Industrial Communication Market size to grow at a CAGR of 10.92% from 2022 to 2027, Growing adoption of IIoT technology to drive growth – Technavio

NEW YORK, April 21, 2023 /PRNewswire/ — The industrial communication market is estimated to grow by USD 73.71 billion from 2022 to 2027. However, the growth momentum will progress at a CAGR of 10.92% during the forecast period. The market is segmented by product (Fieldbus, industrial ethernet, and wireless), type (component, software, and services), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The market share growth by the fieldbus segment will be significant for the market growth during the forecast period. Fieldbus is an industrial network system used for real-time distributed control. Various types of fieldbuses used in the communication industry include Profibus, Modbus, and others. Profibus connects automation modules and process control. The process controller uses a single multidrop cable to connect devices. The equipment is economical for use on large construction sites. This is due to the low installation cost and easy fault isolation with a single cable connection. The growing adoption of IIoT technology predominantly drives the market growth during the forecast period. The IoT is a network of physical devices embedded with sensors, software, and hardware that collect and exchange data without human intervention. About 40% of these devices will be smart devices such as TVs, tablets, and smartphones. The rest consist of traditionally non-internet-enabled devices. The IIoT is a network of devices with sensors, industrial equipment, big data analytics, and cloud infrastructure. The IIoT value proposition is to connect disparate infrastructures and reduce operating costs. Manufacturers recognize the benefits of open networks such as Ethernet over dedicated automation networks. Request a Sample Report in minutes now!

Information Services Market Insights –

Vendors: 15+, Including ABB Ltd., Advantech Co. Ltd., ASUSTeK Computer Inc., Beckhoff Automation GmbH and Co. KG, Belden Inc., Cisco Systems Inc., Emerson Electric Co., FANUC Corp., General Electric Co., Huawei Technologies Co. Ltd., ifm electronic GmbH, Moxa Inc., National Instruments Corp., OMRON Corp., Physik Instrumente GmbH and Co. KG, Rockwell Automation Inc., Schneider Electric SE, SICK AG, Siemens AG, and Texas Instruments Inc. among othersCoverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendorsSegments: Product (Fieldbus, Industrial Ethernet, and Wireless), Type (Component, Software, and Services), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market, request a sample report

Industrial communication market – Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio’s report analyzes the market’s competitive landscape and offers information on several market vendors.

Industrial Communication Market – Market Dynamics

Major Trends – The adoption of fieldbus and IIoT integration is a major trend impacting the growth of the industrial communications market. The Fourth Industrial Revolution brought about the convergence of IIoT and fieldbuses. Consolidation is primarily seen in industries using modern industrial communication systems due to the need for better connectivity, security, and high performance. Fieldbus provides real-time data on device status, diagnostic alerts, process variables, and configuration parameters via IIoT. This setup constantly monitors plant operations to determine if devices are properly configured and operating optimally. CAPEX and OPEX are reduced when fieldbuses are integrated into the IIoT. This is because end users can enjoy various services through the Internet. This reduces the integration of other additional devices. Benefits of such Internet-enabled industrial automation systems include minimizing downtime for application delivery. IIoT integrated fieldbuses help minimize the total cost of ownership by providing communication capabilities in all areas of production. It also provides a direct connection to process equipment, especially in hazardous areas. 

Key challenges – Lack of determinism in industrial communication networks hinders the growth of the industrial communication market. Determinism describes the ability of a communication protocol to guarantee that messages or packets are sent and received within a fixed or predictable amount of time. This is essential for critical control applications in industrial automation. ICS requires real-time information transfer. Network delays of a few seconds are acceptable on corporate networks. However, in an industrial control environment, even one second of network disruption can have a severe impact on the manufacturing process. When packets of data sent over Ethernet are variables controlled by high-speed computer numerical control (CNC) machines, the loss of speed and bandwidth can be catastrophic. This can affect the safety of on-site personnel. The time it takes for a particular data packet to reach its destination on an Ethernet local area network (LAN) cannot be predicted or determined. This complicates real-time control of machines over Ethernet. 

Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

The industrial communication market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this industrial communication market report?

CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the industrial communication market between 2023 and 2027Precise estimation of the size of the industrial communication market size and its contribution to the market in focus on the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the Industrial Communication Market industry across APAC, North America, Europe, South America, and Middle East and AfricaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of Industrial Communication Market vendors

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Table Of Contents : 

1 Executive Summary

1.1 Market overview Exhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by ProductExhibit 06: Executive Summary – Chart on Market Segmentation by TypeExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem Exhibit 10: Parent marketExhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition Exhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 13: Market segments3.3 Market size 2022 3.4 Market outlook: Forecast for 2022-2027Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global industrial communication market 2017 – 2021Exhibit 18: Historic Market Size – Data Table on Global industrial communication market 2017 – 2021 ($ billion)4.2 Product Segment Analysis 2017 – 2021Exhibit 19: Historic Market Size – Product Segment 2017 – 2021 ($ billion)4.3 Type Segment Analysis 2017 – 2021 Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 ($ billion)4.4 Geography Segment Analysis 2017 – 2021Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)4.5 Country Segment Analysis 2017 – 2021Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary Exhibit 23: Five forces analysis – Comparison between 2022 and 20275.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalry Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market condition Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

6.1 Market segments Exhibit 30: Chart on Product – Market share 2022-2027 (%)Exhibit 31: Data Table on Product – Market share 2022-2027 (%)6.2 Comparison by Product Exhibit 32: Chart on Comparison by ProductExhibit 33: Data Table on Comparison by Product6.3 Fieldbus – Market size and forecast 2022-2027Exhibit 34: Chart on Fieldbus – Market size and forecast 2022-2027 ($ billion)Exhibit 35: Data Table on Fieldbus – Market size and forecast 2022-2027 ($ billion)Exhibit 36: Chart on Fieldbus – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on Fieldbus – Year-over-year growth 2022-2027 (%)6.4 Industrial Ethernet – Market size and forecast 2022-2027 Exhibit 38: Chart on Industrial Ethernet – Market size and forecast 2022-2027 ($ billion)Exhibit 39: Data Table on Industrial Ethernet – Market size and forecast 2022-2027 ($ billion)Exhibit 40: Chart on Industrial Ethernet – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on Industrial Ethernet – Year-over-year growth 2022-2027 (%)6.5 Wireless – Market size and forecast 2022-2027Exhibit 42: Chart on Wireless – Market size and forecast 2022-2027 ($ billion)Exhibit 43: Data Table on Wireless – Market size and forecast 2022-2027 ($ billion)Exhibit 44: Chart on Wireless – Year-over-year growth 2022-2027 (%)Exhibit 45: Data Table on Wireless – Year-over-year growth 2022-2027 (%)6.6 Market opportunity by Product Exhibit 46: Market opportunity by Product ($ billion)Exhibit 47: Data Table on Market opportunity by Product ($ billion)

7 Market Segmentation by Type

7.1 Market segments Exhibit 48: Chart on Type – Market share 2022-2027 (%)Exhibit 49: Data Table on Type – Market share 2022-2027 (%)7.2 Comparison by Type Exhibit 50: Chart on Comparison by TypeExhibit 51: Data Table on Comparison by Type7.3 Component – Market size and forecast 2022-2027Exhibit 52: Chart on Component – Market size and forecast 2022-2027 ($ billion)Exhibit 53: Data Table on Component – Market size and forecast 2022-2027 ($ billion)Exhibit 54: Chart on Component – Year-over-year growth 2022-2027 (%)Exhibit 55: Data Table on Component – Year-over-year growth 2022-2027 (%)7.4 Software – Market size and forecast 2022-2027Exhibit 56: Chart on Software – Market size and forecast 2022-2027 ($ billion)Exhibit 57: Data Table on Software – Market size and forecast 2022-2027 ($ billion)Exhibit 58: Chart on Software – Year-over-year growth 2022-2027 (%)Exhibit 59: Data Table on Software – Year-over-year growth 2022-2027 (%)7.5 Services – Market size and forecast 2022-2027Exhibit 60: Chart on Services – Market size and forecast 2022-2027 ($ billion)Exhibit 61: Data Table on Services – Market size and forecast 2022-2027 ($ billion)Exhibit 62: Chart on Services – Year-over-year growth 2022-2027 (%)Exhibit 63: Data Table on Services – Year-over-year growth 2022-2027 (%)7.6 Market opportunity by Type Exhibit 64: Market opportunity by Type ($ billion)Exhibit 65: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

