Industrial Communication Market

Industrial Communication Market Size, Share, Growth Analysis, By Offering(Introduction, Components), By Communication Protocol(Introduction, Fieldbus), By Vertical(Introduction, Automotive), By Geography(Introduction, North America) - Industry Forecast 2024-2031

Report ID: UCMIG45J2164 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Industrial Communication Market Insights

Market Overview:

The market for industrial communication is anticipated to increase from USD 21.9 billion in 2023 to USD 29.0 billion by 2028, growing at a CAGR of 5.7% over that time. The important factors driving the growth of this market are the rising demand for scalable, quicker, reliable, and interoperable communication protocols and the rising popularity of machine to machine communication.

Industrial Communication Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Electronic Equipment & Instruments by segment aggregation, the contribution of the Electronic Equipment & Instruments in Technology Hardware & Equipment and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

Segmentation Analysis:

The Industrial Communication Market is segmented by Offering, Communication Protocol, Vertical, Geography. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

Industrial Communication Market Basis Point Share Analysis, 2021 Vs. 2028
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  • Based on Offering the market is segmented as, Introduction, Components, Switches, Gateways, Routers & WAP, Controllers & Connectors, Communication Interfaces & Converters, Power Supply Devices, Others, Software, Services
  • Based on Communication Protocol the market is segmented as, Introduction, Fieldbus, Industrial Ethernet, Wireless
  • Based on Vertical the market is segmented as, Introduction, Automotive, Electrical & Electronics, Aerospace & Defense, Oil & Gas, Chemicals & Fertilizers, Food & Beverages, Pharmaceuticals & Medical Devices, Energy & Power, Metals & Mining, Engineering / Fabrication, Water & Wastewater Management, Others
  • Based on Geography the market is segmented as, Introduction, North America, US, Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, Japan, India, South Korea, Rest of Asia Pacific, ROW, Latin America, Middle East & Africa, KEY MARKET PLAYERS, Cisco Systems, Inc., Siemens, Rockwell Automation, OMRON Corporation (Japan), Moxa Inc., Huawei Technologies Co., Ltd., SICK AG, Schneider Electric, ABB, Belden Inc., GE, Advantech Co., Ltd, FANUC CORPORATION, Bosch Rexroth AG, AAEON Technology Inc., HMS Networks, Honeywell International Inc., Mitsubishi Electric Corporation, Ericsson, Hans Turck GmbH & Co. KG, ACS Motion Control, Eaton, Beckhoff Automation

Regional Analysis:

Industrial Communication Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.

Industrial Communication Market Attractiveness Analysis, By Region 2020-2028
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Industrial Communication Market : Risk Analysis

SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Industrial Communication Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Industrial Communication Market's supply chain, distribution, and total revenue growth.

Competitive landscaping:

To understand the competitive landscape, we are analyzing key Industrial Communication Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Industrial Communication Market.

To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.

Key Players Covered in the Report:

