The Global Industrial Multiprotocol Gateways Market generated revenue of around USD 269.99 million in 2021 and is anticipated to grow a CAGR of over 10.82% during the forecast period from 2021 to 2028 to reach around USD 587.54 million in 2028. While, cumulative growth opportunity presented by the global Industrial Multiprotocol Gateways is around USD 3.13 billion during 2022 to 2028.
Global Industrial Multiprotocol Gateways Market, 2021 – 2028 (USD Million)
The industrial protocol gateways market will experience rapid expansion over the next decade. Several factors will drive this. The most critical of these are advances in artificial intelligence, of which industrial multiprotocol gateways are a prime component. Hence, advancements in artificial intelligence and its latest trends and developments will have a far-reaching effect on the industrial multiprotocol gateways market.
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Multiprotocol Gateways for Process Industries to Grow at Rapid Pace
Process industries and Discrete industries are some of the important end-users of Industrial Multiprotocol Gateways used across different industries. However, Multiprotocol Gateways for process industries are growing in demand with rising demand. Process industries also held the largest share of over 55% of the total revenue generation in 2021.
Preventive Maintenance to Grow at Rapid Pace
Remote monitoring, Preventive maintenance and Product optimization are major applications for the global Industrial Multiprotocol Gateways industry. Remote monitoring held the largest share of over 40% in the total revenue garnered in 2021. This segment is also expected to keep it dominance over the forecast period. However, the market share is expected to witness slight decline over the analysis period. While, preventive maintenance segment is predicted to exhibit the rapid growth rate in the years to come.
North America is Leading Industrial Multiprotocol Gateways Demand
High speed of industrial automation in North America is major factor fueling the demand for Industrial Multiprotocol Gateways. U.S. has been remained most advanced industrial market with access to latest technologies coupled with high rate of early adoption to technology. Moreover, increasing industrial AI in U.S. and Canada is most important factor fueling the demand for Industrial Multiprotocol Gateways. While, Europe being second leading regional market for Industrial Multiprotocol Gateways, Asia Pacific is expected to advance at a rapid pace. Europe Industrial Multiprotocol Gateways is driven by the UK, France, Germany and Italy. While, growth in Asia Pacific is led by China, Singapore, Taiwan, Japan and South Korea.
Fairly Fragmented Market
ABB Group, Accton Technology, Advantech, Artila Electronics, ASUSTeK Computer Inc., Comptrol, Digi International, D-Link Global, Eaton, Elpro technologies, Emerson, Extreme Networks, hejm automation, HMS Networks, Honeywell, Lectronix Inc., Moxa Inc., Multi-Tech Systems, San Telequip Pvt. Ltd., Schneider electric, Siemens, Valmet and Wlink are some of the important players in global Industrial Multiprotocol Gateways market. Global Industrial Multiprotocol Gateways market is highly fragmented and characterized with presence of large number of players around the world. However, higher cost of Industrial Multiprotocol Gateways is likely to arrest the growth of Industrial Multiprotocol Gateways industry.
Market Segmentation
Global Industrial Multiprotocol Gateways Market by End-user, 2016 – 2028
- Process industries
- Discrete industries
Global Industrial Multiprotocol Gateways Market by Distribution Channel, 2016 – 2028
- Remote monitoring
- Preventive maintenance
- Product optimization
Global Industrial Multiprotocol Gateways Market by Company, 2016 – 2028
- ABB Group
- Accton Technology
- Advantech
- Artila Electronics
- ASUSTeK Computer Inc.
- Comptrol
- Digi International
- D-Link Global
- Eaton
- Elpro technologies
- Emerson
- Extreme Networks
- hejm automation
- HMS Networks
- Honeywell
- Lectronix Inc.
- Moxa Inc.
- Multi-Tech Systems
- San Telequip Pvt. Ltd.
- Schneider electric
- Siemens
- Valmet
- Wlink
- Others
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