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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