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The industrial multiprotocol gateways market size is forecast to increase by USD 230.5 million at a CAGR of 11.22% between 2023 and 2028.
The industrial multiprotocol gateways industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The remote monitoring segment is estimated to witness significant growth during the forecast period.
The market encompasses a range of technologies and applications that facilitate seamless communication and integration between various industrial systems. One significant segment of this market is remote monitoring, which involves the use of software applications to monitor and manage industrial processes from a distance. These applications enable real-time data collection and analysis from connected devices, such as sensors and machines, using technologies like cloud computing, the Internet of Things (IoT), and data analytics. By leveraging remote monitoring, businesses can optimize operational efficiency, improve industrial security, and enhance industrial automation. Industrial ethernet, Ethernet/IP, CAN bus, and serial communication are among the protocols used for connectivity solutions in this market.
OPC UA, protocol conversion, and data aggregation are essential components of these applications. Smart factories, building automation, energy management, and predictive maintenance are some of the key areas where remote monitoring is being adopted to drive cost optimization and improve performance. Edge Computing and machine-to-machine communication are also gaining traction in the market, enabling real-time data processing and analysis at the source. Overall, the remote monitoring segment is a crucial part of the industrial multiproprotocol gateways market, providing valuable insights and control for businesses in various industries.
The Remote monitoring segment was valued at USD 104.60 million in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 34% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America is witnessing substantial growth, driven by the increasing adoption of smart manufacturing and industrial automation technologies. These gateways serve as a vital link between disparate industrial protocols, ensuring seamless communication and interoperability among various devices and systems. The demand for Industrial Internet of Things (IIoT) solutions is a primary growth factor in the market. IIoT enables real-time data monitoring and analysis, which is essential for industrial organizations to enhance operational efficiency and productivity. Multiprotocol gateways play a pivotal role in enabling connectivity and data exchange between diverse devices and sensors, thereby facilitating the implementation of IIoT solutions.
Industrial automation systems, SCADA, and process control applications rely on various communication protocols such as OPC UA, Ethernet/IP, CAN Bus, and Serial Communication. Multiprotocol gateways support these protocols, enabling system integration and data aggregation. Furthermore, edge computing, cloud connectivity, and machine-to-machine communication are transforming industrial environments, requiring multiprotocol gateways for protocol conversion and data security. Building automation, energy management, and device management systems also leverage multiprotocol gateways for data logging, fault detection, and predictive maintenance. Cost optimization and operational efficiency are critical factors for industrial organizations. Multiprotocol gateways help reduce hardware and integration costs by enabling the use of existing devices and systems while ensuring secure data exchange.
Real-time data analytics and data analytics platforms rely on multiprotocol gateways for data acquisition and conversion, enhancing the value of industrial data. In conclusion, the market in North America is witnessing significant growth due to the increasing adoption of smart factories, digital transformation, and IIoT solutions. Multiprotocol gateways play a crucial role in enabling seamless communication and interoperability among various industrial systems and devices, ensuring operational efficiency and cost optimization.
The Industrial Multiprotocol Gateways Market is expanding with industrial multiprotocol gateways, IoT gateways, and protocol converters enabling seamless connectivity. Edge gateways and secure industrial gateways ensure robust data transfer, while AI-powered multiprotocol gateways and 5G-enabled gateways drive innovation. Cybersecurity-enhanced gateways protect sensitive systems, particularly in healthcare. IoT gateways for dental clinics, secure hospital equipment networking, diagnostic imaging system gateways, and orthodontic device connectivity solutions address niche needs. Multiprotocol gateways for medical IoT and edge computing gateways for hospitals enhance interoperability. Industrial multiprotocol gateways market trends highlight sustainable industrial gateway solutions and cloud-connected industrial gateways. The industrial multiprotocol gateways forecast underscores modular gateways for healthcare systems and industrial IoT gateways Europe, shaping future automation.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The industrial multiprotocol gateways market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the industrial multiprotocol gateways market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, industrial multiprotocol gateways market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
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The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is experiencing significant growth, driven by the increasing demand for data analysis tools in industrial settings. These gateways enable seamless communication between devices using different proprietary protocols, facilitating actuator control, remote access, and maintenance contracts. Data visualization and firmware updates are essential features for optimizing industrial processes and improving system configuration. Wireless communication and cellular connectivity are key trends in the market, enabling remote diagnostics and alarm management. Secure communication protocols and intrusion detection are crucial for ensuring data integrity in industrial networks. Sensor integration and deployment services are also important considerations for businesses seeking to leverage open source solutions and technical support.
Multi-protocol support and cloud platform integration are critical features for businesses looking to streamline their operations. Gateway hardware and training and documentation are also essential components of the market, ensuring efficient and effective implementation and management of these technologies. Data synchronization and technical support are vital for maintaining the reliability and performance of industrial multiprotocol gateways.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Industrial Multiprotocol Gateways Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
179 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.22% |
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Market growth 2024-2028 |
USD 230.5 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.8 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, and Rest of World (ROW) |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Market Segmentation by Technology
9 Market Segmentation by Protocol
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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