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The global industrial communication market has thrived successfully in the recent decade as growing adoption of these components in Industry 4.0 has effectively helped increased productivity in major industries. Labor reduction, waste reduction, repeatability, enhanced quality control, and integration with existing business systems have given companies an added advantage by lowering long-term costs, which could indirectly increase product output and revenue.Communication networks like LAN (Local Area Network) or WAN (Wide Area Network) can communicate large amounts of data via limited number of channels. Whereas industrial networking enable implementing various communication protocols between field devices, digital controllers and several automation related software tools and external systems. Therefore modern industries have demonstrated increased adoption of industrial communication networks over traditional LAN and WAN. This has led to industrial communication market size depicting a substantial increase lately.
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For instance, according to renowned automation conglomerate ABB, and one of the notable players in industrial communication market, the firm’s revenue increased by 5% to $7,395 million in 2018. This has been credited to the strong growth in robotics & motion, robust performance achieved from electrification products and a steady result owing to industrial automation.
Industrial communication market is being driven by robotization trends in industries in the emerging economies of the APAC region. Moreover, the increasing adoption of the Industry 4.0 revolution further augments the prospects for the industrial communication industry. Asia Pacific industrial communication industry is forecast to grow at a CAGR of more than 12% over 2019-2025.
Besides APAC region, robot sales in the U.S. has also significantly helped to expand industrial communication market. Robot sales in the United States has been recorded to hit a new peak of almost 38,000 units, setting a record for the eighth year in a row from 2010 to 2018. Robot density in the U.S. manufacturing industry reached 200 robots per 10,000 employees by 2018. Increasing rate of robotization and robot density will drive the industrial communication market substantially.
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Among numerous sectors deploying industrial robots, automobile and electronics sectors have been credited with highest share in the year 2018. Automotive sector had accounted for the deployment of 116,000 units of industrial robots whereas, electrical and electronics sector has been credited for the use of 113,000 units of industrial robots. Growing demand of industrial robots is among the key drivers of industrial communication market growth.
Industrial communication market footprint is seemingly strengthened by the industry players in manufacturing, automobile and electronics sectors. For instance, an automation company, ABB, has reportedly announced that it will introduce collaborative robots to medical laboratories as it opens a new healthcare hub at the Texas Medical Center (TMC) innovation campus in Houston, Texas. This new facility will focus on developing non-surgical medical robotics systems. ABB already has its robots operational in food and beverage sector and is playing a significant role to propel industrial communication market growth.
In a nutshell, it would not be incorrect to quote that industrial communication industry is likely to come up as a highly profitable vertical of the overall electronics cosmos. As per estimates, global industrial communication market is anticipated to exceed USD 160 billion by 2025.
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Table of Contents (TOC) of the report:
Chapter 4. Competitive Landscape, 2018
4.1. Introduction
4.2. Major market players, 2018
4.2.1. ABB
4.2.2. Cisco Systems
4.2.3. Rockwell Automation
4.2.4. Schneider Electric
4.2.5. Siemens AG
4.3. Market challengers, 2018
4.3.1. Belden Inc.
4.3.2. Eaton Corporation
4.3.3. HMS Industrial Network
4.3.4. OMRON
4.4. Other prominent vendors
Chapter 5. Industrial Communication Market, By Component
5.1. Key trends, by component
5.2. Hardware
5.2.1. Market estimates and forecast, 2014 – 2025
5.2.2. Switches
5.2.2.1. Market estimates and forecast, 2014 – 2025
5.2.3. Hubs, routers & gateways
5.2.3.1. Market estimates and forecast, 2014 – 2025
5.2.4. Connectors
5.2.4.1. Market estimates and forecast, 2014 – 2025
5.2.5. Communication interfaces
5.2.5.1. Market estimates and forecast, 2014 – 2025
5.2.6. Controllers & processors
5.2.6.1. Market estimates and forecast, 2014 – 2025
5.2.7. Others
5.2.7.1. Market estimates and forecast, 2014 – 2025
5.3. Software
5.3.1. Market estimates and forecast, 2014 – 2025
5.4. Services
5.4.1. Market estimates and forecast, 2014 -- 2025
5.4.2. Installation service
5.4.2.1. Market estimates and forecast, 2014 – 2025
5.4.3. Maintenance service
5.4.3.1. Market estimates and forecast, 2014 – 2025
Chapter 7. Industrial Communication Market, By Application
7.1. Key trends, by application
7.2. Aerospace & defense
7.2.1. Market estimates and forecast, 2014 – 2025
7.3. Automotive & transportation
7.3.1. Market estimates and forecast, 2014 – 2025
7.4. Chemical
7.4.1. Market estimates and forecast, 2014 – 2025
7.5. Electrical & electronics
7.5.1. Market estimates and forecast, 2014 – 2025
7.6. Energy & power
7.6.1. Market estimates and forecast, 2014 – 2025
7.7. Food & beverages
7.7.1. Market estimates and forecast, 2014 – 2025
7.8. Industrial manufacturing
7.8.1. Market estimates and forecast, 2014 – 2025
7.9. Oil & gas
7.9.1. Market estimates and forecast, 2014 – 2025
7.10. Pharmaceutical
7.10.1. Market estimates and forecast, 2014 – 2025
7.11. Others
7.11.1. Market estimates and forecast, 2014 – 2025
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