Global Serial USB Converters Market Projected to Grow at 6% CAGR from 2023 to 2031, Driven by Industrial Automation and IoT Adoption
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A new market research report by Reed Intelligence reveals that the Global Serial USB Converters Market is on a strong upward trajectory. The market is expected to grow at a compound annual growth rate (CAGR) of approximately 6% over the forecast period from 2023 to 2031, powered by industrial automation, legacy equipment integration, and the surging demand for reliable connectivity via IoT.
Key Highlights
CAGR: ~6% between 2023 and 2031
Largest region: North America leads in terms of market strength and technological maturity.
Fastest-growing region: Asia Pacific (APAC), due to emerging economies, rising industrialization, and a growing middle class.
Segment by type (largest): Single converters dominate the market.
Segment by type (fastest-growing): Triple converters are projected to grow significantly.
Segment by application (largest and fastest): Industrial-grade converters are the most prominent and are expected to sustain the fastest growth.
Market Dynamics
Drivers:
The Serial USB Converters market is being driven by increasing industrial automation, which demands robust and reliable serial communication solutions. Legacy equipment in manufacturing and industrial settings relies on serial interfaces; converting these to USB enables modern connectivity without replacing expensive machinery. In parallel, the rapid adoption of the Internet of Things (IoT) fuels demand for dependable, low-latency serial-to-USB links.
Restraints & Opportunities:
However, the market faces several challenges, including economic uncertainties, regulatory complexities, and supply chain disruptions. Competitive pressures may drive down prices, limiting growth margins. On the other hand, significant opportunities lie in the development of wireless serial-USB solutions, cloud integration, and miniaturized, low-power converter designs tailored for niche verticals such as medical devices and scientific instrumentation.
Leading Market Players
Some of the top companies profiled in the report include:
VS Vision Systems GmbH
Contec
Brainboxes Limited
Rayon
Moxa Europe
Digi International
Omron
Utek Technology
Pixsys
Shenzhen 3onedata Technology
Wiretek
Nordfield Electronics
Dtech
Metz Connect
Market Segmentation
By Type
Triple
Combo
Single
By Application
Commercial-Grade
Industrial-Grade
By Region
North America (U.S., Canada)
Europe (U.K., Germany, France, Spain, Italy, Russia, Nordic, Benelux, Rest of Europe)
Asia Pacific (China, Korea, Japan, India, Australia, Singapore, Taiwan, Southeast Asia, Rest of APAC)
LAMEA (Latin America, Middle East & Africa)
About Reed Intelligence
Reed Intelligence provides deep-dive market research and analysis across the technology and industrial sectors. Their reports offer a detailed view of market size, competitive landscapes, growth drivers, and future opportunities.