Industrial Communication Market by Offering (Component, Software and Services), Communication Protocol (Fieldbus, Industrial Ethernet and Wireless), Vertical (Automotive, Engineering/Fabrication) and Region - Global Forecast to 2027
Updated on : January 31, 2023
The industrial communication market size is projected to reach USD 26.8 billion by 2027, growing at a CAGR of 7.4% during the forecast period.
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 industry.
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. The industrial communication market has been segmented based on offering, communication protocol, vertical, and geography. These market segments are further analyzed on the basis of market trends across the four regions considered in this study.
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Impact of COVID-19
COVID-19 has negatively impacted the industrial communication market as supply chains are disturbed worldwide, and a huge workforce across the world is working from home. Industrial communication products and solution vendors are working hard to support employees, customers, and channel partners to stabilize their business operations with the integration of Cloud in industrial communication solutions. Hence, the COVID-19 pandemic has also opened new avenues for the market's growth.
Industrial Communication Market Dynamics
How is industrial communications enabling a growing need for scalable, faster, reliable, and interoperable communication protocols?
According to the MarketsandMarkets analysis, the industrial ethernet market was valued at USD 9.2 billion in 2020 and is projected to reach USD 13.7 billion by 2026, growing at a CAGR of 7.3% during the forecast period. Industrial Ethernet is important for achieving complete transparency within an industrial plant, as well as between the plant and enterprise networks. A reliable communication network is the core of the Industry 4.0 concept. Both industrial automation and industrial communication networks are closely dependent on real-time operational needs. Hence, they must be able to handle information in a deterministic and redundant method. The networks must be scalable across a wide range of equipment operating on multiple different standards with various interfaces. A factory system should be capable of offering faster response times, better efficiency, and greater reliability. To achieve these benefits, designers must select the best communication technology, navigate a multiprotocol environment, and cover a wide range of industrial equipment. Therefore, the need for scalable and interoperable protocols are driving industry initiatives to develop a newer set of communication products.
Recent Developments in Industrial Communication
- On March 16, 2022, Moxa (US), a leader in industrial communications and networking, launched its next-generation industrial Ethernet switches, the EDS-4000/G4000 Series. The EDS-4000/G4000 series includes 68 models to help Moxa’s customers build future-proof industrial networks to strengthen operational resilience in industrial spaces such as power, transportation, maritime, and factory automation.
- On June 17, 2021, Analog Devices (US) expanded its ADI Chronous Industrial Ethernet portfolio with solutions that bring long-reach Ethernet connectivity from the edge to the Cloud and enable real-time configurability, lower energy consumption, and increased asset utilization. The new ADI Chronous offerings support the 10BASE-T1L physical layer Ethernet standard allowing new data streams from edge nodes in remote and hazardous locations across process and building facilities.
How is the absence of standardization in industrial communication protocols and interfaces leading to difficulties?
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.
Another problem faced by the developers of industrial software and systems is the lack of access to data of plants. The absence of this critical data poses a challenge in the standardization and interoperability metrics for industrial devices developed by different companies. As several manufacturers are making efforts to achieve high production efficiency, the exchange of key inputs related to manufacturing plants is expected to increase in the coming years.
Is 5G expected to offer lucrative opportunities for growth of Industrial IoT?
Industrial communication is a vital element of Industry 4.0. While companies are vying to make their production process smart, they must consider the most advanced communication technology to achieve that. 5G assures to overcome the shortcomings of other wireless systems. With the onset of 5G technology, the manufacturing industry will experience its biggest transformation. Owing to the ultra-low latency and reliability of 5G connectivity, safe, flexible, and more efficient manufacturing systems are possible. 5G enables continued automation of robots and warehouse transportation and eliminates the use of cables.
- On October 25, 2021, Ericsson (Sweden), a leading provider of 5G infrastructure for industrial connectivity, launched its time-critical communication solution for real-time 5G experiences. The new software toolbox delivers consistent low latency and high reliability in 5G networks. Time-Critical Communication will elevate experiences in use cases such as cloud gaming, AR/VR, and unlock new ones in remote control, mobility automation, and industrial control. The new Critical IoT software product can be easily deployed on public and private networks on any 5G frequency band.
- On November 16, 2020, Siemens (Germany), a leading provider of industrial automation products and solutions worldwide, launched its first 5G router for industrial applications. The SCALANCE MUM856-1 is an IP65-rated wireless router that supports 5G for both public and private networks. The device, which also supports existing 3G and 4G (LTE) standards, can be configured with Siemens’ SINEMA Remote Connect VPN management platform.
How are threats related to cybersecurity negatively affecting the market?
The increasing cybersecurity threats pose a major challenge for the industrial communication solutions providers due to the ever-increasing instances of virus attacks and hacking. The vital information in computer systems may be tampered with by viruses, which can cause a significant loss to industries. Thus, the entire information flow could be disrupted if communication software systems are not protected with proper security measures. There is an increasing dependence on web-based communication and off-the-shelf IT solutions that are being used extensively in the industrial sector. The industries implementing such communications are, therefore, prone to malware targeted at industrial systems. With the rise in cyberattacks over the past decade on critical infrastructure, cybersecurity is becoming a central concern among industrial automation users and vendors. For instance, ransomware is a type of computer malware that has replaced the advanced persistent threat (APT) network attacks. This attack was first detected in the last decade and is considered to be one of the major cybersecurity threats today.
Market Interconnections
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Components to account for the largest share of the industrial communication market in 2022
Devices such as IP phones and PCs are connected to the Internet to enable rapid communication in industries. Machine-to-machine (M2M)f communication in the industrial environment helps facilitate efficient plant operations. M2M communication accelerates operations and ensures higher reliability and robustness across various industries, such as automotive, transportation, aerospace & defense, pharmaceuticals, and food & beverages.