  • ial communication market is projected to grow from USD 21.9 billion in 2023 to USD 29.0 billion by 2028; it is expected to grow at a CAGR of 5.7% from 2023 to 2028. Initiatives undertaken by governments of different countries to promote the adoption of industrial automation, the growing need for scalable, faster, reliable, and interoperable communication protocols, increasing use of machine-to-machine communication technology, and increasing use of digital twin to safely monitor smart manufacturing operations are among the factors driving the growth of industrial communication market.
  • Driver: Increasing use of machine-to-machine communication technology
  • Better connectivity for smooth communication and low power requirements are the key reasons for the increased adoption of new machine-to-machine (M2M) technologies. To achieve effective M2M communication, the existing capacity of mobile networks must be able to handle billions of nodes that are expected to be deployed in the next couple of years. Currently, the network capacity is not capable of handling M2M and human-based communications, as well as their different communication patterns, including latency time. For this reason, a next-level cellular network for mobile communication featuring hyper-connectivity and larger bandwidth (e.g., 5G) is required. The M2M communication technology will be widely used in the coming years in heavy manufacturing industries and process industries (e.g., food industry) to increase the efficiency of different processes and reduce human intervention for machines.
  • M2M technology has opened new avenues for the industrial communication market. It enables enterprises to improve their productivity and safety in work environments, thus allowing them to attain better efficiencies. Such benefits of M2M communication are expected to further drive the industrial communication market.
  • Restraint: Absence of standardization in industrial communication protocols and interfaces
  • Industrial equipment or devices communicate through various interfaces, technologies, and protocols. The lack of standardization in these communication interfaces and protocols may result in the misrepresentation of data. The lack of standardization complicates the integration of systems and hinders the use of plug-and-play features for unrelated systems. For instance, most equipment manufacturers use their proprietary interface protocols to communicate with their devices, which results in communication challenges for the devices developed by other manufacturers.
  • Opportunity: Upsurge in demand for wireless networks
  • The rapid growth in the demand for wireless technologies, such as Bluetooth Smart, WirelessHART, WLAN, and Zigbee, is opening new growth opportunities for the industrial communication market, mainly for the oil & gas, electronics, and energy & power generation industries. Zigbee helps drive the market for low-cost wireless network solutions. The Zigbee IEEE 802.15.4 technology has been adopted by many organizations worldwide. Similarly, WirelessHART-enabled communication is becoming one of the most widely used options for signal transmission in process industries using HART communication. WLAN (IEEE 802.11) is used for high-performance infrastructure networks that are also suitable for industrial applications. Advancements in wireless communication technologies, especially cellular technologies, are helping various industries to monitor their assets across the world. These technologies enable efficient and universal communication for all industrial applications. In process and infrastructure applications, industrial wireless systems simplify the process of recording data from remote stations and field devices, which would otherwise be inaccessible for accomplishing the process. The speed and simplicity of the installation of wireless networks have also made them popular among industries, as they can be deployed to facilitate M2M communication even under extreme environments. All these factors have contributed to the growth of the market for wireless technologies for industrial communication, especially in highly industrialized regions, and are expected to drive the overall market in the coming years.
  • Challenge: Harsh field site conditions such as high-voltage transients, severe shocks and vibrations, and extremely high temperatures
  • Industrial communication technology is increasingly being deployed at remote field locations. Remote field locations are more prone to the effects of unfavorable and harsh conditions, such as high-voltage transients, shocks and vibrations, and extremely high temperatures. High voltage transients result from electrostatic discharge (ESD), surge, burst, electrical fast transients (EFT), and lightning strikes. Industrial switches should be capable of preventing high-voltage transients by providing high electromagnetic protection. Shock and vibration in machinery can separate networking wires meant for long-term exposure to shock and vibration, eventually resulting in electrical shorts, broken solder joints, loose printed circuit board (PCB) components, PCB delamination, and cracked device housings. Moreover, remote onsite locations may not have air conditioning; this raises the demand for switches with high-temperature tolerance and optimal heat dissipation to keep the switch lifecycle intact. Therefore, there is a requirement for robust industrial communication equipment to withstand harsh conditions.
  • Services offerings to witness highest CAGR during the forecast period
  • There is a growing requirement for services pertaining to industrial communication. Various services are provided by industrial communication market players, which can meet the application-specific needs of end users. Service providers provide customized network design and other related services, such as long-term maintenance contracts of installations, to cater to clients with specific requirements. They also provide remote support services for networks and can solve or manage network problems remotely. Companies such as Siemens and General Electric provide a separate services portfolio for this market.
  • Pharmaceutical and medical devices to witness highest CAGR during the forecast period
  • The pharmaceutical industry is evolving with the adoption of automation and sensing technologies. A pharmaceutical company generally has different plants or units for various processes, such as manufacturing and packaging. Chemical plants process various medicines, and the manufacturing and packaging plants pack these medicines into capsules and bottles. However, there must be proper communication between these units to ensure efficient production. Companies such as Rockwell Automation provide communication solutions for gaining real-time access and extended enterprise visibility into vital manufacturing data. This can enable businesses to improve their processes and provide organizations with better access to real-time production information. It also helps improve supply chain integration across a pharma facility.
  • Asia Pacific to witness highest CAGR during forecast period
  • Asia Pacific is currently the largest manufacturing hub for automotive and electronics companies. The manufacturing companies in Asia Pacific extensively adopt the smart factory concept for implementing advanced manufacturing technologies on the factory floor. This innovative concept has transformed the manufacturing sector in Asia Pacific and has increased the implementation of smart automation in factories. The growing acceptance of Industrial Revolution 4.0 in Asia Pacific is among the factors driving the growth of the industrial communication market in this region. Furthermore, an increase in factory automation in various industries to integrate wireless networking technologies for reliable and fast machine-to-machine communications led to the growth of the industrial communication market in Asia Pacific.
  • Recent Developments
  • In February 2023, Cisco Systems, Inc.has launched Meraki’s first 5G Cellular Gateways for fixed wireless access (FWA). The Cisco Meraki MG51 and MG51E cellular gateways provide a 5G powered, cloud first way of doing Wide Area Networking (WAN).
  • In April 2023, The Simatic S7-1500V is an expansion of Simatic Portfolio which meets special market requirements such as virtual hosting of PLC computing.
  • In December 2022, Rockwell Automation launched FactoryTalk Logix Echo streamlines the emulator process by allowing users to download straight to FactoryTalk Logix Echo without any adjustments. It provides the quick system performance, large capacity, and optimized productivity that a control system needs. ControlLogix 5580 controllers are multi-discipline controllers that may control distinct, motion, process, and safety applications.
  • In October 2022, for the first time in the United States, OMRON Corporation showcased their IoT Gateways. These capture correct data, link to the cloud reliably, and develop solutions to extend automation in our daily life.The company has created several lineups and hardware/software platforms that allow clients to quickly and freely customize features, resulting in faster and easier creation of IoT solutions.
  • In October 2022, Moxa, Inc launched the EDR-G9010 Series which is a secure router that includes a firewall, NAT, VPN, and a switch. With the inclusion of IDS/IPS, the EDR-G9010 Series is transformed into an industrial next-generation firewall, complete with risk detection and prevention features to defend critical infrastructure from cybersecurity assaults.
  • KEY MARKET SEGMENTS
  • By Offering
  • Introduction
  • Components
  • Switches
  • Gateways
  • Routers & WAP
  • Controllers & Connectors
  • Communication Interfaces & Converters
  • Power Supply Devices
  • Others
  • Software
  • Services
  • By Communication Protocol
  • Introduction
  • Fieldbus
  • Industrial Ethernet
  • Wireless
  • By Vertical
  • Introduction
  • Automotive
  • Electrical & Electronics
  • Aerospace & Defense
  • Oil & Gas
  • Chemicals & Fertilizers
  • Food & Beverages
  • Pharmaceuticals & Medical Devices
  • Energy & Power
  • Metals & Mining
  • Engineering / Fabrication
  • Water & Wastewater Management
  • Others
  • By Geography
  • Introduction
  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
  • ROW
  • Latin America
  • Middle East & Africa
  • KEY MARKET PLAYERS
  • Cisco Systems, Inc.
  • Siemens
  • Rockwell Automation
  • OMRON Corporation (Japan), Moxa Inc.
  • Huawei Technologies Co., Ltd.
  • SICK AG
  • Schneider Electric
  • ABB
  • Belden Inc.
  • GE
  • Advantech Co., Ltd
  • FANUC CORPORATION
  • Bosch Rexroth AG
  • AAEON Technology Inc.
  • HMS Networks
  • Honeywell International Inc.
  • Mitsubishi Electric Corporation
  • Ericsson
  • Hans Turck GmbH & Co. KG
  • ACS Motion Control
  • Eaton
  • Beckhoff Automation
  • Hitachi, Ltd.