8.1 Customer landscape overview Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation Exhibit 67: Chart on Market share by geography 2022-2027 (%)Exhibit 68: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparison Exhibit 69: Chart on Geographic comparisonExhibit 70: Data Table on Geographic comparison9.3 APAC – Market size and forecast 2022-2027Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ billion)Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.4 North America – Market size and forecast 2022-2027Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ billion)Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ billion)Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)9.5 Europe – Market size and forecast 2022-2027Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 ($ billion)Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.6 South America – Market size and forecast 2022-2027Exhibit 83: Chart on South America – Market size and forecast 2022-2027 ($ billion)Exhibit 84: Data Table on South America – Market size and forecast 2022-2027 ($ billion)Exhibit 85: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 86: Data Table on South America – Year-over-year growth 2022-2027 (%)9.7 Middle East and Africa – Market size and forecast 2022-2027 Exhibit 87: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)Exhibit 88: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)Exhibit 89: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 90: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.8 US – Market size and forecast 2022-2027Exhibit 91: Chart on US – Market size and forecast 2022-2027 ($ billion)Exhibit 92: Data Table on US – Market size and forecast 2022-2027 ($ billion)Exhibit 93: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 94: Data Table on US – Year-over-year growth 2022-2027 (%)9.9 China – Market size and forecast 2022-2027Exhibit 95: Chart on China – Market size and forecast 2022-2027 ($ billion)Exhibit 96: Data Table on China – Market size and forecast 2022-2027 ($ billion)Exhibit 97: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 98: Data Table on China – Year-over-year growth 2022-2027 (%)9.10 Germany – Market size and forecast 2022-2027Exhibit 99: Chart on Germany – Market size and forecast 2022-2027 ($ billion)Exhibit 100: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)Exhibit 101: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 102: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.11 UK – Market size and forecast 2022-2027Exhibit 103: Chart on UK – Market size and forecast 2022-2027 ($ billion)Exhibit 104: Data Table on UK – Market size and forecast 2022-2027 ($ billion)Exhibit 105: Chart on UK – Year-over-year growth 2022-2027 (%)Exhibit 106: Data Table on UK – Year-over-year growth 2022-2027 (%)9.12 Japan – Market size and forecast 2022-2027Exhibit 107: Chart on Japan – Market size and forecast 2022-2027 ($ billion)Exhibit 108: Data Table on Japan – Market size and forecast 2022-2027 ($ billion)Exhibit 109: Chart on Japan – Year-over-year growth 2022-2027 (%)Exhibit 110: Data Table on Japan – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geography Exhibit 111: Market opportunity by geography ($ billion)Exhibit 112: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers 10.2 Market challenges 10.3 Impact of drivers and challenges Exhibit 113: Impact of drivers and challenges in 2022 and 202710.4 Market trends 

