New York, May 19, 2023 (GLOBE NEWSWIRE) -- According to Consegic Business Intelligence's research report on the Global Serial Device Server Market, the market's value reached USD 227.12 million in 2022 and is expected to surpass USD 367.46 million by 2030, exhibiting a steady growth rate of 6.5%. This growth can be attributed to the increasing demand for efficient and reliable serial device connectivity solutions across various industries.
A serial device server is referred to as a system that enables serial devices to communicate with each other over an IP based network. The server is employed to transform serial to Ethernet-compatible signals remotely by employing the network attached machines. Additionally, serial ports are extensively deployed in protocol conversion and long-distance transmission as the signals travel along the ports with less data loss.
The increasing demand to enhance data and network security is one of the major factors responsible for driving the growth of the market. The ability of serial device servers to encrypt the data before transmitting it over long distances is contributing considerably in promoting the market growth. In addition, the improvements in serial servers enhance the durability to function efficiently in harsh environmental conditions is also propelling the market growth. Moreover, the emergence of advanced technology including the advent of isolated dual redundant power inputs to deliver another power source in case the primary power input fails is further contributing significantly in boosting the market growth. For instance, in October 2020, 3onedata launched NP5100 to enhance data and network security in industrial applications. The product is designed to function in extreme environmental conditions and is also equipped with isolated dual redundant power inputs thus, promoting the market growth.
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The growing penetration of advanced technologies including the Internet of Things and cloud computing in the healthcare sector for monitoring and diagnosis is projected to create potential opportunities for the growth of the market. However, the slow speed of transmission, bandwidth wastage along with the presence of alternatives including Peripheral Component Interconnect (PCI) serve as the major restraint for the growth of the serial device server market.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 367.46 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 6.5% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | 3onedata, Advantech, Atop Technologies Inc., Opengear, Inc., Comtrol Corporation, Digi International, Kyland, Moxa, OMEGA, ORing Industrial Networking Corp. |
| By Type |
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| By Product |
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| By Application |
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| By End-User |
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| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Key Market Highlights
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in serial device servers.
- Globally, the serial device server is divided based on the type into wired and wireless.
- In the context of the product, the market is separated into Less than 2-Port, 2-Port, 4-Port, 8-Port, 16-Port, and More than 16-Port.
- The application segment of the serial device server is classified into traffic signal communication, access control system, product line data collection, and attendance system.
- In the context of end-user, the market is categorized into IT & logistics, healthcare, energy & utility, BFSI, government, and retail.
Serial Device Server Market Growth Drivers:
- Development of advanced ports including fiber optics to improve redundancy is one of the major drivers for the growth of the market.
- The increasing demand to transfer data over a cloud platform that enables remote monitoring in real-time over long distances is propelling the market growth.
- The growing demand to enhance network and data security by employing encryption methods is boosting market growth.
Restraints
- The major factor restraining the growth of the serial device server market is the slow speed of transmission of data and wastage of bandwidth.
- The presence of alternatives including Peripheral Component Interconnect (PCI) allowing better data transmission is impeding the market growth.
Opportunities
- The increasing adoption of the Internet of Things and cloud computing in the healthcare sector for monitoring and diagnosis is projected to create potential opportunities for the growth of the market.
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Global Serial Device Server Market Segmentation Details:
Based on Type, the wired segment contributed the largest shares to the market growth in 2022. The growth is attributed to the increasing adoption of wired serial device servers in various applications including automated manufacturing systems, access & control systems, and power environment and security systems. Additionally, wired serial servers enable better processing of signals, improving the stability of the communication and thus, contributing significantly in accelerating the market growth.
Based on Product, the 2-port segment offered substantial shares to the global Serial Device Server Market in the year 2022. The growth is attributed to the ability of 2-port servers to auto-detect and identify the connected devices ensuring smooth communication. Moreover, 2-port servers also allow smooth communication between serial-based devices including PLC, sensors, barcode readers, and meters to an IP-based Ethernet device further, driving the growth of the market.
Based on Application, the access control systems hold the maximum share to the market growth in the year 2022. The emergence of advanced serial device servers improves the efficiency of access control systems to support multi-operation modes namely remote pair mode and VCOM. Moreover, the serial device servers also allow bi-directional information transmission between the network interfaces and serial ports further promoting the growth of the market.
Based on End-User, the IT and Logistics segment offered substantial shares to the global serial device server market in the year 2022. The growth is attributed to the ability of serial device servers to offer flexibility in network connectivity in the IT sector by offering numerous serial ports to connect to networks. In addition, the ports transmit data reliably and securely further driving the growth of the market. Furthermore, the advent of advanced cellular connectivity to function effectively at low bandwidth is contributing significantly in propelling the growth of the global serial device server market.
Based on region, North America has been a major contributor to the growth of the Serial Device Server Market. The growth is attributed to the advancements in software to remotely monitor the data using a serial port, ensuring smooth communication over long distances. Additionally, the expanding IT sector also raises the demand for advanced serial device ports to enable seamless communication is also contributing considerably in boosting the market growth. Moreover, the presence of key players in the region that constantly apply innovations to launch improved products is driving the growth of the market.
Recent Developments
- In June 2022, Opengear introduced Smart OOBTM Console Server to enhance the security of the data transmitted over long distances. The server connects approximately 48 devices and is four times faster than the previous-generation servers.
- In March 2021, Advantech launched EKI-1511 a serial-to-Ethernet device server for industrial applications. The product is designed to enable smooth communication over long distances at low bandwidth to improve the customer experience.
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List of Major Global Serial Device Server Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new machines. The following are major market players operating in the market environment —
- 3onedata
- Advantech
- Atop Technologies Inc.
- Opengear, Inc.
- Comtrol Corporation
- Digi International
- Kyland
- Moxa
- OMEGA
- ORing Industrial Networking Corp.
Key Questions Covered in the Serial Device Server Market Report
- What will be the potential market valuation for the serial device server industry by 2030?
- The market valuation for the serial device server is expected to be approximately USD 367.46 Million by 2030 driven by the increasing adoption of serial device servers to allow smooth communication over long distances.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the Serial Device Server Market's growth in the coming years?
- Asia Pacific is anticipated to have the largest impact on the Serial Device Server Market during the forecast period owing to the expanding agricultural industry in countries including India that increases the demand for monitoring devices, control devices, and collection control terminals. - Which type/product/application/ end-user is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- The report consists of segments including type, product, application, and region. Each segment has a key dominating sub-segment being driven by industry trends and market dynamics. For instance, the type segment has registered wireless serial device servers to witness the fastest CAGR owing to the ability to remotely access and manage industrial serial devices over WiFi and to prevent downtime in the event of power failure. - What specific segmentation details are covered in the Serial Device Server Market report, and how is the dominating segment impacting the market growth?
- The report consists of segments including type, product, application, and end-user. Each segment has a key dominating sub-segment being driven by industry trends and market dynamics. For instance, the type segment has witnessed wired serial device servers as the dominating segment in the year 2022. The growth is attributed to the increasing application of wired servers in access & control systems, automated manufacturing systems, and power environment and security systems.
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