SkyQuest's Expertise:

The Industrial Communication Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.

Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.

Scope Of Report

Report Attribute Details
The base year for estimation 2021
Historical data 2016 – 2022
Forecast period 2022 – 2028
Report coverage Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
Segments covered
  • By Offering - Introduction, Components, Switches, Gateways, Routers & WAP, Controllers & Connectors, Communication Interfaces & Converters, Power Supply Devices, Others, Software, Services
  • By Communication Protocol - Introduction, Fieldbus, Industrial Ethernet, Wireless
  • By Vertical - Introduction, Automotive, Electrical & Electronics, Aerospace & Defense, Oil & Gas, Chemicals & Fertilizers, Food & Beverages, Pharmaceuticals & Medical Devices, Energy & Power, Metals & Mining, Engineering / Fabrication, Water & Wastewater Management, Others
  • By Geography - Introduction, North America, US, Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, Japan, India, South Korea, Rest of Asia Pacific, ROW, Latin America, Middle East & Africa, KEY MARKET PLAYERS, Cisco Systems, Inc., Siemens, Rockwell Automation, OMRON Corporation (Japan), Moxa Inc., Huawei Technologies Co., Ltd., SICK AG, Schneider Electric, ABB, Belden Inc., GE, Advantech Co., Ltd, FANUC CORPORATION, Bosch Rexroth AG, AAEON Technology Inc., HMS Networks, Honeywell International Inc., Mitsubishi Electric Corporation, Ericsson, Hans Turck GmbH & Co. KG, ACS Motion Control, Eaton, Beckhoff Automation
Regional scope North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
Country scope U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa
Key companies profiled
  • ial communication market is projected to grow from USD 21.9 billion in 2023 to USD 29.0 billion by 2028; it is expected to grow at a CAGR of 5.7% from 2023 to 2028. Initiatives undertaken by governments of different countries to promote the adoption of industrial automation, the growing need for scalable, faster, reliable, and interoperable communication protocols, increasing use of machine-to-machine communication technology, and increasing use of digital twin to safely monitor smart manufacturing operations are among the factors driving the growth of industrial communication market.
  • Driver: Increasing use of machine-to-machine communication technology
  • Better connectivity for smooth communication and low power requirements are the key reasons for the increased adoption of new machine-to-machine (M2M) technologies. To achieve effective M2M communication, the existing capacity of mobile networks must be able to handle billions of nodes that are expected to be deployed in the next couple of years. Currently, the network capacity is not capable of handling M2M and human-based communications, as well as their different communication patterns, including latency time. For this reason, a next-level cellular network for mobile communication featuring hyper-connectivity and larger bandwidth (e.g., 5G) is required. The M2M communication technology will be widely used in the coming years in heavy manufacturing industries and process industries (e.g., food industry) to increase the efficiency of different processes and reduce human intervention for machines.
  • M2M technology has opened new avenues for the industrial communication market. It enables enterprises to improve their productivity and safety in work environments, thus allowing them to attain better efficiencies. Such benefits of M2M communication are expected to further drive the industrial communication market.
  • Restraint: Absence of standardization in industrial communication protocols and interfaces
  • Industrial equipment or devices communicate through various interfaces, technologies, and protocols. The lack of standardization in these communication interfaces and protocols may result in the misrepresentation of data. The lack of standardization complicates the integration of systems and hinders the use of plug-and-play features for unrelated systems. For instance, most equipment manufacturers use their proprietary interface protocols to communicate with their devices, which results in communication challenges for the devices developed by other manufacturers.
  • Opportunity: Upsurge in demand for wireless networks
  • The rapid growth in the demand for wireless technologies, such as Bluetooth Smart, WirelessHART, WLAN, and Zigbee, is opening new growth opportunities for the industrial communication market, mainly for the oil & gas, electronics, and energy & power generation industries. Zigbee helps drive the market for low-cost wireless network solutions. The Zigbee IEEE 802.15.4 technology has been adopted by many organizations worldwide. Similarly, WirelessHART-enabled communication is becoming one of the most widely used options for signal transmission in process industries using HART communication. WLAN (IEEE 802.11) is used for high-performance infrastructure networks that are also suitable for industrial applications. Advancements in wireless communication technologies, especially cellular technologies, are helping various industries to monitor their assets across the world. These technologies enable efficient and universal communication for all industrial applications. In process and infrastructure applications, industrial wireless systems simplify the process of recording data from remote stations and field devices, which would otherwise be inaccessible for accomplishing the process. The speed and simplicity of the installation of wireless networks have also made them popular among industries, as they can be deployed to facilitate M2M communication even under extreme environments. All these factors have contributed to the growth of the market for wireless technologies for industrial communication, especially in highly industrialized regions, and are expected to drive the overall market in the coming years.
  • Challenge: Harsh field site conditions such as high-voltage transients, severe shocks and vibrations, and extremely high temperatures