11 Vendor Landscape

11.1 Overview 11.2 Vendor landscape Exhibit 114: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruption Exhibit 115: Overview on factors of disruption11.4 Industry risks Exhibit 116: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered Exhibit 117: Vendors covered12.2 Market positioning of vendors Exhibit 118: Matrix on vendor position and classification12.3 ABB Ltd. Exhibit 119: ABB Ltd. – OverviewExhibit 120: ABB Ltd. – Business segmentsExhibit 121: ABB Ltd. – Key offeringsExhibit 122: ABB Ltd. – Segment focus12.4 Advantech Co. Ltd. Exhibit 123: Advantech Co. Ltd. – OverviewExhibit 124: Advantech Co. Ltd. – Business segmentsExhibit 125: Advantech Co. Ltd. – Key offeringsExhibit 126: Advantech Co. Ltd. – Segment focus12.5 Beckhoff Automation GmbH and Co. KGExhibit 127: Beckhoff Automation GmbH and Co. KG – OverviewExhibit 128: Beckhoff Automation GmbH and Co. KG – Product / ServiceExhibit 129: Beckhoff Automation GmbH and Co. KG – Key offerings12.6 Belden Inc. Exhibit 130: Belden Inc. – OverviewExhibit 131: Belden Inc. – Business segmentsExhibit 132: Belden Inc. – Key newsExhibit 133: Belden Inc. – Key offeringsExhibit 134: Belden Inc. – Segment focus12.7 Cisco Systems Inc. Exhibit 135: Cisco Systems Inc. – OverviewExhibit 136: Cisco Systems Inc. – Business segmentsExhibit 137: Cisco Systems Inc. – Key newsExhibit 138: Cisco Systems Inc. – Key offeringsExhibit 139: Cisco Systems Inc. – Segment focus12.8 Emerson Electric Co. Exhibit 140: Emerson Electric Co. – OverviewExhibit 141: Emerson Electric Co. – Business segmentsExhibit 142: Emerson Electric Co. – Key newsExhibit 143: Emerson Electric Co. – Key offeringsExhibit 144: Emerson Electric Co. – Segment focus12.9 General Electric Co. Exhibit 145: General Electric Co. – OverviewExhibit 146: General Electric Co. – Business segmentsExhibit 147: General Electric Co. – Key newsExhibit 148: General Electric Co. – Key offeringsExhibit 149: General Electric Co. – Segment focus12.10 Huawei Technologies Co. Ltd. Exhibit 150: Huawei Technologies Co. Ltd. – OverviewExhibit 151: Huawei Technologies Co. Ltd. – Business segmentsExhibit 152: Huawei Technologies Co. Ltd. – Key newsExhibit 153: Huawei Technologies Co. Ltd. – Key offeringsExhibit 154: Huawei Technologies Co. Ltd. – Segment focus12.11 National Instruments Corp. Exhibit 155: National Instruments Corp. – OverviewExhibit 156: National Instruments Corp. – Product / ServiceExhibit 157: National Instruments Corp. – Key newsExhibit 158: National Instruments Corp. – Key offerings12.12 OMRON Corp. Exhibit 159: OMRON Corp. – OverviewExhibit 160: OMRON Corp. – Business segmentsExhibit 161: OMRON Corp. – Key newsExhibit 162: OMRON Corp. – Key offeringsExhibit 163: OMRON Corp. – Segment focus12.13 Rockwell Automation Inc. Exhibit 164: Rockwell Automation Inc. – OverviewExhibit 165: Rockwell Automation Inc. – Business segmentsExhibit 166: Rockwell Automation Inc. – Key newsExhibit 167: Rockwell Automation Inc. – Key offeringsExhibit 168: Rockwell Automation Inc. – Segment focus12.14 Schneider Electric SE Exhibit 169: Schneider Electric SE – OverviewExhibit 170: Schneider Electric SE – Business segmentsExhibit 171: Schneider Electric SE – Key newsExhibit 172: Schneider Electric SE – Key offeringsExhibit 173: Schneider Electric SE – Segment focus12.15 SICK AG Exhibit 174: SICK AG – OverviewExhibit 175: SICK AG – Business segmentsExhibit 176: SICK AG – Key offeringsExhibit 177: SICK AG – Segment focus12.16 Siemens AG Exhibit 178: Siemens AG – OverviewExhibit 179: Siemens AG – Business segmentsExhibit 180: Siemens AG – Key newsExhibit 181: Siemens AG – Key offeringsExhibit 182: Siemens AG – Segment focus12.17 Texas Instruments Inc. Exhibit 183: Texas Instruments Inc. – OverviewExhibit 184: Texas Instruments Inc. – Business segmentsExhibit 185: Texas Instruments Inc. – Key newsExhibit 186: Texas Instruments Inc. – Key offeringsExhibit 187: Texas Instruments Inc. – Segment focus

13 Appendix

13.1 Scope of the report 13.2 Inclusions and exclusions checklistExhibit 188: Inclusions checklistExhibit 189: Exclusions checklist13.3 Currency conversion rates for US$ Exhibit 190: Currency conversion rates for US$13.4 Research methodology Exhibit 191: Research methodologyExhibit 192: Validation techniques employed for market sizingExhibit 193: Information sources13.5 List of abbreviations Exhibit 194: List of abbreviations

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