Global Industrial Communication Market
Global Industrial Communication Market was valued at US$ 92.03 Bn in 2019 and is expected to reach US$ 226.24 Bn by 2027, at a CAGR of 11.9% during a forecast period.
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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding industrial communication market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the industrial communication market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The communications among devices are carried out through the use of different industrial communications protocols. A communication protocol is a set of rules that permit the transfer and exchange of data between the devices to communicate. The industrial communication increases productivity, efficiency, and accuracy.
The industrial communication market grows gradually in the last few years because of growing adoption of industrial internet of things. The industrial internet of things links different infrastructure and shrinks operating costs thus it helps to boost the growth of industrial communication market. Similarly, varied adoption of the machine to machine (M2M) solutions for controlling power grid communications and remote monitoring of smart meters has contributed to the progress of industrial communication market. However, lack of standardization among equipment manufacturers and different standards adopted by various equipment manufacturers is hampering the data collection and information producing process these factors acting as restrains to the growth of the global industrial communication market.
The factors which challenge to the growth of the industrial communication market are fears related to cybersecurity and strict field sites conditions like high-voltage transients, severe shocks and vibrations, and extremely high temperatures. In the global industrial communication, the market is expected to generate various opportunities owing to the rising adoption of industrial internet of things and growing demand for wireless networks.
In 2018 the automotive and transportation end-user industry held the largest share of the global industrial communication market among the other end-user industries and this industry is a major contributor to the whole industrial communication market. The growing number of automotive and transportation manufacturing centers in the world constructing advanced automation techniques for production is anticipated to lift the demand for industrial communication market in the future. Water and wastewater application are projected to grow rapidly in the forecast period. Water level monitoring sensors, AC drives, and controllers are key components of the water treatment systems.
The wireless communication has many advantages over wired communications. The wireless connections have increased uses in many industrial applications from the last few years because of that as a result of improved network coverage, quality of transmission, and bandwidth capacity. The growth of the wireless connection is increasing due to the advancements in wireless communication technologies, especially in the wireless road addressable remote transducer, and cellular, and wireless local area network.
The manufacturing sector in the countries of the Asia Pacific like China, Japan, and South Korea is anticipated to contribute to the development of the industrial communication market in this region during the forecast period. The manufacturing companies in the Asia Pacific widely adopt smart factory concept for implementing innovative manufacturing technologies on the factory floor. China is a global manufacturing center for semiconductor and automotive manufacturers. Promptly rising automotive industry in China is probably to make opportunities for the industrial communication market players in this country. Also, the rising approval of Industrial Revolution 4.0 in the Asia Pacific is a key factor pouring the growth of the industrial communication market in this region.
Scope of the Global Industrial Communication Market:Inquire before buying
Global Industrial Communication Market by Offering
Global Industrial Communication Market, by Communication Protocol
• Industrial Ethernet
Global Industrial Communication Market by End-Use Application
• Food & Beverages
• Automotive and Transportation
• Oil & Gas
• Aerospace & Defense
• Others (Electrical and Electronics, Chemicals and Fertilizers, Pharmaceutical, Energy & Power, Mining, and Water and Wastewater)
Global Industrial Communication Market by Geography
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Industrial Communication Market
• Sick AG
• Schneider Electric
• Belden Inc.
• Moxa Inc.
• Rockwell Automation
• GE Grid Solutions, LLC
• Cisco Systems
• Hms Industrial Networks
• Ifm Electronic GmbH
• Mitsubishi Electric Group
• B&R Automation
• Hans Turck GmbH & Co. Kg
• Bosch Rexroth AG
About This Report
This Report Is Submitted By : Maximize Market Research Company
Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.