  • Industrial communication technology is increasingly being deployed at remote field locations. Remote field locations are more prone to the effects of unfavorable and harsh conditions, such as high-voltage transients, shocks and vibrations, and extremely high temperatures. High voltage transients result from electrostatic discharge (ESD), surge, burst, electrical fast transients (EFT), and lightning strikes. Industrial switches should be capable of preventing high-voltage transients by providing high electromagnetic protection. Shock and vibration in machinery can separate networking wires meant for long-term exposure to shock and vibration, eventually resulting in electrical shorts, broken solder joints, loose printed circuit board (PCB) components, PCB delamination, and cracked device housings. Moreover, remote onsite locations may not have air conditioning; this raises the demand for switches with high-temperature tolerance and optimal heat dissipation to keep the switch lifecycle intact. Therefore, there is a requirement for robust industrial communication equipment to withstand harsh conditions.
  • Services offerings to witness highest CAGR during the forecast period
  • There is a growing requirement for services pertaining to industrial communication. Various services are provided by industrial communication market players, which can meet the application-specific needs of end users. Service providers provide customized network design and other related services, such as long-term maintenance contracts of installations, to cater to clients with specific requirements. They also provide remote support services for networks and can solve or manage network problems remotely. Companies such as Siemens and General Electric provide a separate services portfolio for this market.
  • Pharmaceutical and medical devices to witness highest CAGR during the forecast period
  • The pharmaceutical industry is evolving with the adoption of automation and sensing technologies. A pharmaceutical company generally has different plants or units for various processes, such as manufacturing and packaging. Chemical plants process various medicines, and the manufacturing and packaging plants pack these medicines into capsules and bottles. However, there must be proper communication between these units to ensure efficient production. Companies such as Rockwell Automation provide communication solutions for gaining real-time access and extended enterprise visibility into vital manufacturing data. This can enable businesses to improve their processes and provide organizations with better access to real-time production information. It also helps improve supply chain integration across a pharma facility.
  • Asia Pacific to witness highest CAGR during forecast period
  • Asia Pacific is currently the largest manufacturing hub for automotive and electronics companies. The manufacturing companies in Asia Pacific extensively adopt the smart factory concept for implementing advanced manufacturing technologies on the factory floor. This innovative concept has transformed the manufacturing sector in Asia Pacific and has increased the implementation of smart automation in factories. The growing acceptance of Industrial Revolution 4.0 in Asia Pacific is among the factors driving the growth of the industrial communication market in this region. Furthermore, an increase in factory automation in various industries to integrate wireless networking technologies for reliable and fast machine-to-machine communications led to the growth of the industrial communication market in Asia Pacific.
  • Recent Developments
  • In February 2023, Cisco Systems, Inc.has launched Meraki’s first 5G Cellular Gateways for fixed wireless access (FWA). The Cisco Meraki MG51 and MG51E cellular gateways provide a 5G powered, cloud first way of doing Wide Area Networking (WAN).
  • In April 2023, The Simatic S7-1500V is an expansion of Simatic Portfolio which meets special market requirements such as virtual hosting of PLC computing.
  • In December 2022, Rockwell Automation launched FactoryTalk Logix Echo streamlines the emulator process by allowing users to download straight to FactoryTalk Logix Echo without any adjustments. It provides the quick system performance, large capacity, and optimized productivity that a control system needs. ControlLogix 5580 controllers are multi-discipline controllers that may control distinct, motion, process, and safety applications.
  • In October 2022, for the first time in the United States, OMRON Corporation showcased their IoT Gateways. These capture correct data, link to the cloud reliably, and develop solutions to extend automation in our daily life.The company has created several lineups and hardware/software platforms that allow clients to quickly and freely customize features, resulting in faster and easier creation of IoT solutions.
  • In October 2022, Moxa, Inc launched the EDR-G9010 Series which is a secure router that includes a firewall, NAT, VPN, and a switch. With the inclusion of IDS/IPS, the EDR-G9010 Series is transformed into an industrial next-generation firewall, complete with risk detection and prevention features to defend critical infrastructure from cybersecurity assaults.
  • KEY MARKET SEGMENTS
  • By Offering
  • Introduction
  • Components
  • Switches
  • Gateways
  • Routers & WAP
  • Controllers & Connectors
  • Communication Interfaces & Converters
  • Power Supply Devices
  • Others
  • Software
  • Services
  • By Communication Protocol
  • Introduction
  • Fieldbus
  • Industrial Ethernet
  • Wireless
  • By Vertical
  • Introduction
  • Automotive
  • Electrical & Electronics
  • Aerospace & Defense
  • Oil & Gas
  • Chemicals & Fertilizers
  • Food & Beverages
  • Pharmaceuticals & Medical Devices
  • Energy & Power
  • Metals & Mining
  • Engineering / Fabrication
  • Water & Wastewater Management
  • Others
  • By Geography
  • Introduction
  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
  • ROW
  • Latin America
  • Middle East & Africa
  • KEY MARKET PLAYERS
  • Cisco Systems, Inc.
  • Siemens
  • Rockwell Automation
  • OMRON Corporation (Japan), Moxa Inc.
  • Huawei Technologies Co., Ltd.
  • SICK AG
  • Schneider Electric
  • ABB
  • Belden Inc.
  • GE
  • Advantech Co., Ltd
  • FANUC CORPORATION
  • Bosch Rexroth AG
  • AAEON Technology Inc.
  • HMS Networks
  • Honeywell International Inc.
  • Mitsubishi Electric Corporation
  • Ericsson
  • Hans Turck GmbH & Co. KG
  • ACS Motion Control
  • Eaton
  • Beckhoff Automation
  • Hitachi, Ltd.
Customization scope Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options Reap the benefits of customized purchase options to fit your specific research requirements.