Industrial ethernet segment to dominate industrial communication market during the forecast period
Industrial Ethernet refers to the use of Ethernet in an industry-specific environment with supporting protocols such as EtherCAT, EtherNet/IP, PROFINET, POWERLINK, SERCOS III, and CC-Link IE to provide real-time control over the data transfer. It is used in rugged industrial environments for automation or process control. The popularity and reach of Industrial Ethernet are increasing due to its features such as higher speed, increased connection distance, and the ability to connect more nodes, which is perfectly suitable for applications in process industries.
Automotive Vertical to register the highest share for industrial communication market in 2022
The automotive industry continues to evolve at an impressive pace with the adoption of automation and connectivity. However, component manufacturers strive to address the growing need for bandwidth and cost-effectiveness. Automotive is amongst the largest industries and one of the oldest applications of industrial communication. It would continue to dominate the industrial communication market due to the growing need for advanced automation in automobile manufacturing hubs worldwide.
Market in APAC estimated to have the largest share during the forecast period
Asia Pacific is currently the largest manufacturing hub for automotive and electronics companies. To compete with other global players, the companies in Asia Pacific use advanced automation systems, which require highly reliable communication networks that can help in machine-to-machine (M2M) communication in plants. 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 also a factor driving the growth of the industrial communication market in this region.
Key Market Players in Industrial Communication Industry
Major industrial communication companies are include Cisco (US), Siemens (Germany), Rockwell Automation (US), Omron (Japan), Moxa (Taiwan), Huawei Technologies (China), SICK (Germany), Schneider Electric (France), ABB (Switzerland), Belden (US), GE Grid Solutions (France), Advantech (Taiwan), HMS Networks (Sweden), IFM Electronic (Germany), Mitsubishi Electric (Japan), Ericsson (Sweden), Honeywell (US), FANUC (Japan), AAEON (Taiwan), Turck (US), and Bosch Rexoth (Germany).
Industrial Communication Market Report Scope:
|
Report Metric |
Detail |
|
Market size available for years |
2018—2027 |
|
Base year |
2021 |
|
Forecast period |
2022—2027 |
|
Units |
Value (USD Billion/USD Million) |
|
Segments covered |
Offering, Communication Protocol, Vertical, and Geography |
|
Geographic regions covered |
North America, Europe, APAC, and RoW |
|
Companies covered |
Cisco (US), Siemens (Germany), Rockwell Automation (US), Omron (Japan), Moxa (Taiwan), Huawei Technologies (China), SICK (Germany), Schneider Electric (France), ABB (Switzerland), Belden (US), GE Grid Solutions (France), Advantech (Taiwan), HMS Networks (Sweden), IFM Electronic (Germany), Mitsubishi Electric (Japan), Erisccon (Sweden), Honeywell (US), FANUC (Japan), AAEON (Taiwan), Turck (US), and Bosch Rexoth (Germany) |
This report categorizes the industrial communication market based on offering, communication protocol, vertical, and geography.
Industrial Communication Market, by Offering:
- Components
- Software
- Services
Market, by Communication Protocol:
- Fieldbus
- Industrial Ethernet
- Wireless
Market, by Vertical:
- Automotive
- Electrical & Electronics
- Aerospace & Defense
- Water & Wastewater Management
- Food & Beverages
- Pharmaceuticals & Medical Devices
- Energy & Power
- Metals & Mining
- Chemicals & Fertilizers
- Engineering/Fabrication
- Others
Market, by Region:
-
North America
- US
- Canada
- Mexico
-
Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
-
APAC
- China
- Japan
- india
- South Korea
- Rest of APAC
-
RoW
- Latin America
- Middle East & Africa
Recent Developments Industrial Communication Market
- In April 2022, Cisco (US) and General Motors (US) had joined forces to modernize and automate the development process for performance testing vehicle development data, accelerating time-to-market for commercially ready vehicles. General Motors is the first auto manufacturer to deploy Cisco wireless backhaul technology for real-time, high-speed performance testing of pre-production vehicles.
- In May 2022, Siemens (Germany) announced its VXLAN transmission technology allows transmission of Profinet IO via a private 5G network, which allows data to be transmitted in real time for industrial applications.
- In September 2021, Cisco (US) has extended a joint five-year agreement with Telstra to provide advanced connectivity management for the Internet of Things (IoT) network with Telstra Control Center using Cisco’s SaaS platform. Together, this will empower autonomous industries and connected communities in Australia with smart infrastructure designed to support the future of connectivity with 5G.
Frequently Asked Questions (FAQ):
What will be the dynamics for industrial communication based on communication protocol?
Many industries are increasingly shifting toward advanced industrial automation to stay competitive in the current competitive environment. Automation enables industries to maximize productivity, achieve economies of scale, and enhance the quality of products. The increased connectivity in the world is inevitably boosting the connectivity on factory floors. Human-machine interfaces (HMIs), programmable logic controllers (PLCs), and various sensors, among others, need to be connected to the network in a scalable and efficient way. To connect these different devices efficiently, the industry has developed various protocols. Nowadays, many industry devices can connect through different protocols such as control area networks (CAN), Modbus, PROFIBUS, and CC-Link.
How will services play a role in the industrial communication market?
The need for consulting, integration, and support services for network management is increasing with the growing complexity of industrial communication networks. With the advancements in networking and other industrial communication technologies, industries are demanding better and more advanced network services. Service providers provide customized network design and other related services, such as long-term maintenance contracts of installations, to cater to the clients with specific requirements.
How is ethernet being deployed in industrial communications?
Ethernet dominates the local area communication in the computer field, and Ethernet and Fast Ethernet are being gradually unified for the upper-level communication in process control networks. The use of Ethernet in networked control systems has become a trend, and the digital interconnection, interoperability, and high open network performance of Ethernet are also in line with the characteristics of Fieldbus network control. Therefore, Ethernet has become a pivotal instrument in the development of Fieldbus technology.
How will wireless communication change the industrial communication landscape?
Wireless communication has a huge potential and plays an essential role in the modernization of plants by offering high bandwidth, covering a large area, and optimizing complex logistics and production processes. Wireless communication and related products have numerous applications, especially in industrial systems such as cranes, automated guided vehicle systems, remote control/remote maintenance systems, as well as in process industries for measuring physical parameters, such as pressure, temperature, and liquid levels.
