Dublin, Oct. 14, 2022 (GLOBE NEWSWIRE) -- The "Global Industrial Communication Market by Offering (Component, Software, Services), Communication Protocol (Fieldbus, Industrial Ethernet, Wireless), Vertical (Automotive, Engineering/Fabrication), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global industrial communication market is 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.
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 Outdated communication architectures are unable to keep up with existing SCADA applications in terms of the bandwidth, security features, scalability, and environmental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.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Industrial Communication Market
4.2 Industrial Communication Market, by Offering
4.3 Industrial Communication Market, by Communication Protocol and Vertical
4.4 Industrial Communication Market, by Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need for Scalable, Faster, Reliable, and Interoperable Communication Protocols
5.2.1.1.1 Recent Developments
5.2.1.2 Increasing Use of Digital Twin to Safely Monitor Smart Manufacturing Operations
5.2.1.2.1 Recent Developments
5.2.1.3 Increasing Use of Machine-To-Machine Communication Technology
5.2.1.3.1 Recent Developments
5.2.1.4 Initiatives Undertaken by Governments of Different Countries to Promote Adoption of Industrial Automation
5.2.1.4.1 Recent Developments
5.2.2 Restraints
5.2.2.1 Absence of Standardization in Industrial Communication Protocols and Interfaces
5.2.3 Opportunities
5.2.3.1 5G is Offering Lucrative Opportunities for Growth of Industrial IoT
5.2.3.1.1 Recent Developments
5.2.3.2 Upsurge in Demand for Wireless Networks
5.2.4 Challenges
5.2.4.1 Threats Related to Cybersecurity
5.2.4.2 Harsh Field Site Conditions such as High-Voltage Transients, Severe Shocks and Vibrations, and Extremely High Temperatures
5.3 Value Chain Analysis
5.4 Tariff Regulatory Bodies
5.5 Technology Analysis
5.6 Use Cases Analysis
5.6.1 Advantech's Edge Solutions to Enable Real-Time Oil Tanker Monitoring
5.6.2 Pulp Molding Equipment Manufacturer Implemented Rockwell Automation's Solutions
5.6.3 Ossid Improves Machinery Reliability and Performance Using Mitsubishi Electric's Automation Portfolio
5.6.4 Advantech Provided Wise-PaaS End-To-Cloud IoT Total Solution for Remote Video Surveillance and Device Status Monitoring and Control for Automotive Inspection Center
5.6.5 Optima Control Solutions (UK) and Rockwell Automation (US) Provided an Automated Monitoring Solution to a Biscuit Manufacturer
5.6.6 Advantech (Taiwan) Provided a Plant Monitoring Solution for a Wind Power Plant
5.7 Industrial Communication Ecosystem
5.8 Average Selling Price Trends
5.9 Noticeable Patents
6 Industrial Communication Market, by Offering
6.1 Introduction
6.2 Components
6.2.1 Switches
6.2.1.1 Switches are Used to Build Network Connections Between Different Interconnected Computers
6.2.2 Gateways
6.2.2.1 Gateways are Common Connection Points for Regulating Traffic Between Networks
6.2.3 Routers & WAP
6.2.3.1 Routers Examine Destination IP Address of Data Packets and Use Headers and Forwarding Tables to Decide Mode of Packet Transfer
6.2.4 Controllers & Connectors
6.2.4.1 Ethernet Controllers are Widely Popular Controllers Used in Industrial Communication
6.2.5 Communication Interfaces & Converters
6.2.5.1 Communication Interfaces Help in Communicating with Different Network Devices Using Certain Protocols
6.2.6 Power Supply Devices
6.2.6.1 Power Management Integrated Circuits (PMICs) are Useful in Communication Power Management
6.2.7 Others
6.2.7.1 Other Subcomponents Include Clocks, Repeaters, Isolators, Led Displays, and Cables
6.3 Software
6.3.1 Networking Management Software Optimize Network Efficiency and Minimize Total Cost of Ownership
6.4 Services
6.4.1 Industrial Communication Services Mainly Include Installation, Network Security, and Network Monitoring Services
7 Industrial Communication Market, by Communication Protocol
7.1 Introduction
7.2 Fieldbus
7.2.1 Fieldbus Can Work on Multiple Topologies, Such as Star, Ring, Branch, and Tree
7.2.2 Profibus
7.2.2.1 Profibus Links Automation Systems and Controllers with Decentralized Field Devices
7.2.3 Modbus
7.2.3.1 Modbus Can Run Over Different Communication Media, Including Wired Media, Wireless Media, and Optical Networks