Objectives of the Study

  • To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
  • To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
  • To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
  • To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
  • To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market

What does this Report Deliver?

  • Market Estimation for 20+ Countries
  • Historical data coverage: 2016 to 2022
  • Growth projections: 2022 to 2028
  • SkyQuest's premium market insights: Innovation matrix, IP analysis, Production Analysis, Value chain analysis, Technological trends, and Trade analysis
  • Customization on Segments, Regions, and Company Profiles
  • 100+ tables, 150+ Figures, 10+ matrix
  • Global and Country Market Trends
  • Comprehensive Mapping of Industry Parameters
  • Attractive Investment Proposition
  • Competitive Strategies Adopted by Leading Market Participants
  • Market drivers, restraints, opportunities, and its impact on the market
  • Regulatory scenario, regional dynamics, and insights of leading countries in each region
  • Segment trends analysis, opportunity, and growth
  • Opportunity analysis by region and country
  • Porter's five force analysis to know the market's condition
  • Pricing analysis
  • Parent market analysis
  • Product portfolio benchmarking

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Industrial Communication Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Industrial Communication Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)
  • ial communication market is projected to grow from USD 21.9 billion in 2023 to USD 29.0 billion by 2028; it is expected to grow at a CAGR of 5.7% from 2023 to 2028. Initiatives undertaken by governments of different countries to promote the adoption of industrial automation, the growing need for scalable, faster, reliable, and interoperable communication protocols, increasing use of machine-to-machine communication technology, and increasing use of digital twin to safely monitor smart manufacturing operations are among the factors driving the growth of industrial communication market.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Driver: Increasing use of machine-to-machine communication technology
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Better connectivity for smooth communication and low power requirements are the key reasons for the increased adoption of new machine-to-machine (M2M) technologies. To achieve effective M2M communication, the existing capacity of mobile networks must be able to handle billions of nodes that are expected to be deployed in the next couple of years. Currently, the network capacity is not capable of handling M2M and human-based communications, as well as their different communication patterns, including latency time. For this reason, a next-level cellular network for mobile communication featuring hyper-connectivity and larger bandwidth (e.g., 5G) is required. The M2M communication technology will be widely used in the coming years in heavy manufacturing industries and process industries (e.g., food industry) to increase the efficiency of different processes and reduce human intervention for machines.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • M2M technology has opened new avenues for the industrial communication market. It enables enterprises to improve their productivity and safety in work environments, thus allowing them to attain better efficiencies. Such benefits of M2M communication are expected to further drive the industrial communication market.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Restraint: Absence of standardization in industrial communication protocols and interfaces
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Industrial equipment or devices communicate through various interfaces, technologies, and protocols. The lack of standardization in these communication interfaces and protocols may result in the misrepresentation of data. The lack of standardization complicates the integration of systems and hinders the use of plug-and-play features for unrelated systems. For instance, most equipment manufacturers use their proprietary interface protocols to communicate with their devices, which results in communication challenges for the devices developed by other manufacturers.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Opportunity: Upsurge in demand for wireless networks
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The rapid growth in the demand for wireless technologies, such as Bluetooth Smart, WirelessHART, WLAN, and Zigbee, is opening new growth opportunities for the industrial communication market, mainly for the oil & gas, electronics, and energy & power generation industries. Zigbee helps drive the market for low-cost wireless network solutions. The Zigbee IEEE 802.15.4 technology has been adopted by many organizations worldwide. Similarly, WirelessHART-enabled communication is becoming one of the most widely used options for signal transmission in process industries using HART communication. WLAN (IEEE 802.11) is used for high-performance infrastructure networks that are also suitable for industrial applications. Advancements in wireless communication technologies, especially cellular technologies, are helping various industries to monitor their assets across the world. These technologies enable efficient and universal communication for all industrial applications. In process and infrastructure applications, industrial wireless systems simplify the process of recording data from remote stations and field devices, which would otherwise be inaccessible for accomplishing the process. The speed and simplicity of the installation of wireless networks have also made them popular among industries, as they can be deployed to facilitate M2M communication even under extreme environments. All these factors have contributed to the growth of the market for wireless technologies for industrial communication, especially in highly industrialized regions, and are expected to drive the overall market in the coming years.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Challenge: Harsh field site conditions such as high-voltage transients, severe shocks and vibrations, and extremely high temperatures
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Industrial communication technology is increasingly being deployed at remote field locations. Remote field locations are more prone to the effects of unfavorable and harsh conditions, such as high-voltage transients, shocks and vibrations, and extremely high temperatures. High voltage transients result from electrostatic discharge (ESD), surge, burst, electrical fast transients (EFT), and lightning strikes. Industrial switches should be capable of preventing high-voltage transients by providing high electromagnetic protection. Shock and vibration in machinery can separate networking wires meant for long-term exposure to shock and vibration, eventually resulting in electrical shorts, broken solder joints, loose printed circuit board (PCB) components, PCB delamination, and cracked device housings. Moreover, remote onsite locations may not have air conditioning; this raises the demand for switches with high-temperature tolerance and optimal heat dissipation to keep the switch lifecycle intact. Therefore, there is a requirement for robust industrial communication equipment to withstand harsh conditions.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Services offerings to witness highest CAGR during the forecast period
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • There is a growing requirement for services pertaining to industrial communication. Various services are provided by industrial communication market players, which can meet the application-specific needs of end users. Service providers provide customized network design and other related services, such as long-term maintenance contracts of installations, to cater to clients with specific requirements. They also provide remote support services for networks and can solve or manage network problems remotely. Companies such as Siemens and General Electric provide a separate services portfolio for this market.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Pharmaceutical and medical devices to witness highest CAGR during the forecast period
