The Global Industrial Communication Market size is expected to reach $28 billion by 2028, rising at a market growth of 8.0% CAGR during the forecast period.
Industrial communication, which aids businesses in managing current power distribution, traffic systems, & machine control, is the secret to increased efficiency for every business. High performance industrial communication technology connects much different individual equipment securely and reliably while transferring massive amounts of data quickly and with little lag time. It also uses more wireless technologies both within and outside of the plant.
The reliable transfer of data from the field to the control level is the goal of industrial communication. The availability and security of the networked systems in this place are increased by consistent solutions utilizing Industrial Ethernet, cutting-edge wireless technologies, & cybersecurity.
The industrial communication sector now has more options due to M2M technologies. It allows businesses to increase productivity and workplace safety, enabling them to operate more effectively. The industrial communication industry is anticipated to continue to grow as a result of these M2M communication benefits. The industrial communication market is experiencing new growth prospects, primarily for the oil & gas, electronics, and energy & power generation industries, due to the quick increase in demand for wireless technologies including WirelessHART, WLAN, Bluetooth Smart, & Zigbee.
Any automation system architecture needs an industrial communication network as its foundation, since it offers robust data exchange, data controllability, and flexibility to link diverse devices. Over the past few years, industries have improved end-to-end digital signal accuracy & integrity through the use of proprietary digital communication networks.
Every manufacturing company has been forced to revise its strategies in reaction to the COVID-19 pandemic in order to restore its supply chain. The majority of manufacturing companies were forced to halt production, which hindered the supply chain and had a negative effect on the growth of the industrial communication market. In the first quarter of 2020, revenue growth for the majority of industrial communication companies encountered a downfall. Vendors of industrial communication products and solutions are working hard to assist staff members, clients, and channel partners in stabilizing their business operations through the incorporation of cloud technology. Consequently, the COVID-19 pandemic has created new opportunities for the market's expansion.
In order to increase transparency within a production facility as well as between the facility and the corporate network, industrial Ethernet is crucial. A more reliable communication network is the key idea behind Industry 4.0. The need for real-time operating requirements directly relates to industrial automation and industrial communication networks. They must therefore manage the data in a redundant and deterministic manner. The networks should be adaptable to a wide range of tools using multiple standards and interfaces.
Some of the key reasons propelling the growth of the industrial communication market include the adoption of Industry 4.0 and efforts done by governments around the world to implement industrial automation. A reliable communication network forms the basis of the Industry 4.0 concept. Both industrial automation and industrial communication networks depend on real-time operating requirements.
In order to increase transparency within a production facility as well as between the facility and the corporate network, industrial Ethernet is crucial. A more reliable communication network is the key idea behind Industry 4.0. The need for real-time operating requirements directly relates to industrial automation and industrial communication networks. They must therefore manage the data in a redundant and deterministic manner. The networks should be adaptable to a wide range of tools using multiple standards and interfaces.
On the basis of offering, the industrial communication market is segmented into components, software, and services. In 2021, components acquired the largest revenue share in the industrial communication market. To allow quick communication in industries, equipment like IP phones and PCs are connected to the Internet. In the industrial setting, machine-to-machine (M2M) communication promotes effective plant operations.
By communication protocol, the industrial communication market is divided into fieldbus, industrial ethernet, and wireless. In 2021, wireless communication protocol procured a substantial revenue share in the industrial communication market. Due to its high bandwidth, extensive coverage, as well as ability to streamline intricate logistics & production processes, wireless communication has a lot of potential and is important to the modernization of plants. In particular, industrial systems like cranes, automated guided vehicle systems, remote control/remote maintenance systems, as well as process industries for measuring physical parameters like pressure, temperature, and liquid levels, have many uses for wireless communication and related items would result in market growth.
Based on vertical, the industrial communication market is fragmented into automotive, electrical & electronics, aerospace & defense, food & beverages, pharmaceuticals & medical devices, energy & power, metals & mining, chemicals & fertilizers and others. The growth of the industrial communication market can be attributed to the fact that by bridging the distance between distant sites, these solutions boost management effectiveness and shorten the time needed to reach crucial business decisions. Critical technology pillars for the worldwide mining sector include connectivity, real-time data delivery, collaboration, and machine-to-machine (M2M) communications.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 16.5 Billion |
| Market size forecast in 2028 | USD 28 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 8% from 2022 to 2028 |
| Number of Pages | 403 |
| Number of Tables | 540 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Offering, Communication Protocol, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the industrial communication market is analyzed in North America, Europe, Asia Pacific and LAMEA. In 2021, the Asia Pacific segment led the industrial communication market with the maximum revenue share. This is because the region is the largest manufacturer of automotive & electronics companies which increases the demand for industrial communication in the APAC region. In addition to this, the presence of major vendors in the industrial communication market such as Cisco, Rockwell, and Huawei Technologies in the region is also a factor supporting market growth.
Free Valuable Insights: Global Industrial Communication Market size to reach USD 28 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Siemens AG, ABB Group, Schneider Electric SE, Sick AG, Rockwell Automation, Inc., Advantech Co., Ltd., Belden, Inc., Omron Corporation, and Huawei Technologies Co. Ltd.
By Offering
By Communication Protocol
By Vertical
By Geography
The global industrial communication market size is expected to reach $28 billion by 2028.
Rising Need Of Scalable, Fast & Robust Communication Protocols are driving the market in coming years, however, Rising Need Of Scalable, Fast & Robust Communication Protocols limited the growth of the market.
Cisco Systems, Inc., Siemens AG, ABB Group, Schneider Electric SE, Sick AG, Rockwell Automation, Inc., Advantech Co., Ltd., Belden, Inc., Omron Corporation, and Huawei Technologies Co. Ltd.
The expected CAGR of the industrial communication market is 8.0% from 2022 to 2028.
The Industrial Ethernet segment acquired maximum revenue share in the Global Industrial Communication Market by Communication Protocol in 2021, thereby, achieving a market value of $15.1 billion by 2028.
The Asia Pacific market dominated the Global Industrial Communication Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10.1 billion by 2028.
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