7.2.4 CC-Link
7.2.4.1 CC-Link is an Open Industrial Network Protocol That Integrates System Control and Communication
7.2.5 Devicenet
7.2.5.1 Devicenet Facilitates Communication Between Field-Level and High-Level Devices
7.2.6 Canopen
7.2.6.1 Canopen is a High-Level Communication Protocol Based on Can Protocol
7.2.7 Others
7.3 Industrial Ethernet
7.3.1 Industrial Ethernet Provides High-Speed Connection Between Communication Nodes
7.3.2 Profinet
7.3.2.1 Profinet Supplements Existing Profibus Technologies by Providing Faster Data Communication
7.3.3 Ethernet/IP
7.3.3.1 Ethernet/IP is Widely Used in Hybrid and Process Industries
7.3.4 Ethercat
7.3.4.1 Ethercat is Specifically Designed for Fast Control Demand Applications
7.3.5 Modbus-TCP
7.3.5.1 Modbus-TCP Offers High Level of Interoperability for Industrial Communication Network Devices
7.3.6 Powerlink
7.3.6.1 Ethernet Powerlink Enables Transfer of Time-Critical Data in Short Duration
7.3.7 Sercos III
7.3.7.1 Sercos III Provides Low Latency Data Transfer
7.3.8 CC-Link IE
7.3.8.1 CC-Link IE Supports Flexible Wiring Topologies, Such as Star, Ring, and Line Configuration
7.4 Wireless
7.4.1 Wireless Communication Offers High Bandwidth for Complex Logistics and Production Processes
7.4.2 WLAN
7.4.2.1 WLAN Provides Wide Area Coverage and Faster Communication
7.4.3 ISA100.11A
7.4.3.1 ISA 100 Operates in 2.4 MHz Frequency Range and Can Support Up to 15 Channels
7.4.4 Cellular
7.4.4.1 Cellular Networks are Ideal for IIoT Applications That Require Operations Over Long Distances
7.4.5 Zigbee
7.4.5.1 Zigbee Offers Easy Network Expansion, Low Power Consumption, Good Coverage Area, and Reliable Network Structure
7.4.6 Whart
7.4.6.1 Whart is an Open Industry Standard Designed for Particular Wireless Communication Requirements
7.4.7 Others
8 Industrial Communication Market, by Vertical
8.1 Introduction
8.2 Automotive
8.2.1 Increasing Penetration of Industrial Communication Solutions in Automotive Manufacturing
8.3 Electrical & Electronics
8.3.1 Industrial Communication Solutions Aid in Reducing Downtime for Electronics Manufacturing
8.4 Aerospace & Defense
8.4.1 Rising Deployment of Industrial Communication Solutions in Aerospace & Defense Industry to Ensure Effective Manufacturing Processes
8.5 Oil & Gas
8.5.1 Increasing Offshore Oil & Gas Activities are Leading to Rising Adoption of Automation Solutions
8.6 Chemicals & Fertilizers
8.6.1 Industrial Communication Solutions Help in Ensuring High Safety Levels Required in Chemical Industry
8.7 Food & Beverages
8.7.1 Rapid Penetration of Automation in Food & Beverages Industry to Drive Demand for Industrial Communication Solutions
8.8 Pharmaceuticals & Medical Devices
8.8.1 Pharmaceutical Industry is Evolving Through Adoption of Automation and Sensing Technologies
8.9 Energy & Power
8.9.1 Communication Networks are Essential for Data Retrieval in Energy & Power Plants
8.10 Metals & Mining
8.10.1 Communication Solutions Will Aid in Ensuring Worker Safety in Mining Industry
8.11 Engineering/Fabrication
8.11.1 Networking Technologies Ensure Consistent, Uninterrupted Connectivity for Workers in Fabrication Plants
8.12 Water & Wastewater Management
8.12.1 Low-Cost, Low-Power Sensors and Edge-Computing Devices Increase Efficiency in Water & Wastewater Management
8.13 Others
8.13.1 Incorporation of Industrial Communication Solutions to Enhance Productivity in Paper & Pulp Industry
9 Industrial Communication Market, by Geography
10 Competitive Landscape
10.1 Key Player Strategies/Right to Win
10.2 Overview
10.3 Top 5 Company Analysis
10.4 Market Share Analysis (2021)
10.5 Company Evaluation Quadrant, 2021
10.5.1 Star
10.5.2 Pervasive
10.5.3 Emerging Leader
10.5.4 Participant
10.6 Competitive Scenario
11 Company Profiles
11.1 Key Players
11.1.1 Cisco
11.1.2 Siemens
11.1.3 Rockwell Automation
11.1.4 Omron
11.1.5 Moxa
11.1.6 Huawei Technologies
11.1.7 Sick
11.1.8 Schneider Electric
11.1.9 ABB
11.1.10 Belden
11.1.11 GE Grid Solutions
11.1.12 Advantech
11.1.13 HMS Networks
11.1.14 IFM Electronic
11.1.15 Mitsubishi Electric Group
11.1.16 Ericsson
11.2 Other Companies
11.2.1 Honeywell
11.2.2 FANUC
11.2.3 AAEON
11.2.4 Turck
11.2.5 Bosch Rexroth
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/kzeh0p
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