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The pharmaceutical industry is evolving with the adoption of automation and sensing technologies. A pharmaceutical company generally has different plants or units for various processes, such as manufacturing and packaging. Chemical plants process various medicines, and the manufacturing and packaging plants pack these medicines into capsules and bottles. However, there must be proper communication between these units to ensure efficient production. Companies such as Rockwell Automation provide communication solutions for gaining real-time access and extended enterprise visibility into vital manufacturing data. This can enable businesses to improve their processes and provide organizations with better access to real-time production information. It also helps improve supply chain integration across a pharma facility.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Asia Pacific to witness highest CAGR during forecast period
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Asia Pacific is currently the largest manufacturing hub for automotive and electronics companies. The manufacturing companies in Asia Pacific extensively adopt the smart factory concept for implementing advanced manufacturing technologies on the factory floor. This innovative concept has transformed the manufacturing sector in Asia Pacific and has increased the implementation of smart automation in factories. The growing acceptance of Industrial Revolution 4.0 in Asia Pacific is among the factors driving the growth of the industrial communication market in this region. Furthermore, an increase in factory automation in various industries to integrate wireless networking technologies for reliable and fast machine-to-machine communications led to the growth of the industrial communication market in Asia Pacific.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Recent Developments
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In February 2023, Cisco Systems, Inc.has launched Meraki’s first 5G Cellular Gateways for fixed wireless access (FWA). The Cisco Meraki MG51 and MG51E cellular gateways provide a 5G powered, cloud first way of doing Wide Area Networking (WAN).
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In April 2023, The Simatic S7-1500V is an expansion of Simatic Portfolio which meets special market requirements such as virtual hosting of PLC computing.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In December 2022, Rockwell Automation launched FactoryTalk Logix Echo streamlines the emulator process by allowing users to download straight to FactoryTalk Logix Echo without any adjustments. It provides the quick system performance, large capacity, and optimized productivity that a control system needs. ControlLogix 5580 controllers are multi-discipline controllers that may control distinct, motion, process, and safety applications.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In October 2022, for the first time in the United States, OMRON Corporation showcased their IoT Gateways. These capture correct data, link to the cloud reliably, and develop solutions to extend automation in our daily life.The company has created several lineups and hardware/software platforms that allow clients to quickly and freely customize features, resulting in faster and easier creation of IoT solutions.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In October 2022, Moxa, Inc launched the EDR-G9010 Series which is a secure router that includes a firewall, NAT, VPN, and a switch. With the inclusion of IDS/IPS, the EDR-G9010 Series is transformed into an industrial next-generation firewall, complete with risk detection and prevention features to defend critical infrastructure from cybersecurity assaults.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • KEY MARKET SEGMENTS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Offering
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Introduction
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Components
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Switches
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Gateways
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Routers & WAP
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Controllers & Connectors
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Communication Interfaces & Converters
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Power Supply Devices
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Others
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Software
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Services
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Communication Protocol
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Introduction
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Fieldbus
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Industrial Ethernet
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Wireless
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Vertical
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Introduction
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Automotive
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Electrical & Electronics
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Aerospace & Defense
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Oil & Gas
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Chemicals & Fertilizers
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Food & Beverages
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Pharmaceuticals & Medical Devices
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Energy & Power
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Metals & Mining
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Engineering / Fabrication
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Water & Wastewater Management
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Others
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Geography
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Introduction
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • North America
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • US
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Canada
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Mexico
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Europe
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • UK
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Germany
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • France
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Spain
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Italy
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rest of Europe
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Asia Pacific
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • China
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Japan
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • India
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • South Korea
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rest of Asia Pacific
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • ROW
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Latin America
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Middle East & Africa
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • KEY MARKET PLAYERS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Cisco Systems, Inc.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Siemens
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rockwell Automation
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • OMRON Corporation (Japan), Moxa Inc.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Huawei Technologies Co., Ltd.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • SICK AG
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Schneider Electric
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • ABB
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Belden Inc.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • GE
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Advantech Co., Ltd
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • FANUC CORPORATION
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Bosch Rexroth AG
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • AAEON Technology Inc.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • HMS Networks
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Honeywell International Inc.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Mitsubishi Electric Corporation
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Ericsson
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Hans Turck GmbH & Co. KG
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • ACS Motion Control
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Eaton
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Beckhoff Automation
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Hitachi, Ltd.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments

