The Latin America, Middle East and Africa Industrial Communication Market would witness market growth of 11.4% CAGR during the forecast period (2022-2028).
The rise in need for scalable, quicker, more dependable, & interoperable communication protocols is one of the key factors anticipated to propel the growth of the industrial communication market during the forecast period. The expanding use of digital twins to safely monitor smart production activities is also projected to fuel the industrial communication market's expansion.
Throughout the projected period, there is a sharp increase in demand for industrial Ethernet solutions and services across electrical and electronics applications. Industrial Ethernet can be deployed with the use of a number of electronic devices, including firewalls, routers, hubs, gateways, and switches. These goods aid in creating connections between various network elements in industrial settings across many industries. Different power supply units are designed specifically for the adoption of industrial Ethernet and aid in preventing errors brought on by voltage overloads, short circuits, and temperature overloads.
The Middle East & Africa are about to experience an unparalleled flood of innovation because of the arrival of Industry 4.0. The Middle East and Africa are also the world's largest centers for oil and gas production as well as mineral mining (diamond, phosphate, and gold). 5G will be the preferred IoT connectivity technology for these sectors. Increased network bandwidth, lower cost per gigabyte, and novel use case needs are major forces driving immediate 5G implementation. The mature ICT markets like Saudi Arabia, the UAE, and Qatar are anticipated to account for the majority of the MEA's 5G subscriptions.
The Brazil market dominated the LAMEA Industrial Communication Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $623.7 million by 2028. The Argentina market is estimated to grow at a CAGR of 12% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 11.1% during (2022 - 2028).
Based on Offering, the market is segmented into Components (Switches, Controllers & Connectors, Routers & WAP, Gateways, Communication Interfaces & Converters, Power Supply Devices, and Others), Software, and Services. Based on Communication Protocol, the market is segmented into Industrial Ethernet, Fieldbus, and Wireless. Based on Vertical, the market is segmented into Automotive, Electrical & Electronics, Aerospace & Defense, Chemicals & Fertilizers, Pharmaceuticals & Medical Devices, Metals & Mining, Power & Energy, Food & Beverages, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Industrial Communication Market is Predict to reach $28 Billion by 2028, at a CAGR of 8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Siemens AG, ABB Group, Schneider Electric SE, Sick AG, Rockwell Automation, Inc., Advantech Co., Ltd., Belden, Inc., Omron Corporation, and Huawei Technologies Co. Ltd.
By Offering
By Communication Protocol
By Vertical
By Country
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