LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global industrial media converters market to grow at a CAGR of over 6% during the period 2018-2022, according to their latest report.
This market research report segments the global industrial media converters market into the following end-users (process industry and discrete industry) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
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In this report, Technavio analysts highlight the ease of installation in existing cabling infrastructure as a key factor contributing to the growth of the global industrial media converters market:
Ease of installation in existing cabling infrastructure
The twisted pair wiring is used for LAN connection in industries. The major drawback of using twisted pair wiring is its limited transmission distance of 100 meters. This challenge can be settled using fiber optics because fiber cables are efficient in data transmission over longer distances, apart from being economical when compared with copper wire. But, the complete replacement of network cables from copper wires to fiber cables proves difficult and leads to high capital expenditure. Most process and discrete industries have a large installed base of copper wiring as copper wires are easy to install. Furthermore, switching from copper to fiber necessitates industrial operators to replace the expensive equipment, which has copper ports.
According to a senior analyst at Technavio for automation, “The use of media converter aids in the easy transition of media types and extension of the LAN using fiber optic cables in the existing infrastructure. The use of single-mode optical fiber can increase the reach to up to 130 km. As industrial manufacturers are increasing their Ethernet protocol for connectivity and the need to connect copper base connectivity throughout the enterprise, media converters offer viable solutions for converting media and extending the networking capabilities within the current network infrastructure.”
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Global industrial media converters market segmentation
Of the two major end-users, the process industry segment held the largest market share in 2017, accounting for nearly 70% of the market. This share of this market segment is expected to increase tremendously during the forecast period.
In 2017, the Americas held the dominant position in the global industrial media converters market, accounting for approximately 38% market share. EMEA and APAC followed the Americas. The Americas is anticipated to witness steady growth during the forecast period.
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