What are the key players influencing market ecosystem? How do they contribute to the companies operating in the market space?
The adoption of the Industry 4.0 revolution is driving the industrial communication market. Various industries are witnessing digital disruption. Industries are leveraging advanced technologies and machines, such as automated machines, Industrial IoT, and additive manufacturing, along with advanced materials, to modify their business models and gain operational efficiency. This has enabled organizations to develop a smart supply chain, better manufacturing processes, and an efficient end-to-end ecosystem. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 21)
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 INDUSTRIAL COMMUNICATION MARKET SEGMENTATION
1.3.2 GEOGRAPHIC SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 27)
2.1 RESEARCH DATA
FIGURE 2 INDUSTRIAL COMMUNICATION MARKET: RESEARCH DESIGN
2.1.1 SECONDARY AND PRIMARY RESEARCH
FIGURE 3 RESEARCH APPROACH
2.1.2 SECONDARY DATA
TABLE 1 LIST OF SECONDARY SOURCES
2.1.2.1 Key secondary sources
2.1.3 PRIMARY DATA
2.1.3.1 Primary interviews with experts
2.1.3.2 Key industry insights
2.1.3.3 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach for arriving at market size using bottom-up analysis
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY (APPROACH 2): BOTTOM-UP (SUPPLY-SIDE)—ILLUSTRATION OF REVENUE ESTIMATION OF COMPANIES FROM SALES OF INDUSTRIAL COMMUNICATION PRODUCTS AND SOLUTIONS
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach for capturing market size using top-down analysis
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY (APPROACH 1): TOP-DOWN (SUPPLY SIDE)—REVENUE GENERATED FROM INDUSTRIAL COMMUNICATION PRODUCTS AND SOLUTIONS SALES
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 8 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 RISK ASSESSMENTS
TABLE 2 LIMITATIONS AND ASSOCIATED RISKS
2.6 LIMITATIONS
3 EXECUTIVE SUMMARY (Page No. - 39)
3.1 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST
TABLE 3 MARKET GROWTH ASSUMPTIONS OVER THE YEARS
TABLE 4 INDUSTRIAL COMMUNICATION MARKET, 2018–2021 (USD BILLION)
TABLE 5 INDUSTRIAL COMMUNICATION MARKET, 2022–2027 (USD BILLION)
FIGURE 9 EFFECT OF COVID-19 ON INDUSTRIAL COMMUNICATION MARKET
3.2 POST-COVID-19 SCENARIO
TABLE 6 POST-COVID-19 SCENARIO: INDUSTRIAL COMMUNICATION MARKET, 2022–2027 (USD BILLION)
3.3 OPTIMISTIC SCENARIO (POST-COVID-19)
TABLE 7 OPTIMISTIC SCENARIO (POST-COVID-19): INDUSTRIAL COMMUNICATION MARKET, 2022–2027 (USD BILLION)
3.4 PESSIMISTIC SCENARIO (POST-COVID-19)
TABLE 8 PESSIMISTIC SCENARIO (POST-COVID-19): INDUSTRIAL COMMUNICATION MARKET, 2022–2027 (USD BILLION)
3.4.1 PRE-COVID-19
3.4.2 POST-COVID-19
3.4.3 INDUSTRIAL IMPACT
3.4.4 REGIONAL IMPACT
FIGURE 10 WATER & WASTEWATER MANAGEMENT SEGMENT TO EXHIBIT HIGHEST CAGR IN INDUSTRIAL COMMUNICATION MARKET FROM 2022 TO 2027
FIGURE 11 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF INDUSTRIAL COMMUNICATION MARKET IN 2022
4 PREMIUM INSIGHTS (Page No. - 45)
4.1 ATTRACTIVE OPPORTUNITIES IN INDUSTRIAL COMMUNICATION MARKET
FIGURE 12 INCREASING DEMAND FOR INDUSTRIAL COMMUNICATION SOLUTIONS IN WATER & WASTEWATER MANAGEMENT TO DRIVE MARKET GROWTH DURING FORECAST PERIOD
4.2 INDUSTRIAL COMMUNICATION MARKET, BY OFFERING
FIGURE 13 INDUSTRIAL COMMUNICATION SERVICES MARKET TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
4.3 INDUSTRIAL COMMUNICATION MARKET, BY COMMUNICATION PROTOCOL AND VERTICAL
FIGURE 14 INDUSTRIAL ETHERNET SEGMENT AND AUTOMOTIVE VERTICAL TO HOLD LARGEST SIZE OF GLOBAL INDUSTRIAL COMMUNICATION MARKET IN 2022
4.4 INDUSTRIAL COMMUNICATION MARKET, BY GEOGRAPHY
FIGURE 15 INDUSTRIAL COMMUNICATION MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
5 MARKET OVERVIEW (Page No. - 48)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 16 INDUSTRIAL COMMUNICATION MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
FIGURE 17 INDUSTRIAL COMMUNICATION MARKET DRIVERS AND THEIR IMPACT
5.2.1.1 Growing need for scalable, faster, reliable, and interoperable communication protocols
5.2.1.1.1 Recent developments
5.2.1.2 Increasing use of digital twin to safely monitor smart manufacturing operations
5.2.1.2.1 Recent developments
5.2.1.3 Increasing use of machine-to-machine communication technology
5.2.1.3.1 Recent developments
5.2.1.4 Initiatives undertaken by governments of different countries to promote adoption of industrial automation
5.2.1.4.1 Recent developments
FIGURE 18 ANNUAL INSTALLATION OF INDUSTRIAL ROBOTS, BY COUNTRY, 2020 (THOUSAND UNITS)
5.2.2 RESTRAINTS
FIGURE 19 INDUSTRIAL COMMUNICATION MARKET RESTRAINT AND ITS IMPACT
5.2.2.1 Absence of standardization in industrial communication protocols and interfaces
