I/O Module Market by Key Manufacturers Profile, Chain Structure and Current Outlook
9th October, 2018 – I/O Module Market is expected to witness lucrative growth over the coming six years. The increasing demand for safe I/O modules, stringent government, and industrial safety standards for usage and rising demand for reduced wiring cost are the drivers contributing to the market growth. In addition, reduced start-up machine time and small sizes devices for easy handling also anticipate the demand for the global I/O module market.
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The various technological advancements, variable designs, and adoption of Ethernet I/O modules are also the factors leading to the market growth. Furthermore, industrial Internet of Things (a network of physical objects such as buildings, devices, and vehicles which facilitate these objects to collect and exchange data.) also drives the market growth. The increasing trend towards automation, internet of things, digitalization and virtualization of the plant, remote asset management, and energy management are increasing the demand for controlling and measuring of modules.
The new safety I/O modules offers the advantages of traditional distributed I/O safety systems. These new modules help in the easier control and monitor the devices safely. Also, it detects failure of modules at the field device levels and at I/O levels and, enhance the operator protection. The Lumberg Automation Company has introduced its new safety I/O module named as LioN-Link. It allows the safety-related outputs and do not require any additional terminal box, unlike other I/O systems. This device saves time and money of the users. Hence, making the device cost-effective and user-friendly.
The major trend of the global I/O module market is the introduction of high-speed I/O modules coupled with high-speed Ethernet-based networks so as to work efficiently. The growth of the market is also dependent on the growth of automation controller market. An Increasing number of manufacturing companies for automation controller increases the need for I/O modules.
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