What is Protocol Converters Market?
A protocol converter is a device used by various industries in order to convert the proprietary or standard protocol of a device into a suitable protocol of other tools or devices o achieve interoperability. They are of numerous types and varieties that are used in different fields such as Transmission & Distribution, Power Generation, Automation, AMR, Oil & Gas, applications of Remote Monitoring and Utilities. They are specially designed to facilitate better communication between different devices from different vendors.
The market study is being classified by Type (Software Protocol Converters and Hardware Protocol Converters), by Application (Substation Automation, Building Automation, Automatic Meter Reading, Process Automation, Industrial Automation and Vehicle Automation Application) and major geographies with country level break-up.
Macquarrie (Australia), 3onedata Co., Ltd. (China), Beijer Electronics (Sweden), Deutschmann Automation (Germany), iGrid S.L. (Spain), Monico, Inc. (United States), Omni Instruments Ltd (United Kingdom), Toshiba International Corporation (United States), Techsys (India) and Hades Manufacturing Corporation (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are SUBNET Solutions Inc. (Canada) and Cherry & White (United Kingdom).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Research Analyst at AMA predicts that Global Players will contribute to the maximum growth of Global Protocol Converters market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Protocol Converters market by Type, Application and Region.
On the basis of geography, the market of Protocol Converters has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- High Demand for Numerous Industrial Applications
- Increased Demand for Vehicle Automation Application
Market Trend
- Growing Demand for Technological Advanced Components
Restraints
- Fluctuations in the Raw Material Prices
Opportunities
- Growing Demand from End-users
- Rise in the Industrial Automation
Challenges
- Technical Issues Related to Protocol Convertors
Key Target Audience
Protocol Converters Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies and End-users