5.2.3 OPPORTUNITIES
FIGURE 20 INDUSTRIAL COMMUNICATION MARKET OPPORTUNITIES AND THEIR IMPACT
5.2.3.1 5G is offering lucrative opportunities for growth of Industrial IoT
5.2.3.1.1 Recent developments
5.2.3.2 Upsurge in demand for wireless networks
5.2.4 CHALLENGES
FIGURE 21 INDUSTRIAL COMMUNICATION MARKET CHALLENGES AND THEIR IMPACT
5.2.4.1 Threats related to cybersecurity
5.2.4.2 Harsh field site conditions such as high-voltage transients, severe shocks and vibrations, and extremely high temperatures
5.3 VALUE CHAIN ANALYSIS
FIGURE 22 VALUE CHAIN ANALYSIS OF INDUSTRIAL COMMUNICATION MARKET
5.3.1 RESEARCH & DEVELOPMENT
5.3.2 COMPONENT MANUFACTURERS/ODMS
5.3.3 SYSTEM INTEGRATORS/SOLUTIONS PROVIDERS
5.3.4 MARKETING AND SALES
5.3.5 POST-SALES SERVICES
5.3.6 END-USER INDUSTRIES
5.4 TARIFF REGULATORY BODIES
5.4.1 ETHERCAT TECHNOLOGY GROUP (ETG)
5.4.2 INTERNATIONAL ELECTROTECHNICAL COMMISSION (IEC)
5.4.3 IEEE
5.4.4 INTERNATIONAL ORGANIZATION FOR STANDARDIZATION (ISO)
5.4.5 PROFIBUS USER ORGANIZATION (PNO)
5.5 TECHNOLOGY ANALYSIS
5.5.1 NEAR-FIELD COMMUNICATION (NFC)
5.5.2 TIME-SENSITIVE NETWORKING (TSN)
5.5.3 OPEN PLATFORM COMMUNICATION UNIFIED ARCHITECTURE (OPC UA)
5.5.4 VIRTUALIZATION
5.5.5 ADOPTION OF ETHERNET
5.6 USE CASES ANALYSIS
5.6.1 ADVANTECH’S EDGE SOLUTIONS TO ENABLE REAL-TIME OIL TANKER MONITORING
5.6.2 PULP MOLDING EQUIPMENT MANUFACTURER IMPLEMENTED ROCKWELL AUTOMATION’S SOLUTIONS
5.6.3 OSSID IMPROVES MACHINERY RELIABILITY AND PERFORMANCE USING MITSUBISHI ELECTRIC’S AUTOMATION PORTFOLIO
5.6.4 ADVANTECH PROVIDED WISE-PAAS END-TO-CLOUD IOT TOTAL SOLUTION FOR REMOTE VIDEO SURVEILLANCE AND DEVICE STATUS MONITORING AND CONTROL FOR AUTOMOTIVE INSPECTION CENTER
5.6.5 OPTIMA CONTROL SOLUTIONS (UK) AND ROCKWELL AUTOMATION (US) PROVIDED AN AUTOMATED MONITORING SOLUTION TO A BISCUIT MANUFACTURER
5.6.6 ADVANTECH (TAIWAN) PROVIDED A PLANT MONITORING SOLUTION FOR A WIND POWER PLANT
5.7 INDUSTRIAL COMMUNICATION ECOSYSTEM
FIGURE 23 INDUSTRIAL COMMUNICATION MARKET ECOSYSTEM
5.8 AVERAGE SELLING PRICE TRENDS
TABLE 9 PRICING ANALYSIS
5.9 NOTICEABLE PATENTS
TABLE 10 SOME PATENTS RELATED TO INDUSTRIAL COMMUNICATION
6 INDUSTRIAL COMMUNICATION MARKET, BY OFFERING (Page No. - 64)
6.1 INTRODUCTION
FIGURE 24 INDUSTRIAL COMMUNICATION MARKET, BY OFFERING
FIGURE 25 COMPONENTS TO CONTINUE TO ACCOUNT FOR LARGER SIZE OF INDUSTRIAL COMMUNICATION MARKET DURING 2022–2027
TABLE 11 INDUSTRIAL COMMUNICATION MARKET, BY OFFERING, 2018–2021 (USD BILLION)
TABLE 12 INDUSTRIAL COMMUNICATION MARKET, BY OFFERING, 2022–2027 (USD BILLION)
6.2 COMPONENTS
TABLE 13 INDUSTRIAL COMMUNICATION MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 14 INDUSTRIAL COMMUNICATION MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
6.2.1 SWITCHES
6.2.1.1 Switches are used to build network connections between different interconnected computers
6.2.2 GATEWAYS
6.2.2.1 Gateways are common connection points for regulating traffic between networks
6.2.3 ROUTERS & WAP
6.2.3.1 Routers examine destination IP address of data packets and use headers and forwarding tables to decide mode of packet transfer
6.2.4 CONTROLLERS & CONNECTORS
6.2.4.1 Ethernet controllers are widely popular controllers used in industrial communication
6.2.5 COMMUNICATION INTERFACES & CONVERTERS
6.2.5.1 Communication interfaces help in communicating with different network devices using certain protocols
6.2.6 POWER SUPPLY DEVICES
6.2.6.1 Power Management Integrated Circuits (pmics) are useful in communication power management
6.2.7 OTHERS
6.2.7.1 Other subcomponents include clocks, repeaters, isolators, LED displays, and cables
6.3 SOFTWARE
6.3.1 NETWORKING MANAGEMENT SOFTWARE OPTIMIZE NETWORK EFFICIENCY AND MINIMIZE TOTAL COST OF OWNERSHIP
6.4 SERVICES
6.4.1 INDUSTRIAL COMMUNICATION SERVICES MAINLY INCLUDE INSTALLATION, NETWORK SECURITY, AND NETWORK MONITORING SERVICES
7 INDUSTRIAL COMMUNICATION MARKET, BY COMMUNICATION PROTOCOL (Page No. - 72)
7.1 INTRODUCTION
FIGURE 26 INDUSTRIAL COMMUNICATION MARKET, BY COMMUNICATION PROTOCOL
FIGURE 27 INDUSTRIAL COMMUNICATION MARKET FOR WIRELESS COMMUNICATION PROTOCOL TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 15 INDUSTRIAL COMMUNICATION MARKET, BY COMMUNICATION PROTOCOL, 2018–2021 (USD BILLION)
TABLE 16 INDUSTRIAL COMMUNICATION MARKET, BY COMMUNICATION PROTOCOL, 2022–2027 (USD BILLION)
7.2 FIELDBUS
7.2.1 FIELDBUS CAN WORK ON MULTIPLE TOPOLOGIES, SUCH AS STAR, RING, BRANCH, AND TREE
TABLE 17 INDUSTRIAL COMMUNICATION MARKET FOR FIELDBUS, BY REGION, 2018–2021 (USD MILLION)
TABLE 18 INDUSTRIAL COMMUNICATION MARKET FOR FIELDBUS, BY REGION, 2022–2027 (USD MILLION)
