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Industrial Routers Market Segmented By Wired Industrial Routers and Wireless Industrial Routers with Enterprise Size in Small and Medium Enterprises (SMEs), Large Enterprises
Industrial Routers market is expected to grow at a CAGR of 9% during 2021-2031. Industrial routers aid in developing and speeding up the industrial connectivity. These routers are integrated with safety solutions in order to protect the infrastructure from the potential threats related to hacking.
The adoption of industrial routers offers enhanced productivity across the industry verticals while keeping the operational costs at a minimum. This is one of the major factors driving the adoption of industrial routers across different industry verticals.
Growing trend of high speed internet access, availability of smart phones, and economic affordability are majorly responsible for driving the demand for internet access, which is cumulatively driving the demand for industrial routers across the globe. Moreover, reduced technology cost per MB data, and lack of fixed line access in certain developing markets is further expected to drive the market growth.
Exponential rise in the adoption of the IoT enabled devices is another major factor driving the demand for industrial connectivity. The integration of IoT has created strong interconnectivity features across different industry verticals including the manufacturing sector. The deployment of industrial routers facilitates seamless connection across the industrial supply chain.
With the implementation of industrial routers, the equipment and machineries will be empowered to optimize processes with the help of real-time data and autonomous decisions, hence improving the overall productivity.
Moreover, benefits such as increased speed with minimal effort, the capability of improved decision making, and significant reduction in the harmful effects on the environment are further expected to increase the sales of industrial routers, during the forecast period.
The discrete industry verticals such as automotive, semiconductor, electric and electronic devices, and aviation, are focused on implementation of wired industrial routers. This increasing popularity of industrial routers in these sectors is one of the major contributors to the growth of industrial routers market.
Furthermore, the technological advancements in the discrete industrial sector are providing improved opportunities for industrial routers to penetrate across a wide range of industrial functions.
The major growth opportunities identified for the wireless router manufacturers happen to be the volatile growth of the internet industry coupled with the demand for adoption and mobility of connected and smart devices such as tablets, smartphones, all of which are responsible for driving the demand for the wireless industrial router.
Moreover, increase in the range of wireless networks, growing demand for faster internet, and the increasing number of connected devices is further fueling the growth, in the coming years.
US happens to be a dominant country in North America, contributing to nearly 75-80% of the market value. The growth in the US is attributed to the presence of major established players in the region. The industrial router providers in the US are carrying out different expansion and innovation strategies for increasing their market share in the industrial routers.
Key players are entering into partnerships with other major players to expand their geographic presence in order to meet the increasing demand for industrial routers.
Companies such as Juniper Networks, HPE, and Huawei Technologies have adopted such strategies to expand their customer base and enhance their product portfolio.
For instance. In March 2020, Juniper Networks completed the acquisition of 128 Technology, a Boston-based networking software startup, in order to boost its AI capabilities of the former company. This allows the customers of Juniper Networks to realign their network with the requirements of a digital future that includes mobility, cloud, and virtualization.
In terms of geography, European region accounted for the maximum market share in the year 2020 and is expected to continue its dominance over the forecast period. The European market for Internet of Things solutions is growing.
Germany, the United Kingdom, France, Italy, Spain and the Netherlands are leading the IoT adoption across Europe. Owing to this, there has been a substantial increase in the demand for industrial routers across the region. Europe region is anticipated to offer ample growth opportunities for major players in the market to capitalize on.
The growth is primarily attributed towards the rising demand for high speed internet connectivity across the industrial sector which is responsible for driving the growth. The vendors in the European market have been investing in industrial resources while focused on creating more robust and durable industrial routers.
This growing need of reliable and secured transfer of industrial data is expected to augment the growth of the industrial routers, over the forecast period.
Key players such as
are actively involved in offering industrial routers for various end user industries. These vendors have adopted various key strategies, to increase their customer base locally and globally.
They are also spending millions of dollars into product R&D to fulfill the unmet needs of their customers for industrial internet connectivity.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.