Methodology

For the Industrial Communication Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Communication Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Communication Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Industrial Communication Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

The global market for Industrial Communication was estimated to be valued at US$ XX Mn in 2021.

The global Industrial Communication Market is estimated to grow at a CAGR of XX% by 2028.

The global Industrial Communication Market is segmented on the basis of Offering, Communication Protocol, Vertical, Geography.

Based on region, the global Industrial Communication Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the global Industrial Communication Market are ial communication market is projected to grow from USD 21.9 billion in 2023 to USD 29.0 billion by 2028; it is expected to grow at a CAGR of 5.7% from 2023 to 2028. Initiatives undertaken by governments of different countries to promote the adoption of industrial automation, the growing need for scalable, faster, reliable, and interoperable communication protocols, increasing use of machine-to-machine communication technology, and increasing use of digital twin to safely monitor smart manufacturing operations are among the factors driving the growth of industrial communication market. , Driver: Increasing use of machine-to-machine communication technology , Better connectivity for smooth communication and low power requirements are the key reasons for the increased adoption of new machine-to-machine (M2M) technologies. To achieve effective M2M communication, the existing capacity of mobile networks must be able to handle billions of nodes that are expected to be deployed in the next couple of years. Currently, the network capacity is not capable of handling M2M and human-based communications, as well as their different communication patterns, including latency time. For this reason, a next-level cellular network for mobile communication featuring hyper-connectivity and larger bandwidth (e.g., 5G) is required. The M2M communication technology will be widely used in the coming years in heavy manufacturing industries and process industries (e.g., food industry) to increase the efficiency of different processes and reduce human intervention for machines. , M2M technology has opened new avenues for the industrial communication market. It enables enterprises to improve their productivity and safety in work environments, thus allowing them to attain better efficiencies. Such benefits of M2M communication are expected to further drive the industrial communication market. , Restraint: Absence of standardization in industrial communication protocols and interfaces , Industrial equipment or devices communicate through various interfaces, technologies, and protocols. The lack of standardization in these communication interfaces and protocols may result in the misrepresentation of data. The lack of standardization complicates the integration of systems and hinders the use of plug-and-play features for unrelated systems. For instance, most equipment manufacturers use their proprietary interface protocols to communicate with their devices, which results in communication challenges for the devices developed by other manufacturers. , Opportunity: Upsurge in demand for wireless networks , The rapid growth in the demand for wireless technologies, such as Bluetooth Smart, WirelessHART, WLAN, and Zigbee, is opening new growth opportunities for the industrial communication market, mainly for the oil & gas, electronics, and energy & power generation industries. Zigbee helps drive the market for low-cost wireless network solutions. The Zigbee IEEE 802.15.4 technology has been adopted by many organizations worldwide. Similarly, WirelessHART-enabled communication is becoming one of the most widely used options for signal transmission in process industries using HART communication. WLAN (IEEE 802.11) is used for high-performance infrastructure networks that are also suitable for industrial applications. Advancements in wireless communication technologies, especially cellular technologies, are helping various industries to monitor their assets across the world. These technologies enable efficient and universal communication for all industrial applications. In process and infrastructure applications, industrial wireless systems simplify the process of recording data from remote stations and field devices, which would otherwise be inaccessible for accomplishing the process. The speed and simplicity of the installation of wireless networks have also made them popular among industries, as they can be deployed to facilitate M2M communication even under extreme environments. All these factors have contributed to the growth of the market for wireless technologies for industrial communication, especially in highly industrialized regions, and are expected to drive the overall market in the coming years. , Challenge: Harsh field site conditions such as high-voltage transients, severe shocks and vibrations, and extremely high temperatures , Industrial communication technology is increasingly being deployed at remote field locations. Remote field locations are more prone to the effects of unfavorable and harsh conditions, such as high-voltage transients, shocks and vibrations, and extremely high temperatures. High voltage transients result from electrostatic discharge (ESD), surge, burst, electrical fast transients (EFT), and lightning strikes. Industrial switches should be capable of preventing high-voltage transients by providing high electromagnetic protection. Shock and vibration in machinery can separate networking wires meant for long-term exposure to shock and vibration, eventually resulting in electrical shorts, broken solder joints, loose printed circuit