TABLE 19 NDUSTRIAL COMMUNICATION MARKET FOR FIELDBUS IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 20 INDUSTRIAL COMMUNICATION MARKET FOR FIELDBUS IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 21 INDUSTRIAL COMMUNICATION MARKET FOR FIELDBUS IN EUROPE, BY COUNTRY, 2018–2021 (USD BILLION)
TABLE 22 INDUSTRIAL COMMUNICATION MARKET FOR FIELDBUS IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 23 INDUSTRIAL COMMUNICATION MARKET FOR FIELDBUS IN ASIA PACIFIC, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 24 INDUSTRIAL COMMUNICATION MARKET FOR FIELDBUS IN ASIA PACIFIC, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 25 INDUSTRIAL COMMUNICATION MARKET FOR FIELDBUS IN ROW, BY REGION, 2018–2021 (USD MILLION)
TABLE 26 INDUSTRIAL COMMUNICATION MARKET FOR FIELDBUS IN ROW, BY REGION, 2022–2027 (USD MILLION)
7.2.2 PROFIBUS
7.2.2.1 PROFIBUS links automation systems and controllers with decentralized field devices
7.2.3 MODBUS
7.2.3.1 Modbus can run over different communication media, including wired media, wireless media, and optical networks
7.2.4 CC-LINK
7.2.4.1 CC-Link is an open industrial network protocol that integrates system control and communication
7.2.5 DEVICENET
7.2.5.1 Devicenet facilitates communication between field-level and high-level devices
7.2.6 CANOPEN
7.2.6.1 Canopen is a high-level communication protocol based on CAN protocol
7.2.7 OTHERS
7.3 INDUSTRIAL ETHERNET
7.3.1 INDUSTRIAL ETHERNET PROVIDES HIGH-SPEED CONNECTION BETWEEN COMMUNICATION NODES
TABLE 27 INDUSTRIAL COMMUNICATION MARKET FOR INDUSTRIAL ETHERNET, BY REGION, 2018–2021 (USD MILLION)
TABLE 28 INDUSTRIAL COMMUNICATION MARKET FOR INDUSTRIAL ETHERNET, BY REGION, 2022–2027 (USD MILLION)
TABLE 29 INDUSTRIAL COMMUNICATION MARKET FOR INDUSTRIAL ETHERNET IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 30 INDUSTRIAL COMMUNICATION MARKET FOR INDUSTRIAL ETHERNET IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 31 INDUSTRIAL COMMUNICATION MARKET FOR INDUSTRIAL ETHERNET IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 32 INDUSTRIAL COMMUNICATION MARKET FOR INDUSTRIAL ETHERNET IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 33 INDUSTRIAL COMMUNICATION MARKET FOR INDUSTRIAL ETHERNET IN ASIA PACIFIC, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 34 INDUSTRIAL COMMUNICATION MARKET FOR INDUSTRIAL ETHERNET IN ASIA PACIFIC, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 35 INDUSTRIAL COMMUNICATION MARKET FOR INDUSTRIAL ETHERNET IN ROW, BY REGION, 2018–2021 (USD MILLION)
TABLE 36 INDUSTRIAL COMMUNICATION MARKET FOR INDUSTRIAL ETHERNET IN ROW, BY REGION, 2022–2027 (USD MILLION)
7.3.2 PROFINET
7.3.2.1 PROFINET supplements existing PROFIBUS technologies by providing faster data communication
7.3.3 ETHERNET/IP
7.3.3.1 Ethernet/IP is widely used in hybrid and process industries
7.3.4 ETHERCAT
7.3.4.1 Ethercat is specifically designed for fast control demand applications
7.3.5 MODBUS-TCP
7.3.5.1 MODBUS-TCP offers high level of interoperability for industrial communication network devices
7.3.6 POWERLINK
7.3.6.1 Ethernet Powerlink enables transfer of time-critical data in short duration
7.3.7 SERCOS III
7.3.7.1 SERCOS III provides low latency data transfer
7.3.8 CC-LINK IE
7.3.8.1 CC-Link IE supports flexible wiring topologies, such as star, ring, and line configuration
7.4 WIRELESS
7.4.1 WIRELESS COMMUNICATION OFFERS HIGH BANDWIDTH FOR COMPLEX LOGISTICS AND PRODUCTION PROCESSES
TABLE 37 INDUSTRIAL COMMUNICATION MARKET FOR WIRELESS PROTOCOL, BY REGION, 2018–2021 (USD MILLION)
TABLE 38 INDUSTRIAL COMMUNICATION MARKET FOR WIRELESS PROTOCOL, BY REGION, 2022–2027 (USD MILLION)
TABLE 39 INDUSTRIAL COMMUNICATION MARKET FOR WIRELESS PROTOCOL IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 40 INDUSTRIAL COMMUNICATION MARKET FOR WIRELESS PROTOCOL IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 41 INDUSTRIAL COMMUNICATION MARKET FOR WIRELESS PROTOCOL IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 42 INDUSTRIAL COMMUNICATION MARKET FOR WIRELESS PROTOCOL IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 43 INDUSTRIAL COMMUNICATION MARKET FOR WIRELESS PROTOCOL IN ASIA PACIFIC, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 44 INDUSTRIAL COMMUNICATION MARKET FOR WIRELESS PROTOCOL IN ASIA PACIFIC, BY COUNTRY, 2022–2027 (USD MILLION)
TABLE 45 INDUSTRIAL COMMUNICATION MARKET FOR WIRELESS PROTOCOL IN ROW, BY REGION, 2018–2021 (USD MILLION)
TABLE 46 INDUSTRIAL COMMUNICATION MARKET FOR WIRELESS PROTOCOL IN ROW, BY REGION, 2022–2027 (USD MILLION)
7.4.2 WLAN
7.4.2.1 WLAN provides wide area coverage and faster communication
7.4.3 ISA100.11A
7.4.3.1 ISA 100 operates in 2.4 MHz frequency range and can support up to 15 channels
7.4.4 CELLULAR
7.4.4.1 Cellular networks are ideal for IIot applications that require operations over long distances
