Global industrial routers market was valued at US$ 861.7 million in 2017 and is projected to reach US$ 1,689.6 million in market revenue by 2025
Global industrial routers market was valued at US$ 861.7 million in 2017 and is projected to reach US$ 1,689.6 million by 2025, according to a new market research report Global Industrial Routers Market Report, by Product Type (Wired & Wireless), by End Users (Railways, Oil & Gas, Maritime & Offshore, Water & Wastewater Treatment, Road Infrastructure, Energy, Manufacturing & Processing Industry, and Others) and by Geography.
Integration of IoT technology in various sectors such as manufacturing, aids in analysis of real- time data and autonomous decision-making, in turn increasing overall productivity. Therefore, increasing adoption of IoT is one of the major factor driving growth of the industrial routers market. For instance, according to Coherent Market Insights, in 2016, around 2,418.7 million units of IoT devices were deployed across businesses and it is projected to reach to around 7,552.4 million units by 2020. Hence, increasing adoption of internet connected devices in various industries have accelerated demand for industrial routers worldwide.
Key Trends and Analysis of Industrial Routers Market:
- On the basis of product type, the wireless segment is expected to grow with the highest CAGR of 9.2% over the forecast period. Wireless industrial routers provide various advantages such as cost effectiveness, easy installation, and mobility, which increases its adoption by various industries. Increasing adoption of advance technologies such as Internet of Things and M2M communication technology, in order to increase productivity, reduce maintenance cost, generate real-time data, and remote monitor have accelerated demand for wireless industrial routers in various industries such as manufacturing.
- On the basis of end user, manufacturing and processing segment is expected to grow with the highest CAGR with 9.3% over the forecast period. Increasing adoption of Internet of Things technology in the manufacturing industry is propelling demand for industrial routers. Increasing integration of IoT technology helps machines and devices to analyze data in real time. This helps machines to make autonomous decisions in real-time, thus increasing the overall productivity. Moreover, increasing adoption of machine to machine communication in various manufacturing industries helps to reduce maintenance costs and improve production efficiency. This in turn, is boosting the demand for machine to machine technology, in turn fueling demand for industrial routers in this segment.
Key Takeaways of the Market:
- The Asia Pacific region is expected to grow with the highest CAGR of 9.4% over the forecast period. Increasing automotive production, semi-conductor devices production, and steel manufacturing in Asia Pacific is expected to lead to increasing adoption of wired industrial routers over the forecast period. According to Coherent Market Insights’ analysis, in 2016, China, Japan, and South Korea accounted for around 44% share of the global vehicle production. Industrial routers are compact and rugged in design, which makes it ideal for use in vehicles such as buses, ambulances, emergency vehicles, cars, trucks, and taxis for delivering applications such as IP-CCTV, telemetry, fleet tracking services, passenger WiFi internet access, and mobile digital signage. This is expected to aid in growth of the market over the forecast period.
The major players operating in the global Industrial routers market include Juniper Networks, Inc., Netgear Inc., ZTE Corporation, Cisco Systems, Inc., Inseego Corporation, Dell Technologies, Inc., Micromax Technology, Ericsson, Inc., TP-Link Technologies Co., Ltd, Alcatel-Lucent Enterprises, Huawei Technologies Co., Ltd., and Advantech Co., Ltd
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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