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Industrial communication systems are communication protocols that have a set of rules used for data exchange between various automation systems and related equipment's. These systems increase the productivity, efficiency, and accuracy and systems allow integration of data networks that are highly futuristic.
Currently, industrial communication is used for diverse and wide-ranging technology which includes software, services and components such as memory, power supply devices, connectors, communication interfaces, LED Displays, controllers, processors, etc. and also includes wired and wireless communication systems between devices.
IC is the key to greater productivity for any organization as it helps the enterprise in controlling machines and entire production line, monitor modern traffic systems and control power distribution. It enables the transfer of large amounts of data in real-time and with minimum delay, operate in an energy efficient manner and connect a large number of individual devices with security along with several other functions.
The industrial communication market is projected to experience rapid growth at a robust CAGR in the near future.
The growth of this market is attributed towards major relying factors which include; the rising demand for wireless networks and IIOT, widespread adoption of Industry 4.0 revolution, growing adoption of advanced communication protocols among industries, growing need for scalable, faster, reliable, and interoperable communication protocols, rise in number of initiatives by government and other regulatory bodies to assist industrial automation, persistent rise in machine-to-machine communication, increase in use of digital twin to safely monitor smart manufacturing operations and the growing need for interconnectivity between various devices and sharing of data etc.
Additionally, as digitalization is increasing, the need for effective communication technology also propels. The earlier communication protocols are not able to cope up with the explosion of digital data and latency-sensitive application. To address this, organizations are shifting toward more advanced and flexible industrial ethernet protocols which provide low deterministic and latency responses. These protocols also provide a flexible number of nodes and flexible network topology in the system, making them ideal for industrial communication application.
Moreover, growing number of end-user industries such as aerospace, transportation and automotive, defense, paper, cement, electrical and electronics, energy and power, pharmaceutical, oil and gas, food and beverages, mining, glass, fabrication or engineering, water and wastewater, and chemicals and fertilizers will benefit the market for industrial communication, thereby driving the market globally.
Furthermore, several advantages to the implementation of industrial communication such as the increase in the efficiency of the communication protocol, as well as the automation of industrial processes scales the market as well as the usage and preference of standardized wireless technologies such as Bluetooth technology and wireless WLAN which contribute towards growth.
However, factors such as various threats and risks associated with data and cyber security, the presence of traditional communication technology and harsh industrial environment, lack of standardization in industrial communication protocols and interfaces are expected to hinder the market growth.
INDUSTRIAL COMMUNICATION MARKET SEGMENTATION:
By Communication Protocol:
By End-use Application:
The APAC region is the fastest growing region in this market owing to the rapid industrialization in countries including India, China, Japan and Indonesia, increasing adoption of advanced technology and automation, favorable government initiatives, availability of cost-effective labor, large-scale development with the use of advanced technologies for manufacturing in the region etc.
The North American region is estimated to account for the largest share in terms of revenue in this market. This can be attributed to the advancements in technology and prevalence of Internet of Things in the region along with the increase in supportive government initiatives and policies etc.
The European region currently holds a significant share and is projected to account for steady growth in this market in the near future due to the high adoption rate of various industry verticals towards advanced technologies, massively increasing investments in the Industry 4.0 and industrial IoT space, growing government support and initiatives for the purpose of elimination of barriers and bringing in adoption of new and advanced digitalization in the region etc. The major contributors in the region include Germany, France, and the UK.
FEW KEY PLAYERS IN INDUSTRIAL COMMUNICATION MARKET:
In November 2020, SmartWave Technologiesreportedly announced its acquisition of Multi-Tech Systems, Inc., a global supplier of Industrial IoT communication devices and services. SmartWave Technologies, a provider of industrial IoT end devices, and MultiTech will operate as one under the MultiTech brand.
In November 2020, Patton Electronics, a US manufacturer reportedly released a new US-Manufactured C1D2 Industrial Ethernet Switch for Deployment in hazardous environments which further expanded the company’s already-extensive portfolio of industrial-communication products.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global industrial communication market by the following segments:
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Industrial Communication Industry Report
The report offers a comprehensive insight on the Industrial Communication Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.