7.4.5 ZIGBEE
7.4.5.1 Zigbee offers easy network expansion, low power consumption, good coverage area, and reliable network structure
7.4.6 WHART
7.4.6.1 WHART is an open industry standard designed for particular wireless communication requirements
7.4.7 OTHERS
8 INDUSTRIAL COMMUNICATION MARKET, BY VERTICAL (Page No. - 92)
8.1 INTRODUCTION
FIGURE 28 INDUSTRIAL COMMUNICATION MARKET, BY VERTICAL
FIGURE 29 AUTOMOTIVE TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL COMMUNICATION MARKET DURING 2022–2027
TABLE 47 INDUSTRIAL COMMUNICATION MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 48 INDUSTRIAL COMMUNICATION MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
8.2 AUTOMOTIVE
8.2.1 INCREASING PENETRATION OF INDUSTRIAL COMMUNICATION SOLUTIONS IN AUTOMOTIVE MANUFACTURING
8.3 ELECTRICAL & ELECTRONICS
8.3.1 INDUSTRIAL COMMUNICATION SOLUTIONS AID IN REDUCING DOWNTIME FOR ELECTRONICS MANUFACTURING
8.4 AEROSPACE & DEFENSE
8.4.1 RISING DEPLOYMENT OF INDUSTRIAL COMMUNICATION SOLUTIONS IN AEROSPACE & DEFENSE INDUSTRY TO ENSURE EFFECTIVE MANUFACTURING PROCESSES
8.5 OIL & GAS
8.5.1 INCREASING OFFSHORE OIL & GAS ACTIVITIES ARE LEADING TO RISING ADOPTION OF AUTOMATION SOLUTIONS
8.6 CHEMICALS & FERTILIZERS
8.6.1 INDUSTRIAL COMMUNICATION SOLUTIONS HELP IN ENSURING HIGH SAFETY LEVELS REQUIRED IN CHEMICAL INDUSTRY
8.7 FOOD & BEVERAGES
8.7.1 RAPID PENETRATION OF AUTOMATION IN FOOD & BEVERAGES INDUSTRY TO DRIVE DEMAND FOR INDUSTRIAL COMMUNICATION SOLUTIONS
8.8 PHARMACEUTICALS & MEDICAL DEVICES
8.8.1 PHARMACEUTICAL INDUSTRY IS EVOLVING THROUGH ADOPTION OF AUTOMATION AND SENSING TECHNOLOGIES
8.9 ENERGY & POWER
8.9.1 COMMUNICATION NETWORKS ARE ESSENTIAL FOR DATA RETRIEVAL IN ENERGY & POWER PLANTS
8.10 METALS & MINING
8.10.1 COMMUNICATION SOLUTIONS WILL AID IN ENSURING WORKER SAFETY IN MINING INDUSTRY
8.11 ENGINEERING/FABRICATION
8.11.1 NETWORKING TECHNOLOGIES ENSURE CONSISTENT, UNINTERRUPTED CONNECTIVITY FOR WORKERS IN FABRICATION PLANTS
8.12 WATER & WASTEWATER MANAGEMENT
8.12.1 LOW-COST, LOW-POWER SENSORS AND EDGE-COMPUTING DEVICES INCREASE EFFICIENCY IN WATER & WASTEWATER MANAGEMENT
8.13 OTHERS
8.13.1 INCORPORATION OF INDUSTRIAL COMMUNICATION SOLUTIONS TO ENHANCE PRODUCTIVITY IN PAPER & PULP INDUSTRY
9 INDUSTRIAL COMMUNICATION MARKET, BY GEOGRAPHY (Page No. - 105)
9.1 INTRODUCTION
FIGURE 30 INDUSTRIAL COMMUNICATION MARKET IN CHINA TO WITNESS HIGHEST CAGR DURING 2022–2027
TABLE 49 INDUSTRIAL COMMUNICATION MARKET, BY REGION, 2018–2021 (USD BILLION)
TABLE 50 INDUSTRIAL COMMUNICATION MARKET, BY REGION, 2022–2027 (USD BILLION)
9.2 NORTH AMERICA
FIGURE 31 NORTH AMERICA: INDUSTRIAL COMMUNICATION MARKET SNAPSHOT
9.2.1 US
9.2.1.1 Ideal environment for innovation in us has facilitated massive advancements in industrial communication
9.2.2 CANADA
9.2.2.1 Growing investments in process and discrete industries to contribute to market growth
9.2.3 MEXICO
9.2.3.1 Mexico is evolving as major industrial hub in North America
9.3 EUROPE
FIGURE 32 EUROPE: INDUSTRIAL COMMUNICATION MARKET SNAPSHOT
9.3.1 UK
9.3.1.1 Increasing adoption of automation to fuel growth of industrial communication market in UK
9.3.2 GERMANY
9.3.2.1 Growing demand for industrial communication solutions in automotive industry
9.3.3 FRANCE
9.3.3.1 Government initiatives promote adoption of industrial communication solutions in France
9.3.4 SPAIN
9.3.4.1 Market growth in Spain is driven by automotive industry
9.3.5 ITALY
9.3.5.1 Smart factories in Italy fuel growth of industrial communication market
9.3.6 REST OF EUROPE
9.3.6.1 Increasing demand for industrial communication solutions in petroleum and mining industry
9.4 ASIA PACIFIC
FIGURE 33 ASIA PACIFIC: INDUSTRIAL COMMUNICATION MARKET SNAPSHOT
9.4.1 CHINA
9.4.1.1 Surging use of industrial communication solutions in automotive industry of China
9.4.2 JAPAN
9.4.2.1 Ongoing technological developments in different industries are leading to deployment of advanced and highly precise automation solutions
9.4.3 INDIA
9.4.3.1 Increasing government investments in industrial automation to propel the market growth
9.4.4 SOUTH KOREA
9.4.4.1 South Korea is among the globally leading manufacturers of robots
9.4.5 REST OF ASIA PACIFIC
9.4.5.1 Government initiatives to encourage smart manufacturing to fuel market growth
9.5 REST OF THE WORLD (ROW)
FIGURE 34 ROW: INDUSTRIAL COMMUNICATION MARKET SNAPSHOT
9.5.1 LATIN AMERICA
9.5.1.1 Rising deployment of factory automation solutions in different industries in Latin America
9.5.2 MIDDLE EAST & AFRICA
9.5.2.1 Increasing adoption of automation solutions in oil & gas industry of Middle East
10 COMPETITIVE LANDSCAPE (Page No. - 120)
10.1 KEY PLAYER STRATEGIES/RIGHT TO WIN
FIGURE 35 STRATEGIES ADOPTED BY TOP 5 PLAYERS IN THE MARKET
