“They’re too one-dimensional.” That’s in all probability the one frequent critique I hear from prospects concerning most market share studies. They sometimes cowl one product, not options. Ideally, prospects want to see a wider lens view that measures vendor market share of extra full options.
That’s one of many causes I discover the brand new Omdia report so compelling. It measures distributors’ market share inclusive of your entire industrial edge – switching, routing and wi-fi – creating a novel and complete evaluation of the IIoT panorama.
For reference, Omdia was shaped in 2020 following the merger of IHS Markit, Tractica, Ovum and Heavy Studying. Omdia reaches over 4 million expertise determination makers, influencers and practitioners and has specialist analysis practices specializing in Enterprise IT, AI, Web of Issues, Communications Service Suppliers, Cybersecurity, Parts & Gadgets, Media & Leisure and Authorities & Manufacturing.
Omdia’s newest report, “Industrial Edge Networking Parts – 2024 Evaluation” offers an in depth evaluation of this $4.3B market, overlaying over 25 international locations and 19 industries. Listed below are just a few of the highlights.
Digitalization, automation and sustainability are key themes
Not surprisingly, the report highlights digital transformation as a core driver of the market. In response to Omdia, “over 70% of corporations have deployed digital initiatives, with the rest in proof-of-concept phases. The necessity to improve productiveness and enhance vitality administration and prices are high aims.”
International labor shortages proceed to plague the market, and prospects proceed to put money into extra automation. The report states “The push for extra automation, in addition to extra monitoring—for purposes similar to predictive upkeep, distant monitoring, and restore—all drive a rise in industrial networks.” This was in step with Cisco’s current 2024 State of Industrial Networking Report that cited scarcity of expert staff because the primary exterior impediment to development.
The report additionally cited sustainability as a secondary profit to digitalization and mentions the rising quantity of presidency funding on this necessary space.
Cybersecurity has change into a significant concern
OT cybersecurity continues to be a significant concern globally, as a excessive development in related legacy gadgets and lack of complete cyber safety has created important new assault vulnerabilities. This has not gone unnoticed by hackers, with the amount and worth of ransomware assaults hovering in recent times. In response to Omdia’s Safety Breaches Tracker 1Q24, breaches elevated by over 30% from 2022 to 2023. Cybersecurity dangers had been the highest buyer concern and the highest barrier to development within the 2024 State of Industrial Networking Report.
The report additionally factors to the expansion in managed switches being pushed by the necessity to enhance community safety. It said particularly that cybersecurity laws “could end in shorter lifespans for some tools as gadgets could not be capable to sustain with the extent of change extra frequent in IT and shopper merchandise.” Many operational networks are making certain full understanding and visibility of what’s related as a primary step to discovering vulnerabilities and enhancing cyber safety.
Just lately, the analyst agency Forrester launched a report on OT safety, titled “The Forrester Wave: Operational Know-how Safety Options, Q2 2024.” The report delves deep into OT safety calls for and contains vendor rankings
Cisco leads the market – by a large margin
Cisco’s 2023 market share within the Industrial Edge surged 7% from 2022 to 26%. 10% increased than the subsequent closest competitor. (See Determine 1) Shameless, I do know, nevertheless it’s Omdia’s findings. What I might say, and what we hear increasingly from prospects, is that together with nice core switching, routing and wi-fi merchandise, there are extra important necessities that Cisco delivers in its options strategy. Particularly embedded cyber safety safety, superior distant entry capabilities with instruments to speed up IT/OT convergence, and an AI-ready basis.
As well as, most corporations extremely worth our Cisco Validated Designs. This library of over 80 completely different technical blueprints and architectures are examined and confirmed throughout various industries, together with a variety of ecosystem companions. Please go to our CVD library to see what we’ve completed to your business.
Determine 1: 2023 Industrial Edge market share by vendor
Constructing a safe, scalable and AI prepared industrial basis
Organizations globally are rising investments in operational networks to enhance cybersecurity, standardize and simplify operations, and construct a basis for AI. This report offers a novel lens of how corporations are deciding on their strategic companions at present, throughout routing, switching and wi-fi, and with a thoughts in direction of safety, automation, and AI. Cisco is the market chief in each enterprise and industrial networking, and we look ahead to working with you that will help you navigate at present’s complicated operational panorama.
A “Thank You” to our prospects and companions
At Cisco, we proceed to take a customer-first strategy to our merchandise, providers, and help. We’re humbled and energized by this recognition and admire the belief our prospects and companions place in us. For extra details about our services or products, or to schedule a name with our buyer crew, please contact us.
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