IO-Link Market

IO-Link Market worth $12.20 billion by 2023

According to the new market research report "IO-Link Market by Component (IO-Link Masters and IO-Link Devices), Application (Machine Tool, Handling & Assembly Automation, Packaging, Intralogistics), Industry (Discrete, Hybrid, and Process), and Geography - Global Forecast to 2023", The IO-Link market is expected to reach USD 12.20 billion by 2023 from USD 2.87 billion in 2018, at a CAGR of 33.56%. The growth of the IO-Link market can be attributed to the initiatives of governments across the world toward the adoption of industrial automation; high focus on increasing energy efficiency, optimizing resources, and reducing production costs; and rise of digital industrial technology Industry 4.0. Moreover, the release of IO-Link safety specification in 2017 and availability of cloud interface in IO-Link are likely to create huge growth opportunities for players in the market.

Browse 78 market data Tables and 41 Figures spread through 142 Pages and in-depth TOC on "IO-Link Market - Global Forecast to 2023"
View detailed Table of Content here -

IO-Link market for packaging applications to grow at highest rate during forecast period

The increased focus by many manufacturing industries to ensure greater operating safety and efficiency, as well as reduce errors and improve working conditions, has aided the adoption of the packaging automation solutions in industries. The packaging application is expected to exhibit the highest growth in the IO-Link market owing to the flexibility that IO-Link provides to fulfil the requirements for optimizing the packaging process.

IO-Link market for discrete industries to register largest shipment in 2018

The IO-Link technology has gained popularity in discrete industries mainly due to the recent surge in the adoption of Ethernet communication protocol in automotive, medical devices, and semiconductor and electronics industries. Due to the high cost and design complexity, the Ethernet communication protocol is not suitable for field-level communication applications wherein many sensors and actuators are used. This limitation of Ethernet has provided new growth opportunity to IO-Link to be adopted as a field-level communication protocol in recent years. Moreover, the Ethernet protocol is expected to account for a major market share for discrete industries during the forecast period. This, in turn, is expected to boost the IO-Link market growth in discrete industries in the coming years.

APAC to hold largest size of IO-Link market by 2023

Growing manufacturing sector in APAC countries such as China, Japan, and South Korea is expected to contribute to the growth of the IO-Link market in this region during the forecast period. China is a global manufacturing hub for semiconductor and automotive manufacturers. Rapidly growing automotive industry in China is likely to create growth opportunities for the IO-Link market players in this country. With the growing automotive and manufacturing industries, China witnessed a significant increase in the adoption of IO-Link in the last couple of years.

Major players in the IO-Link market covered in this report are Siemens (Germany), Balluff (Germany), Ifm electronic (Germany), SICK (Germany), Rockwell Automation (US), Festo (Germany) Omron (Japan), Banner Engineering (US), Hans Turck (Germany), Pepperl & Fuchs (Germany), and Datalogic (Italy).

Don’t miss out on business opportunities in IO-Link 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. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
SE 6700
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 IO-Link 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)
©2021 MarketsandMarkets Research Private Ltd. All rights reserved

Digital Virtual Assistant - MarketsandMarkets