10.2 OVERVIEW
10.3 TOP 5 COMPANY ANALYSIS
FIGURE 36 REVENUE ANALYSIS OF TOP 5 COMPANIES IN INDUSTRIAL COMMUNICATION MARKET, 2019–2021
10.4 MARKET SHARE ANALYSIS (2021)
TABLE 51 INDUSTRIAL COMMUNICATION MARKET: MARKET SHARE ANALYSIS
10.5 COMPANY EVALUATION QUADRANT, 2021
10.5.1 STAR
10.5.2 PERVASIVE
10.5.3 EMERGING LEADER
10.5.4 PARTICIPANT
FIGURE 37 INDUSTRIAL COMMUNICATION MARKET COMPANY EVALUATION QUADRANT, 2021
10.6 COMPETITIVE SCENARIO
TABLE 52 INDUSTRIAL COMMUNICATION MARKET: PRODUCT LAUNCHES, MARCH 2019−MAY 2022
TABLE 53 INDUSTRIAL COMMUNICATION MARKET: DEALS, MARCH 2019−MAY 2022
11 COMPANY PROFILES (Page No. - 128)
(Business overview, Products/Solutions/Services offered, Recent developments & MnM View)*
11.1 KEY PLAYERS
11.1.1 CISCO
TABLE 54 CISCO: BUSINESS OVERVIEW
FIGURE 38 CISCO SYSTEMS: COMPANY SNAPSHOT
TABLE 55 CISCO: PRODUCTS OFFERED
TABLE 56 CISCO: PRODUCT LAUNCHES
TABLE 57 CISCO: DEALS
11.1.2 SIEMENS
TABLE 58 SIEMENS: BUSINESS OVERVIEW
FIGURE 39 SIEMENS: COMPANY SNAPSHOT
TABLE 59 SIEMENS: PRODUCTS OFFERED
TABLE 60 SIEMENS: PRODUCT LAUNCHES
11.1.3 ROCKWELL AUTOMATION
TABLE 61 ROCKWELL AUTOMATION: BUSINESS OVERVIEW
FIGURE 40 ROCKWELL AUTOMATION: COMPANY SNAPSHOT
TABLE 62 ROCKWELL AUTOMATION: PRODUCTS OFFERED
TABLE 63 ROCKWELL AUTOMATION: PRODUCT LAUNCHES
TABLE 64 ROCKWELL AUTOMATION: DEALS
11.1.4 OMRON
TABLE 65 OMRON: BUSINESS OVERVIEW
FIGURE 41 OMRON: COMPANY SNAPSHOT
TABLE 66 OMRON: PRODUCTS OFFERED
TABLE 67 OMRON: PRODUCT LAUNCHES
TABLE 68 OMRON: DEALS
11.1.5 MOXA
TABLE 69 MOXA: BUSINESS OVERVIEW
TABLE 70 MOXA: PRODUCTS OFFERED
TABLE 71 MOXA: PRODUCT LAUNCHES
TABLE 72 MOXA: DEALS
11.1.6 HUAWEI TECHNOLOGIES
TABLE 73 HUAWEI TECHNOLOGIES: BUSINESS OVERVIEW
FIGURE 42 HUAWEI TECHNOLOGIES: COMPANY SNAPSHOT
TABLE 74 HUAWEI TECHNOLOGIES: PRODUCTS OFFERED
TABLE 75 HUAWEI TECHNOLOGIES: PRODUCT LAUNCHES
TABLE 76 HUAWEI TECHNOLOGIES: DEALS
11.1.7 SICK
TABLE 77 SICK: BUSINESS OVERVIEW
FIGURE 43 SICK: COMPANY SNAPSHOT
TABLE 78 SICK: PRODUCTS OFFERED
TABLE 79 SICK: PRODUCT LAUNCH
TABLE 80 SICK: DEALS
11.1.8 SCHNEIDER ELECTRIC
TABLE 81 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
FIGURE 44 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
TABLE 82 SCHNEIDER ELECTRIC: PRODUCTS OFFERED
TABLE 83 SCHNEIDER ELECTRIC: DEALS
11.1.9 ABB
TABLE 84 ABB: BUSINESS OVERVIEW
FIGURE 45 ABB: COMPANY SNAPSHOT
TABLE 85 ABB: PRODUCTS OFFERED
TABLE 86 ABB: DEALS
11.1.10 BELDEN
TABLE 87 BELDEN: BUSINESS OVERVIEW
FIGURE 46 BELDEN: COMPANY SNAPSHOT
TABLE 88 BELDEN: PRODUCTS OFFERED
TABLE 89 BELDEN: PRODUCT LAUNCHES
TABLE 90 BELDEN: DEALS
11.1.11 GE GRID SOLUTIONS
TABLE 91 GE GRID SOLUTIONS: BUSINESS OVERVIEW
TABLE 92 GE GRID SOLUTIONS: PRODUCTS OFFERED
11.1.12 ADVANTECH
TABLE 93 ADVANTECH: BUSINESS OVERVIEW
FIGURE 47 ADVANTECH: COMPANY SNAPSHOT
TABLE 94 ADVANTECH: PRODUCTS OFFERED
TABLE 95 ADVANTECH: PRODUCT LAUNCH
TABLE 96 ADVANTECH: DEALS
11.1.13 HMS NETWORKS
TABLE 97 HMS NETWORKS: BUSINESS OVERVIEW
FIGURE 48 HMS NETWORKS: COMPANY SNAPSHOT
TABLE 98 HMS NETWORKS: PRODUCTS OFFERED
TABLE 99 HMS NETWORKS: PRODUCT LAUNCH
TABLE 100 HMS NETWORKS: DEALS
11.1.14 IFM ELECTRONIC
TABLE 101 IFM ELECTRONIC: BUSINESS OVERVIEW
TABLE 102 IFM ELECTRONIC: PRODUCTS OFFERED
TABLE 103 IFM ELECTRONIC: DEALS
11.1.15 MITSUBISHI ELECTRIC GROUP
TABLE 104 MITSUBISHI ELECTRIC: BUSINESS OVERVIEW
FIGURE 49 MITSUBISHI ELECTRIC GROUP: COMPANY SNAPSHOT
TABLE 105 MITSUBISHI ELECTRIC: PRODUCTS OFFERED
TABLE 106 MITSUBISHI ELECTRIC: PRODUCT LAUNCHES
11.1.16 ERICSSON
TABLE 107 ERICSSON: BUSINESS OVERVIEW
FIGURE 50 ERICSSON: COMPANY SNAPSHOT
TABLE 108 ERICSSON: PRODUCTS OFFERED
TABLE 109 ERICSSON: PRODUCT LAUNCHES
*Details on Business overview, Products/Solutions/Services offered, Recent developments & MnM View might not be captured in case of unlisted companies.
11.2 OTHER COMPANIES
11.2.1 HONEYWELL
11.2.2 FANUC
11.2.3 AAEON
11.2.4 TURCK
11.2.5 BOSCH REXROTH
12 APPENDIX (Page No. - 188)
12.1 INSIGHTS OF INDUSTRY EXPERTS
12.2 DISCUSSION GUIDE
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
12.4 AVAILABLE CUSTOMIZATIONS
12.5 RELATED REPORTS
12.6 AUTHOR DETAILS
The study involved four major activities in estimating the size for the industrial communication market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various sources were referred to for identifying and collecting information important for this study. Secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, related journals, and certified publications; articles by recognized authors; gold and silver standard websites; directories; and databases like Factiva.
