The prevailing criticism among potential customers is undoubtedly that many market share experiences are overly simplistic? Companies often limit their customers to a single product choice, rather than offering multiple alternatives. What prospects typically desire is a comprehensive snapshot that captures the market share dynamics of vendors offering a range of premium features.
In 2020, Omdia was formed through the merger of four companies: IHS Markit, Tractica, Ovum, and Heavy Reading. 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, Elements & Units, Media & Leisure and Authorities & Manufacturing.
According to Omdia’s latest report, a comprehensive analysis is provided for the $4.3 billion market, covering more than 25 countries and 19 industries. Below are some key highlights:
Digital transformation, automation, and sustainability – the trifecta of innovation.
Unsurprisingly, the report emphasizes digital transformation as a key catalyst driving the market’s growth. According to Omdia, more than seven out of ten companies have already implemented digital projects, while the remaining fraction is currently exploring their feasibility through pilot programs. Boosting productivity and optimizing vitality management and costs are pressing priorities.
Global labour shortages continue to beset the market, prompting investors to pour resources into increasingly sophisticated automation technologies. As industrial networks increasingly require additional automation, monitoring capabilities are also being enhanced to support predictive maintenance, remote monitoring, and repair; this trend aligns with Cisco’s findings, which identify a shortage of skilled workers as the primary external barrier to growth in the industry.
The report also highlighted sustainability as a secondary dividend of digitalization, noting a significant uptick in government funding dedicated to this critical area.
Cybersecurity has become a pressing concern.
Global concerns about OT cybersecurity persist, arising from the rapid proliferation of outdated industrial control systems and inadequate cyber security measures that create unforeseen vulnerabilities. With ransomware attacks growing in both frequency and value, hackers are taking notice. According to Omdia’s Safety Breaches Tracker for the first quarter of 2024, the incidence of safety breaches surged by more than 30% between 2022 and 2023. Cybersecurity threats have emerged as the foremost obstacle to growth and the primary concern for buyers, posing a significant barrier to innovation within
As a direct result of the pressing need for enhanced community security, the report highlights the growing demand for managed switches. It specifically noted that cybersecurity regulations “may result in shorter lifespans for some tools, unable to accommodate the accelerated pace of change in IT and consumer products.” Many organizations prioritize gaining comprehensive understanding and visibility into their networks as the first step towards identifying vulnerabilities and enhancing overall cybersecurity posture.
Recently, Forrester released a comprehensive report on operational technology (OT) safety, titled “The State of OT Safety”.
With a commanding lead in the market, Cisco remains the dominant force.
Cisco’s 2023 market share in the industrial edge sector saw a significant surge of 7% compared to 2022, reaching a total market share of 26%. Significantly surpassing its nearest rival by a substantial 10%. While acknowledging Omdia’s data, one cannot help but feel shameless? What potential clients often express to us is that, alongside excellent core switching, routing, and Wi-Fi products, Cisco’s solutions portfolio offers a number of critical requirements that are becoming increasingly important. Embedded cybersecurity safeguards ensure robust protection, while advanced remote access capabilities enable seamless IT/OT integration through intelligent tools that accelerate the convergence process on a foundation ready for artificial intelligence.
Developing a robust, expandable and artificial intelligence-forged industrial foundation that prioritizes security, adaptability and long-term viability.
Globally, organizations are increasingly investing in their operational networks to bolster cybersecurity, streamline operations, and lay the groundwork for artificial intelligence implementations.
The report provides a comprehensive overview of how companies select their strategic partners across routing, switching, and wireless technologies, while considering factors such as security, automation, and AI. As a leader in enterprise and industrial networking, Cisco empowers businesses to successfully navigate today’s complex operational landscape through collaborative partnerships.
To all those who have supported us along the way, we extend our sincerest gratitude.
At Cisco, we prioritize a customer-centric approach in all aspects of our products, services, and support. We’re thrilled to receive this acknowledgment, which motivates us and reflects the trust our clients and partners have placed in us. To learn more about our offerings or arrange a consultation with our dedicated buyer team, simply
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