Industrial Communication Market

Industrial Communication Market worth $26.8 billion by 2027

According to a research report "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"The industrial communication market is projected to grow from USD 18.8 billion in 2022 to USD 26.8 billion by 2027; it is expected to grow at a CAGR of 7.4% during the forecast period. Owing to COVID-19, the industrial communication market faced some headwinds for 2020–2021. A digital twin is a virtual model of a product, process, or service. The actual product, process, or service pairs with the virtual model, allowing data analysis of the product or operation, remote monitoring of the system, and prevention of downtime. An Increase in the use of digital twin to safely monitor smart manufacturing operations has been witnessed in the last few years. The governments of different countries across the world are also supporting the development of industries to ensure the holistic development of the country. This has led to the adoption of various automation and communication components and technologies for the structural development of industries.

Browse 109 market data Tables and 50 Figures spread through 195 Pages and in-depth TOC on "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"
View detailed Table of Content here -

Switches to account for the largest share of the industrial communication component market by 2027.

Switches are used to establish an industrial network by interconnecting computers. Switches provide high security and durability and are suitable for mission-critical environments. They provide a reliable communication network for machine tools and motion control applications in process and discrete industries. Switches are energy-efficient, durable, and robust. The rising demand for network availability in various automation applications creates a need for additional features, such as industrial-grade reliability, network redundancy, seamlessly integrated security, and the best price-to-performance ratio.

Wireless segment to grow at the highest CAGR for the industrial communication market during forecast period.

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.

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. To improve the quality of vehicles and overall production efficiency, manufacturers invest substantial time and money in developing and improving the manufacturing process and rely heavily on technological innovations. Industrial communication solutions leverage the benefits of the industrial internet to connect machines, data, and people to attain an unmatched level of information visibility and manufacturing insight. This helps accelerate production, improve quality, and lower costs.

Market in APAC to register largest share during the forecast period.

The major application industries of industrial communication solutions in Asia Pacific are chemicals, oil & gas, semiconductors, consumer electronics, and automotive. Asia Pacific has emerged as an auto-manufacturing hub in the world. Hence, motor vehicle suppliers such as Volkswagen, Toyota Motor Corporation, Renault-Nissan Alliance, Daimler, and local manufacturers such as Tata Motors and Mahindra and Mahindra have made investments to automate their automobile production sites. Asia Pacific also has a large number of small- and medium-sized enterprises (SMEs). Hence, there is a requirement for significant investments to successfully implement industrial control system security projects ins SMEs for adopting strong security practices in their manufacturing units.

Major vendors in the industrial communication market 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).

Don’t miss out on business opportunities in Industrial Communication Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Industrial Communication Market Size,  Share & Growth Report
Report Code
SE 4645
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Industrial Communication Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2023 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status

Digital Virtual Assistant - MarketsandMarkets