Secondary research was mainly conducted to obtain key information about the industry supply chain, the market value chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and key developments from both markets- and technology-oriented perspectives. Data from secondary research was collected and analyzed to arrive at the overall market size, which was further validated by primary research.
Primary Research
In the primary research process, various primary sources from the supply and demand sides were interviewed to obtain the qualitative and quantitative information for this report. Primary sources from the supply side include industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related key executives from major companies and organizations operating in the industrial communication market.
Extensive primary research was conducted after obtaining information about the industrial communication market through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides. Primary data has been mainly collected through telephonic interviews, which constitute approximately 80% of the overall primary interviews. Moreover, questionnaires and emails were also used to collect the data.
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Market Size Estimation
In the complete market engineering process, both top-down and bottom-up approaches have been used, along with several data triangulation methods for estimating and forecasting the size of the industrial communication market and its segments and subsegments listed in this report. The key players in the market have been identified through secondary research, and their market share in the respective regions has been determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews of the industry experts, such as chief executive officers, vice presidents, directors, and marketing executives, for key insights.
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the possible parameters affecting the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Industrial Communication Market: Bottom-Up Approach
To know about the assumptions considered for the study, Request for Free Sample Report
Data Triangulation
After arriving at the overall size of the industrial communication market from the estimation process explained above, the total market was split into several segments and subsegments. The market breakdown and data triangulation procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Report Objectives
- To define, describe, and forecast the industrial communication market, by offering, communication protocol, and vertical, in terms of value
- To describe and forecast the market size, by region, for North America, Europe, Asia Pacific (Asia Pacific), and the Rest of the World (RoW), in terms of value
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To describe the industrial communication value chain
- To analyze opportunities in the market for stakeholders and describe the competitive landscape of the market
- To strategically profile key players and comprehensively analyze their market ranking and core competencies
- To analyze competitive developments such as product developments/launches, expansions, and acquisitions in the market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
Product Analysis
- Detailed analysis and profiling of additional market players
Growth opportunities and latent adjacency in Industrial Communication Market
I am Interested in undertanding the total global industrial communications market in terms of volume and size. I am also interested in understanding the competitive landscape of market players for the industrial communication market and the key strategies adopted by them in this market.
I am interested in understanding the market for industrial communication in Europe. Also, I would like to know more about the industrial communication equipment market for specific countries in Europe and if these include communication protocol.
I am looking for in-depth analysis on the industrial communication market. Can you help me with the scope of the industrial communication market? I would like to know more about the segments covered in the report. I would also like to understand the research methodology used to arrive at the market size.
We would like to understand the ecosystem for the industrial communication market and the major product offerings of leading players in this market, along with the key strategies adopted by them. I am also looking for some use cases specific to industrial ethernet.
I would like to know the overall scope of the industrial communication market report in terms of the industries covered and the type of components, software, and services that are included in the report. Also, I would like to know if metal is included in the mining sector, and, if not, can you provide market sizing for the steel and metal industry?