“Global Serial Device Server Market to reach a market value of 402.9 Million by 2031 growing at a CAGR of 4.8%”
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 North America region witnessed 36% revenue share in the serial device server market in 2023. This dominance can be attributed to several factors, including the high adoption rate of advanced technologies, a robust industrial sector, and the widespread implementation of IoT and automation solutions. North America’s well-established infrastructure and the strong presence of key market players further contribute to the region’s leadership in the serial device server market.
Remote monitoring solutions provide organizations real-time data and insights into equipment and system performance. These servers facilitate this process by connecting various devices and sensors to centralized monitoring systems, enabling proactive management and reducing response times to issues. This efficiency leads to minimized downtime and optimized operations. Thus, the growing demand for remote monitoring and management solutions drives the market's growth.
Additionally, Data centers are the backbone of the digital economy, hosting critical applications, data storage, and IT services. As businesses increasingly rely on cloud computing, big data analytics, and IoT (Internet of Things) technologies, the demand for robust IT infrastructure and data centers has surged. This growth influences various markets, including this market, as organizations seek reliable connectivity solutions to support their operations. Hence, rising demand for data centers and IT infrastructure drives the market's growth.
However, these servers require physical hardware components, which can be expensive. The cost of servers, connectors, cables, and other related equipment can accumulate quickly. These costs can escalate significantly for organizations looking to deploy multiple servers across various locations. Many servers come with proprietary software that requires licensing fees. Organizations must budget for these ongoing costs, which can add to the initial investment burden. Thus, high initial investment and installation costs hamper the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The illustration above shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
On the basis of port, this market is segmented into single-port serial device servers and multi-port serial device servers. The single-port serial device servers segment recorded 38% revenue share in the serial device server market in 2023. This performance can be attributed to the simplicity and cost-effectiveness of single-port solutions, which cater to applications requiring connectivity for individual or fewer serial devices.
Based on end user, this market is divided into industrial, retail, telecommunications, healthcare, energy and utilities, transportation, and others. The telecommunications segment procured 14% revenue share in this market in 2023. The critical need for reliable, high-speed communication infrastructure in the telecommunications industry drives this segment’s substantial market presence. Serial device servers facilitate managing and controlling various telecommunication equipment, including base stations, routers, and switches.
Based on application, this market is categorized into remote management, data acquisition, point-of-sale (POS) systems, and industrial control systems. In 2023, the remote management segment registered 26% revenue share in this market. The increasing need for effective and reliable management of networked devices across various industries largely drives this dominance. Remote management applications benefit greatly from serial device servers, enabling administrators to monitor, control, and configure equipment remotely, reducing downtime and maintenance costs.
Based on type, this market is divided into external serial device servers and embedded serial device servers. The embedded serial device servers segment held 43% revenue share in the serial device server market in 2023. This segment’s significant market presence underscores the increasing inclination toward integrating serial communication capabilities directly into devices and systems. Embedded serial device servers are typically favoured in applications where space constraints and the need for seamless integration are paramount.
Free Valuable Insights: Global Serial Device Server Market size to reach USD 402.9 Million by 2031
Region-wise, this market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 27% revenue share in this market. The rapid industrialization and urbanization in countries like China, India, Japan, and South Korea have significantly boosted the demand for advanced connectivity solutions, including serial device servers. The expansion of the manufacturing sector, coupled with the increasing adoption of smart manufacturing and automation technologies, has propelled this market's growth in Asia.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 279.6 Million |
| Market size forecast in 2031 | USD 402.9 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 4.8%from 2024 to 2031 |
| Number of Pages | 296 |
| Tables | 470 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Port, End-user, Region |
| Country scope |
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| Companies Included | Digi International Inc., Advantech Co., Ltd., Siemens AG, Mitsubishi Electric Corporation, Perle Systems Inc., Hewlett Packard Enterprise Company, Moxa Inc., Lantronix Inc., Neteon Technologies, Inc., and Comtrol UK Limited |
By Type
By Application
By Port
By End User
By Geography
The Market size is projected to reach USD 402.9 million by 2031.
Growing Demand For Remote Monitoring And Management Solutions are driving the Market in coming years, however, High Initial Investment And Installation Costs restraints the growth of the Market.
Digi International Inc., Advantech Co., Ltd., Siemens AG, Mitsubishi Electric Corporation, Perle Systems Inc., Hewlett Packard Enterprise Company, Moxa Inc., Lantronix Inc., Neteon Technologies, Inc., and Comtrol UK Limited
The expected CAGR of this Market is 4.8% from 2024 to 2031.
The External segment captured the maximum revenue in the Market by Type in 2023, thereby, achieving a market value of $220 million by 2031.
The North America region dominated the 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.
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