysis also discovered that the energy and building industries had the most potential for leveraging digital technology in the battle against climate change. Smart power grids and smart management of renewable energy generation are two crucial applications in the energy sector. Thus, with the increasing focus on digitization, the demand for industrial networking solutions is expected to increase in Germany during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 7,263.40 Million |
| Market Size by 2031 | US$ 35,347.37 Million |
| CAGR (2023 - 2031) | 21.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Europe
|
| 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 Europe Industrial Networking Solution Market is valued at US$ 7,263.40 Million in 2023, it is projected to reach US$ 35,347.37 Million by 2031.
As per our report Europe Industrial Networking Solution Market, the market size is valued at US$ 7,263.40 Million in 2023, projecting it to reach US$ 35,347.37 Million by 2031. This translates to a CAGR of approximately 21.9% during the forecast period.
The Europe 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 Europe Industrial Networking Solution Market report:
The Europe Industrial Networking Solution Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Industrial Networking Solution Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Industrial Networking Solution Market value chain can benefit from the information contained in a comprehensive market report.
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