According to a new report, published by KBV research, The Global Serial Device Server Market size is expected to reach $402.9 million by 2031, rising at a market growth of 4.8% CAGR during the forecast period.
The expansion of industrial sectors in emerging markets, particularly in Asia and Latin America, is fuelling the demand for serial device servers. As these regions industrialize, efficient communication between devices becomes critical, presenting significant growth opportunities for manufacturers. Companies are increasingly prioritizing sustainability in their operations.
The External segment captured the maximum revenue in the Global Serial Device Server Market by Type in 2023, thereby, achieving a market value of $220 million by 2031. The external serial device servers segment emerged as the leader in terms of revenue share. This significant market position can be attributed to the versatility and ease of deployment of external serial device servers. These devices are often preferred when connecting multiple serial devices to a network without extensive system modifications.
The Point-of-Sale (POS) Systems segment is experiencing a CAGR of 3.9 % during the forecast period. The integration of POS systems with e-commerce platforms is essential for creating a seamless omni-channel experience. Retailers can synchronize inventory and sales data across both physical and online stores, leading to improved customer satisfaction and operational efficiency.
The Multi-Port segment led the maximum revenue in the Global Serial Device Server Market by Port in 2023, thereby, achieving a market value of $243.9 million by 2031. The substantial market presence of this segment highlights the growing demand for more complex and scalable connectivity solutions. Multi-port serial device servers are essential in environments where multiple serial devices must simultaneously connect to a network.
The Industrial segment is growing at a CAGR of 3.8 % during the forecast period. The industrial sector’s dominance is primarily due to the extensive need for reliable and efficient serial communication solutions in manufacturing processes, automation systems, and machinery control. Serial device servers in this segment facilitate seamless connectivity and data exchange between industrial equipment and control systems, enhancing operational efficiency and productivity.
Full Report: https://www.kbvresearch.com/serial-device-server-market/
The North America region dominated the Global Serial Device Server Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $140 million by 2031. The Europe region is anticipated to grow at a CAGR of 4.5% during (2024 - 2031). Additionally, The Asia Pacific region would witness CAGR of 5.4% during (2024 - 2031).
By Type
By Application
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By End User
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