1. Market Research
  2. > Advanced IT
  3. > Wireless Technology Market Trends
Industrial Communication Market by Offering, Communication Protocol, Vertical and Region - Global Forecast to 2027

Industrial Communication Market by Offering, Communication Protocol, Vertical and Region - Global Forecast to 2027

  • June 2022
  • 196 pages
  • ID: 4243647
  • Format: PDF
  • MarketsandMarkets

Summary

Table of Contents

Search Inside

The industrial communication marketis expected to grow from USD 18.8 billion in 2022 and is projected to reach USD 26.8 billion by 2027; it is expected to grow at a CAGR of 7.4% during the forecast period. 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.The clients of the companies offering smart manufacturing products and solutions are currently deferring the implementation of new projects as a short-term strategy and are concentrating on saving their business and cash flow. However, as the pandemic has subsided, companies are starting to demand smart manufacturing products and solutions. Still, the increased demands may not reach the demand levels estimated in the pre-COVID-19 era. Apart from this, 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.

Market for services to have highest CAGR during the forecast period
Rapid changes in network infrastructure and the growing adoption of IIoT have led to the adoption of cloud and virtualization.This has significantly increased the pressure on network administrators to manage the network infrastructure.

Hence, manufacturing industries are outsourcing network services to ensure better network management quality and reduced operating costs. Also, post-COVID-19, most companies are adopting remote network monitoring services, which is expected to boost the services market during the forecast period.

Wireless connectivity segment to have highest growth throughout the forecast period
The number of wireless connections in industrial applications has increased considerably over the past few years due to improved network coverage, quality of transmission, and bandwidth capacity.Advancements in wireless communication technologies, especially in wireless highway addressable remote transducer (WHART), cellular, and wireless local area networks (WLAN), are helping manufacturing companies to remotely monitor their assets from anywhere in the world.

The popularity of wireless networks is increasing due to the speed and simplicity of installing them, as these features enable their deployment even in extreme environments. All these factors are expected to increase the adoption of wireless technology in the industrial communication market during the forecast period.

Market for water & wastewater management application to grow at highest CAGR during the forecast period
In water and wastewater treatment operations, reliable and timely data can improve efficiency and reduce costs. Outdated communication architectures are unable to keep up with existing SCADA applications in terms of the bandwidth, security features, scalability, and environmental ruggedness required to connect to remote areas.Water level monitoring sensors, AC drives, and controllers are the crucial components of water treatment systems, and an industrial communication network is used to facilitate communication among these devices. These factors are expected to fuel the growth of the industrial communication market for the water & wastewater vertical during the forecast period.

Market in APAC to grow at highest CAGR during the forecast period
Asia Pacific is one of the fastest-growing regions globally in terms of the adoption of industrial communication. Ongoing technological innovations and increasing adoption of automation technologies in various industries are leading to the growth of the industrial communication market in Asia Pacific.Considering the large population of some of the emerging economies in Asia Pacific and the need for better infrastructure and healthcare facilities, the IIoT market is expected to have more opportunities for growth in this region. IIoT can potentially change the entire industrial landscape and contribute to the growth of the emerging countries in this region. Industrial automation mainly depends on network interfaces and communication devices as an efficient communication network helps monitor and optimize the automation process.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the industrial communicationmarketspace. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1– 30%, Tier 2– 50%, and Tier 3 – 20%
• By Designation: C-level Executives– 10%, Directors– 30%, and Others – 60%
• By Region:North America–25%,APAC– 40%, Europe – 25%,and RoW – 10%
The report profiles key players in the industrial communication market with their respective market ranking analysis. Prominent players profiled in this report areCisco (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).

Research Coverage:
This research report categorizes the industrial communication marketon the basis ofoffering, communication protocol, vertical, and geography.The report describes the major drivers, restraints, challenges, and opportunities pertaining to the industrial communication market and forecasts the same till 2027 (including analysis of COVID-19 impact on the market).

Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the industrial communication ecosystem.

Key Benefits of Buying the Report

The report would help leaders/new entrants in this market in the following ways:
1. This report segments the industrial communication market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product launches, deals, and expansions.
4. The analysis of the top 21 companies, based on the strength of the market rank as well asthe product footprint will help stakeholders visualize the market positioning of these key players.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Embedded Antenna System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Antenna Type, Connectivity, and End Use

  • $ 4550
  • March 2022
  • 204 pages

The embedded antenna system market is expected to reach US$ 5,685.63 million by 2028 from US$ 2,858.37 million in 2021; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028. The embedded antenna ...

  • World
  • Europe
  • Mobile Services
  • Consumer Electronics
  • Industry analysis
  • Smartphone Penetration
  • Disposable Income

ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on