The industrial communication gateways market size has the potential to grow by USD 611.40 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by end-user (process industry and discrete industry) and geography (North America, APAC, Europe, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ABB Ltd., Advantech Co. Ltd., Artila Electronics Co. Ltd, Cisco Systems Inc., Emerson Electric Co., HMS Industrial Networks AB, Liebherr-International AG, MSA Safety Inc., Siemens AG, and SoftPLC Corp.
Market Overview
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Market Competitive Analysis
The market is fragmented with companies focusing on offering wireless gateways to cater to the evolving end-user requirements. ABB Ltd., Advantech Co. Ltd., and Artila Electronics Co. Ltd. are some of the major market participants. Although the growth in high-speed communication will offer immense growth opportunities, the time delays and difficulties in network diagnosis in gateways will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this industrial communication gateways market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this industrial communication gateways market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- ABB Ltd.
- Advantech Co. Ltd.
- Artila Electronics Co. Ltd
- Cisco Systems Inc.
- Emerson Electric Co.
- HMS Industrial Networks AB
- Liebherr-International AG
- MSA Safety Inc.
- Siemens AG
- SoftPLC Corp.
Industrial Communication Gateways Market: Segmentation by Geography
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APAC will offer several growth opportunities to market vendors during the forecast period. Factors such as the increase in automation, the growing use of renewables in the power sector, and the rising adoption of Industrial Ethernet-based gateways in the automotive sector will significantly drive industrial communication gateways market growth in this region over the forecast period.
38% of the market’s growth will originate from APAC during the forecast period. China is one of the key markets for industrial communication gateways in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Industrial Communication Gateways Market: Segmentation by End-user
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Factors such as the growing use of communication gateways in several process industries, for linking remote monitoring data with legacy systems of organizations, for ensuring effective communication will drive the growth of the industrial communication gateways market by the process industry segment. The report provides an accurate prediction of the contribution of the various products segments to the growth of the industrial communication gateways market size.
Market growth in the process industry segment will be slower than the growth of the market in the discrete industry segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial communication gateways market size.
Industrial Communication Gateways Market: Key Drivers and Trends
The improvement in high-speed communication is one of the primary factors driving the industrial communication gateways market growth. Due to the need for high data connectivity, communication protocols are evolving and enhancing with vast changes in network speeds. The use of high network devices has surged owing to the growing connectivity of more devices and the increasing use of automation. Also, due to the improvements in sensor technology, the availability of high data speed and strong network connectivity has increased. Sensors are more compact and reliable, owing to the evolving sensor technology. The adoption of highly flexible industrial communication cables has increased for wireless communication, in turn, driving the market’s growth.
The growing demand for industrial Ethernet gateways is one of the critical industrial communication gateways market trends. These gateways are being deployed for connecting large-scale distributed systems with remote monitoring and control centers. The popularity of these gateways is rising rapidly as they offer the flexibility of easy and cost-effective hardware integration along with versatility regarding adding new variable frequency drives (VFDs) to the existing systems. Consequently, the growth in high-speed communication coupled with the rising demand for industrial Ethernet gateways will lead the market to register a CAGR of about 11% during the forecast period.
Industrial Communication Gateways Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive industrial communication gateways market growth during the next five years
- Precise estimation of the industrial communication gateways market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the industrial communication gateways industry across North America, APAC, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of industrial communication gateways market vendors
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