According to a new report, published by KBV research, The Global Industrial Networking Solutions (INS) Market size is expected to reach $101.2 billion by 2030, rising at a market growth of 19.7% CAGR during the forecast period.
The Technology segment is anticipating a CAGR of 19.1% during (2023 - 2030). Industrial wireless technologies facilitate communication in environments where wired connections are challenging or impractical. This includes Wi-Fi, Zigbee, WirelessHART, and LoRaWAN, providing wireless connectivity for devices, sensors, and controllers in industrial settings. The integration of 5G technology is gaining prominence in the INS, offering ultra-reliable, low-latency communication. 5G enables high-speed wireless connectivity, supporting real-time monitoring, remote control, and augmented reality (AR) applications in industrial environments.
The Discrete segment is leading the Global Industrial Networking Solutions (INS) Market by Industry in 2022; thereby, achieving a market value of $63.5 billion by 2030. Discrete manufacturers use industrial networking solutions for quality control and inspection processes. Integration with sensors and cameras allows for real-time inspection of products, ensuring adherence to quality standards and minimizing defects. Industrial networking solutions support implementing flexible manufacturing systems (FMS) in discrete industries. These systems enable rapid reconfiguration of production lines, allowing manufacturers to adapt to changing product requirements and production schedules.
The Predictive Maintenance segment would showcase a CAGR of 13.6% during (2023 - 2030). Predictive maintenance can help organizations save costs by reducing unplanned downtime, minimizing the need for emergency repairs, and extending the life of equipment. This can result in significant cost savings over time. In some industries, such as healthcare and aerospace, regulatory requirements mandate the use of predictive maintenance to ensure the safety and reliability of equipment. Industrial networking solutions can help organizations meet these compliance requirements.
Full Report: https://www.kbvresearch.com/industrial-networking-solutions-market/
The North America region dominated the Global Industrial Networking Solutions (INS) Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $34.08 billion by 2030. The Europe region is experiencing a CAGR of 19.3% during (2023-2030). Additionally, The Asia Pacific region would exhibit a CAGR of 20.5% during (2023 - 2030).
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