North America Industrial Networking Solution Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The North America industrial networking solution market size is expected to reach US$ 35,187.21 million by 2031 from US$ 8,523.25 million in 2023. The market is estimated to record a CAGR of 19.4% from 2023 to 2031.

Executive Summary and North America Industrial Networking Solution Market Analysis:

The market in North America is witnessing substantial expansion. It holds a significant industrial networking solutions market share. It is poised to become a leading force in the global market. North America, notably the US, has been at the forefront of embracing cutting-edge technologies such as industrial automation, the Internet of Things (IoT), and Industry 4.0. As a result, there is a growing need for industrial networking solutions that facilitate seamless connectivity and data exchange within these advanced technological ecosystems. Prominent companies such as Cisco Systems Inc., Juniper Networks Inc., Rockwell Automation, Inc., and Sierra Wireless, Inc. play a significant role in driving innovation and growth in the North American market. These companies leverage their expertise to deliver robust networking solutions tailored to the specific requirements of industries in the region.

5G and Wi-Fi6/6E wireless technologies now enable standard, real-time communication in control operations, which was previously only possible via cable connectivity or bespoke wireless solutions. This opens up new opportunities for industrial automation and smart manufacturing processes in North America. The use of wireless technology in industrial automation systems has a number of possible benefits, ranging from the apparent cost savings caused by the elimination of wires to the availability of better plant information, increased productivity, and enhanced asset management. Thus, the adoption of wireless technologies in industrial automation in North America is expected to grow during the forecast period, supplementing the growth of the industrial networking solutions market.

North America Industrial Networking Solution Market Strategic Insights

Get more information on this report Request Free Sample PDF

North America Industrial Networking Solution Market Segmentation Analysis

Key segments that contributed to the derivation of the North America industrial networking solution market analysis are component, deployment, connectivity, and end-use industry.

• Based on component, the North America industrial networking solution market is bifurcated into hardware and software and services. The hardware held a larger share of the market in 2023.
• Based on deployment, the North America industrial networking solution market is bifurcated into on-premise and cloud. The on-premise held a larger share of the market in 2023.
• Based on connectivity, the North America industrial networking solution market is bifurcated into wired and wireless. The wired held a larger share of the market in 2023.
• Based on end-use industry, the North America industrial networking solution market is segmented into automotive, BFSI, manufacturing, telecommunication, logistics and transportation, and others. The manufacturing held the largest share of the market in 2023.

North America Industrial Networking Solution Market Outlook

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.

Industrial networking solutions are technologies and services that enable reliable and efficient communication and connectivity within industrial processes and operations. These solutions play a crucial role in optimizing industrial processes, improving efficiency, and enabling real-time monitoring and control. The increasing need for predictive maintenance in industrial settings is fueling the demand for industrial networking solutions. These solutions enable real-time monitoring, data collection, and analysis, allowing for proactive maintenance and minimizing downtime. Thus, rising need for industrial networking solutions is expected to boost the market growth.

North America Industrial Networking Solution Market Country Insights

Based on country, the North America industrial networking solution market comprises the US, Canada, and Mexico. The US held the largest share in 2023.

The landscape of the manufacturing sector of the US is transforming, boosted by the growing dependence on information and data for decision-making. The convergence of operational technology (OT) and information technology (IT) is expected to create opportunities for the US industrial networking solutions market during the forecast period. As OT and IT networks converge, OT cyberattacks become more common, posing major threats to manufacturing firms. Manufacturing networks and enterprise IT systems existed in separate domains from inception. The term OT is used to differentiate the systems and technologies used to control physical processes in industrial settings from the more traditional IT used in office environments. However, IT and OT have converged technically since the development of the Industrial Internet of Things (IIoT).
Key market participants in the region are focusing on technological advancements and product developments. For instance, in January 2022, Cisco announced the expansion of the Cisco Catalyst 9000 portfolio, based on the powerful Unified Access Data Plane (UADP) ASIC silicon, to bring more enterprise-grade switching capabilities to the industrial edge for industries operating in harsh environments and supporting critical infrastructure like utilities, oil and gas, roadways, and rail. Operational connectivity in industrial spaces is growing as organizations seek to improve efficiency, employee safety, business agility, and hybrid work support. As the operational world evolves, IT expertise is required to scale and secure the network as operational technology (OT) systems are brought onto the corporate networks.

North America Industrial Networking Solution Market Report Highlights

North America Industrial Networking Solution Market 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.

North America Industrial Networking Solution Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

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:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

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.

• Primary Research

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:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

North America Industrial Networking Solution Market Country and Regional Insights