board (PCB) components, PCB delamination, and cracked device housings. Moreover, remote onsite locations may not have air conditioning; this raises the demand for switches with high-temperature tolerance and optimal heat dissipation to keep the switch lifecycle intact. Therefore, there is a requirement for robust industrial communication equipment to withstand harsh conditions. , Services offerings to witness highest CAGR during the forecast period , There is a growing requirement for services pertaining to industrial communication. Various services are provided by industrial communication market players, which can meet the application-specific needs of end users. Service providers provide customized network design and other related services, such as long-term maintenance contracts of installations, to cater to clients with specific requirements. They also provide remote support services for networks and can solve or manage network problems remotely. Companies such as Siemens and General Electric provide a separate services portfolio for this market. , Pharmaceutical and medical devices to witness highest CAGR during the forecast period , The pharmaceutical industry is evolving with the adoption of automation and sensing technologies. A pharmaceutical company generally has different plants or units for various processes, such as manufacturing and packaging. Chemical plants process various medicines, and the manufacturing and packaging plants pack these medicines into capsules and bottles. However, there must be proper communication between these units to ensure efficient production. Companies such as Rockwell Automation provide communication solutions for gaining real-time access and extended enterprise visibility into vital manufacturing data. This can enable businesses to improve their processes and provide organizations with better access to real-time production information. It also helps improve supply chain integration across a pharma facility. , Asia Pacific to witness highest CAGR during forecast period , Asia Pacific is currently the largest manufacturing hub for automotive and electronics companies. The manufacturing companies in Asia Pacific extensively adopt the smart factory concept for implementing advanced manufacturing technologies on the factory floor. This innovative concept has transformed the manufacturing sector in Asia Pacific and has increased the implementation of smart automation in factories. The growing acceptance of Industrial Revolution 4.0 in Asia Pacific is among the factors driving the growth of the industrial communication market in this region. Furthermore, an increase in factory automation in various industries to integrate wireless networking technologies for reliable and fast machine-to-machine communications led to the growth of the industrial communication market in Asia Pacific. , Recent Developments , In February 2023, Cisco Systems, Inc.has launched Meraki’s first 5G Cellular Gateways for fixed wireless access (FWA). The Cisco Meraki MG51 and MG51E cellular gateways provide a 5G powered, cloud first way of doing Wide Area Networking (WAN). , In April 2023, The Simatic S7-1500V is an expansion of Simatic Portfolio which meets special market requirements such as virtual hosting of PLC computing. , In December 2022, Rockwell Automation launched FactoryTalk Logix Echo streamlines the emulator process by allowing users to download straight to FactoryTalk Logix Echo without any adjustments. It provides the quick system performance, large capacity, and optimized productivity that a control system needs. ControlLogix 5580 controllers are multi-discipline controllers that may control distinct, motion, process, and safety applications. , In October 2022, for the first time in the United States, OMRON Corporation showcased their IoT Gateways. These capture correct data, link to the cloud reliably, and develop solutions to extend automation in our daily life.The company has created several lineups and hardware/software platforms that allow clients to quickly and freely customize features, resulting in faster and easier creation of IoT solutions. , In October 2022, Moxa, Inc launched the EDR-G9010 Series which is a secure router that includes a firewall, NAT, VPN, and a switch. With the inclusion of IDS/IPS, the EDR-G9010 Series is transformed into an industrial next-generation firewall, complete with risk detection and prevention features to defend critical infrastructure from cybersecurity assaults. , KEY MARKET SEGMENTS, By Offering , Introduction , Components , Switches , Gateways , Routers & WAP , Controllers & Connectors , Communication Interfaces & Converters , Power Supply Devices , Others , Software , Services , By Communication Protocol , Introduction , Fieldbus , Industrial Ethernet , Wireless , By Vertical , Introduction , Automotive , Electrical & Electronics , Aerospace & Defense , Oil & Gas , Chemicals & Fertilizers , Food & Beverages , Pharmaceuticals & Medical Devices , Energy & Power , Metals & Mining , Engineering / Fabrication , Water & Wastewater Management , Others , By Geography , Introduction , North America , US , Canada , Mexico , Europe , UK , Germany , France , Spain , Italy , Rest of Europe , Asia Pacific , China , Japan , India , South Korea , Rest of Asia Pacific , ROW , Latin America , Middle East & Africa, KEY MARKET PLAYERS , Cisco Systems, Inc. , Siemens , Rockwell Automation , OMRON Corporation (Japan), Moxa Inc. , Huawei Technologies Co., Ltd. , SICK AG , Schneider Electric , ABB , Belden Inc. , GE , Advantech Co., Ltd , FANUC CORPORATION , Bosch Rexroth AG , AAEON Technology Inc. , HMS Networks , Honeywell International Inc. , Mitsubishi Electric Corporation , Ericsson , Hans Turck GmbH & Co. KG , ACS Motion Control , Eaton , Beckhoff Automation , Hitachi, Ltd. .

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