Technology

Protocol Conversion Gateway Market Size by 2028

Press Release

Protocol Conversion Gateway Market – Introduction

With the rapid penetration of technology in numerous industry, the evolution of novel devices has been witnessed, which further requires efficient communication between two or more devices to optimize their operations. Protocol conversion gateway is one such robust solution addressing the requisites of devices to enable communication between them by underpinning specific protocols to become compatible with the existing equipment. The significance of protocol conversion gateway can be tracked with its excellent capability to transform commands and data from one device/app to another device/app.

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The advent of next-gen technologies, such as IoT, entail interoperability of several devices employed with their distinct protocols. Protocol conversion gateway enables effective communication between the devices by streamlining their network operations and enhancing the performance of the network. Furthermore, demand for such gateways has been on an evident surge in parallel to the ubiquitous utilization of smartphone and tablets, which is anticipated to underpin the growth of the protocol conversion gateway market.

Protocol Conversion Gateway Market – Novel Developments

Some of the leading players operating in the protocol conversion gateway market constitute of Estimote, Beep, Samsara Networks, Helium Systems, Notion, Microchip Technology, Dell, Advantech, TE Connectivity, Hewlett Packard Enterprise, Cisco Systems, Texas Instruments, Siemens, Artiza Networks, Nokia, NXP Semiconductors, Huawei Investment and Holding, and Intel, among others.

  • Siemens recently announced the upgrade of PROFIBUS to PROFINET with a view to transforming the automation arena. By leveraging the PROFINET standards, the features of Ethernet receives additional extension. It converges the advantages of both – the practical industrial experience of PROFIBUS along with the flexibility of ETHERNET. Moreover, PROFITNET offers additional benefits such as flexible topologies, single cable for multiple applications, and relatively high performance of system.
  • BitTorrent teams up with CoinPayments to support the native BitTorrent Token (BTT) that is based on the Tron Protocol. With the help of BTT, the users will now be able to pay for the subscription of µTorrent Pro and BitTorrent. The strategic partnership has been established with an aim to enable the liquidity of BitTorrent in the online marketplace prior to the incorporation of the token in their mobile and desktop products.
  • Recently, SWIFT announced its strategic partnership with R3 with an aim to launch GPI Link and move on its way towards further expansion. SWIFT plans to apply its GPI program to eCommerce and several trading platforms. The GPI platform is said to be open and interoperable, which will enable R3 platforms to carry out their transaction and settle payments made through GPI link with the banks. The project is said to comply APIs along with ISO standards and SWIFT protocols.

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Protocol Conversion Gateway Market – Dynamics

Demand for Automation of Devices to Reflect Positively on the Growth of the Protocol Conversion Gateway Market

Robust demand for protocol conversion gateway is witnessed on account of the evolution of devices. With the advent of the Internet and its ubiquitous utilization for ensuring the operations of numerous devices, there has been a substantial rise in the data traffic. In addition to this, there has been a surge in the demand for bandwidth to manage the data traffic. Rising demand for automation entail protocol conversion gateway, which can effectively communicate with the devices and perform the designated actions. A cohort of these factors are anticipated to fortify the growth of the global protocol conversion gateway market.

Asia Pacific Remains a Dominant Regions for the Growth of the Protocol Conversion Gateway Market

The protocol conversion gateway market has been witnessing an impressive growth in the emerging economies such as Asia Pacific, especially in countries like India and China. Trends of wearable devices and home automation systems have been adopted at a proliferated rate by the consumers. As a result, such automation systems require effective modes to communicate with other devices and perform their designated tasks. Such an acute demand is expected to bolster the growth of the protocol conversion gateway market.

Protocol Conversion Gateway Market Segmentation

The protocol conversion gateway market has been segmented on the basis of applications, types, and regions.

Protocol Conversion Gateway Market – Applications

Depending on the applications, the protocol conversion gateway market has been divided into:

  • Industrial Control
  • Telecommunication
  • Others

Protocol Conversion Gateway Market – Types

Based on the types, the protocol conversion gateway market has been classified into:

  • Fieldbus Based Protocol Converter
  • E1/Ethernet Protocol Converter

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This post was originally published on The Market Plan