The Industrial Multiprotocol Gateways Market is being driven by Growing prominence of IoT gateways
The Industrial Multiprotocol Gateways Market is expected to grow at a CAGR of 11.22% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 230.5 million. In the Industrial Multiprotocol Gateways Market, providers of chips and modules are responding to the growing need for flexibility in communication standards by offering System-On-Chip solutions that support multiple wireless protocols. These highly integrated devices can accommodate sub-gigahertz proprietary frequencies as well as standards-based protocols in the 2.4-GHz band. This allows manufacturers, particularly IoT developers, to create versatile devices suitable for various applications. Notable manufacturers, such as Texas Instruments, are introducing new System-On-Chip products, like the Sitara AMIC110, which simplifies industrial ethernet communication and supports over ten industrial Ethernet and Fieldbus communication standards, providing a ready-to-use, multiprotocol industrial communication processor solution.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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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 |
fragmentation |
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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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The Industrial Multiprotocol Gateways Market encompasses hardware solutions that enable seamless communication between industrial networks employing diverse protocols. These gateways support firmware updates, multi-protocol integration, and offer data visualization. Sensor integration, actuator control, wireless communication, and cellular connectivity are key features, along with cloud platform integration and data synchronization. Advanced tools include data analysis, alarm management, remote access, secure communication protocols, intrusion detection, and data integrity. Open source and proprietary protocols are catered to, along with maintenance contracts, technical support, training, documentation, deployment services, system configuration, and remote diagnostics.
The Industrial Multiprotocol Gateways market is a significant segment of the larger technology hardware, storage, and peripherals industry. This market specifically caters to protocol conversion, data aggregation, remote monitoring, device management, and industrial automation solutions. According to Technavio's market analysis, the global technology hardware, storage, and peripherals market size is determined by the revenue generated from the sales of hardware devices, equipment, and components. Key growth drivers for this market include the expanding demand for advanced data centers, fueled by the COVID-19 pandemic's impact on remote work and the subsequent need for cloud services and digitization. Companies are investing in upgrading their digital infrastructure to adapt to the new business environment, thereby boosting the demand for industrial multiprotocol gateways.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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