Global Industrial PC Market Set For 7.8% Growth, Reaching $8.04 Billion By 2028
Industrial PC Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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How Has the Industrial PC Market Performed in Recent Years and What is Its Expected Size in 2024?
The industrial pc market has witnessed robust growth in recent years. With a market size expanding from $5.57 billion in 2023 to an expected $5.95 billion in 2024, it demonstrates a promising compound annual growth rate CAGR of 6.8%. The considerable growth in the historic period is chiefly attributed to an increase in automation and control, heightened productivity, rising demand for ruggedness and durability, growth in machinery and equipment interface, and a surge in demand for process optimization.
What Are the Projected Industrial PC Market Growth and Key Trends for the Coming Years?
The industrial pc market size is expected to witness continued strong growth in the coming years. Projected to rise to $8.04 billion in 2028 with a compound annual growth rate CAGR of 7.8%, numerous factors can be credited for this anticipated growth during the forecast period. These factors include a rise in remote monitoring and maintenance, increasing demand for cybersecurity, increasing demand for customization and flexibility, changes in regulations, and an increase in demand within the healthcare and medical devices sector.
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What Are the Key Drivers of the Industrial PC Market?
The industrial PC market is on the verge of remarkable transformation largely propelled by the rising application of Internet of Things IoT. IoT which involves the deployment of network-connected sensors and monitoring devices is enabling significant enhancement in the manufacturing and quality of an organization's products and parts. Industrial PCs contribute to providing a platform for executing automation software for monitoring and controlling real-time processes. As per Cisco, a leading IoT device manufacturer based in the US, there is expected to be a 30% increase in IoT connections in cities and a 26% increase in M2M machine-to-machine connections in 2020. Moreover, the market size of IoT semiconductor components is anticipated to account for 12% by 2025 across industries involved in IoT analytics. Hence, the increased use of IoT is stirring the growth of the industrial pc market.
Who Are the Major Companies Operating in the Industrial PC Market?
The top participants operating in the industrial PC market include Advantech Co. Ltd., Beckhoff Automation Pvt. Ltd., Siemens AG., IEI Integration Corporation, Kontron AG, NEXCOM International Co Ltd, Avalue Technology Inc., DFI Inc., American Portwell Technology Inc., General Electric Company., Omron Corporation, Rockwell Automation Inc., Schneider Electric SE, B&R Industrial Automation GmbH, Acnodes Corporation, Aditech ICT Pvt. Ltd., ADLINK Technology Inc., Contec Co. Ltd., Crystal Group Inc., OnLogic Inc., Protech Systems Co. Ltd., VarTech Systems Inc., Mile Marker Industries LLC, Ingersoll Rand Inc., Harken Inc., COMEUP Industries Inc., Analog Devices Inc., Intel Corporation, Mitsubishi Electric Corporation, Panasonic Corporation.
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What Are the Emerging Trends in the Industrial PC Market?
Major players in the industrial PC market are making significant strides by launching new industrial PC solutions. One noteworthy example is the AC100 designed to provide enhanced computing power and flexibility. Built on the NVIDIA Jetson Xavier NX platform, this industrial Pc boasts of up to 21 TOPS of computing. It comes equipped with DisplayPort, Ethernet, USB, and internal PCLe M.2 SSD interfaces and supports 4G/5G WWAN and two WiFi 6 modules among other unique features.
How Is the Industrial PC Market Segmented?
The industrial PC market report categorizes the market into various segments –
1 By Type: Panel IPC, Rack Mount IPC, Box IPC, Embedded IPC, DIN Rail IPC, Other Types
2 By Display Type: Resistive, Capacitive, Other Display Types
3 By Storage Medium: Solid State, Rotating
4 By Sales Channel: Direct Sales, Indirect Sales
5 By End-User: Automotive, Healthcare, Chemical, Aerospace and Defense, Semiconductor and Electronics, Energy and Power, Oil and Gas, Other End Users.
What Are the Regional Insights Into the Industrial PC Market?
In 2023, North America dominated the industrial PC market by being the largest region. However, primed for remarkable growth in the forecast period is the Asia-Pacific region. The regions elaborated in the industrial PC market report encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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