Industrial Communication Market 2019 Global Industry Share, Growth, By Component, Regional Statistics, Revenue, Forecast 2025
Jul 17, 2019
Market Study Report LLC recently added a new title on 2019-2025 Global Industrial Communication Market Report from its database. The report provides study with in-depth overview, describing about the Product, Industry Scope and elaborates market outlook and status to 2025.
Delaware, Selbyville - July 16, 2019 /MarketersMedia/ —
The hardware market has held a major share in the industrial communication market due to the widespread usage of physical infrastructure components such as routers, switches, controllers, and communication interface devices. Switches accounted for over 25% revenue in the market landscape as it plays a pivotal role in the overall functioning of the network infrastructure for implementing new connectivity-enabled strategies. The technological advancements in industrial switches have encouraged its usage in industries with harsh working environments. The services market will attain a CAGR of 10% over the forecast time period. This is attributed to the increasing demand for efficient & reliable communication architecture among companies. The upgrade of the infrastructure involves the integration of numerous software & hardware components that demand strong technical expertise to ensure long-term stability of the network.
Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/2100671/?utm_source=marketersmedia.com-SP
Industrial Communication Market is expected to surpass USD 160 billion in revenue by 2025. The extensive usage of Industry 4.0 technologies in the industrial landscape is driving the growth of the industrial communication market. Several enterprises are leveraging on various next-generation industrial technologies, such as Industrial Internet of things (IIoT) and additive manufacturing, to enhance the operational efficiency by incorporating new business models into their assembly lines. This has allowed the companies to build smart supply chains with an efficient-end to-end ecosystem. The gradually rising need among various industry verticals to minimize their CAPEX while increasing operational efficiency is a key factor promoting the demand for automation.
The influx of various favorable government initiatives to promote digitization and automation is incentivizing industries to upgrade their existing communication infrastructure. The regulatory bodies are working closely with industry giants, such as Siemens, ABB, and GE, to promote the use of advanced communication solutions. Moreover, the introduction of new and advanced communication protocols & standards is also spurring the industrial communication market. Most of the legacy protocols are series based, unable to keep up with the real-time data transmission needs of IIoT devices. To address these issues, enterprises are progressively moving toward new and flexible connectivity mechanisms.
The Europe region held more than 37% of the total revenue in the industrial communication market in 2018 due to the high degree of investments in Industry 4.0 technologies to modernize existing facilities. The region accounts for more than a third of the worldwide investments in Industry 4.0 and IIoT initiatives. Countries in Northern Europe and Western Europe including Germany, France, and the UK have been able to attract most of these investments. The Asia Pacific region will grow at a CAGR of 12% over the projected time duration due to rapid industrialization in countries including China, India, and Indonesia. Favorable government initiatives and the availability of cost-effective labor have further added to the adoption of new communication technologies.
Some of the vendors present in the industrial communication market are Siemens, Cisco, Schneider, General Electric, Honeywell International, Eaton, Belden, Omron Corporation, ACS Motion Control, Beckhoff Automation, ABB, Rockwell Automation, and Moxa. The companies operating in the market are adopting inorganic growth strategies to increase their customer base in the market. For instance, in October 2016, Rockwell Automation acquired Maverick Solutions, a solution integrator, to gain new technical expertise in sectors such as food & beverage, chemical, and oil & gas.
Request a discount on standard prices of this premium report at: https://www.marketstudyreport.com/check-for-discount/2100671/?utm_source=marketersmedia.com-SP
Fieldbus held a major share of over 49% in the industrial communication market in 2018 due to the extensive adoption of protocols, such as PROFIBUS, CC-Link, and Modbus, across various process-oriented industries. PROFIBUS accounted for over 38% market share in 2018. This is attributed to its ability to seamlessly integrate digital input & output devices and discrete motion control aspects, such as analyzers, belonging to various third-party solution providers. Moreover, the inexpensive nature of the technology is promoting its usage across various small industrial players. Ethernet is expected to register a CAGR of over 12% during the forecast timeline due to its rising need for connectivity protocols that can integrate legacy systems with new & advanced communication devices.
The automotive & transportation market is leading the industrial communication landscape with a market share of over 25% in 2018. The automotive industry comprises large players with strong financial condition. This has allowed them to integrate advanced automation, data exchange, and communication technologies into the assembly lines. In addition, the requirement of higher production volumes within shorter timeframes is further augmenting the usage of communication technologies in the sector. The aerospace sector will grow at a CAGR of 11% over the projected time duration due to the need to minimize quality costs and cycle times. The major OEM manufacturers are embracing new communication technologies as even a cost reduction of 1% represents over billions of dollars in savings.
Table of Content:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Industrial Communication Industry Insights
Chapter 4. Competitive Landscape, 2018
Chapter 5. Industrial Communication Market, By Component
Chapter 6. Industrial Communication Market, By Protocol
Chapter 7. Industrial Communication Market, By Application
Chapter 8. Industrial Communication Market, By Region
Chapter 9. Industrial Communication Market Company Profiles
For more information on this report at: https://www.marketstudyreport.com/reports/industrial-communication-market/?utm_source=marketersmedia.com-SP
Related Report:
Global Industrial Communication Market Report 2019, Competitive Landscape, Trends and Opportunities
The report mainly studies the size, recent trends and development status of the Industrial Communication market, as well as investment opportunities, government policy, market dynamics (drivers, restraints, opportunities), supply chain and competitive landscape. Technological innovation and advancement will further optimize the performance of the product, making it more widely used in downstream applications. Moreover, Porter's Five Forces Analysis (potential entrants, suppliers, substitutes, buyers, industry competitors) provides crucial information for knowing the Industrial Communication market.
About Us:
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Market Study Report
Address: 4 North Main Street, Selbyville, Delaware 19975 USA
Phone: 1-302-273-0910
Website: https://www.marketstudyreport.com
Source: MarketersMedia
Release ID: 88897248
More News
Recommended
A warning to anyone with credit card debt...
In France, Raging Against the Luxury Machine
SpaceX Boosts the A.I. Rally
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.