An effort to build the global Covid-19 Analysis on Industrial Networking Solutions Market 2020 has been one of the decisive actions led by Market Research Future (MRFR). It divulges a thorough study on the market, portraying the estimated valuation of USD 24.82 billion by the end of the estimated period while astounding at a CAGR of 19.2% in the forecast period (2018–2023).
Growth in the concept of robotics and electrical engineering is estimated to spur the demand for courses on mechatronics and robotics. The market is anticipated to gain a CAGR of 15 % in the estimated period.
Cyber security market growth can be attributed to increasing focus on business continuity plans to provide optimized security for customer data and operations. Increasing focus on cyber security is a critical business imperative expected to further drive the market with a higher proportion for security policies and infrastructure.
Mechatronics is an interdisciplinary field of electrical, mechanical, control engineering, and embedded systems. Mechatronics works with applications of modern systems and control methods to practical situations. Some of the typical mechatronics systems include aircraft autopilot, cruise control, and anti-lock braking systems (ABS).
A growing importance for control & monitoring in process industries and the increasing demand for valve automation solutions are driving the growth of the industry. The valve positioners market is expected to grow from $1.7 billion in 2019 to $2.2 billion by 2024, at a compound annual growth rate (CAGR) of 5.3% during the forecast period.
Growth of the security control room market can be attributed to government initiatives, modernized policies, and regulations to increase public security and safety worldwide, as well as the increasing need to keep an eye on criminal activities and forecast natural disasters to avoid huge losses.
Industrial networking solutions is a necessity for enterprises across various industry verticals to create an end-to-end robust network architecture. The widely used technology for this robust, secured, and scalable network is the use of industrial Internet of Things (IIoT).
Market Research Future (MRFR)’s latest report indicates that the global Industrial Services Market Share is set to mark a CAGR of 5.9% during the forecast period 2020 to 2023. The valuation of the market is predicted to reach $35.71 Bn by the end of 2023. The increasing market presence of maintenance as a service is likely to fuel demand for industrial services over the next couple of years.