Global Industrial Communication Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Industrial Communication Market 2021 (Includes Business Impact of COVID-19)
Global Industrial Communication Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights, which offers in-depth insights, revenue details, and other vital information regarding the global industrial communication market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global industrial communication market report has been segmented on the basis of component, communication protocol, application, and region.
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The global Industrial Communication market size was valued at USD $71.71 billion in 2020 and is projected to reach $204.16 billion by 2030, and is anticipated to expand at a CAGR of 10.05% over the forecast period from 2020 to 2030.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Overview:

Industrial communication is type of communication between two devices of a system. It works with systems based on the Ethernet IP or TCP standard, and automation technology uses various communication systems, that are compatible with each other. Currently, industrial communication theme is used for diverse and wide-ranging technology that incudes software, services and components such as memory, power supply devices, connectors, communication interfaces, LED Displays, controllers, processors, etc. in addition, it also includes wired and wireless communication systems between devices in even harsh environment.

Dynamics:

Growing industrial sector, coupled with increasing demand for fast, reliable, and scalable communication systems are major factors driving growth of the global industrial communication market. Increasing use of artificial intelligence, biotechnology, quantum computing, nanotechnology, internet of things, robotics and other upcoming technologies such as vehicle automation are factors expected to support growth of the target market. Growing adoption of human to machine (HMI) and machine to machine (MIM) is fueling growth of the target market. Furthermore, growing automation in industry is also a factor expected to boost growth of the global industrial communication market in the near future.

However, concerns regarding data security and cybersecurity is a factor that may hamper growth of the global industrial communication market. Nevertheless, growing preference for wireless communication devices can create high revenue opportunities for players in the target market over the forecast period.

Segment Analysis:

On the basis of application, water and wastewater segment anticipated to witness high growth in terms of revenue in the near future. Growing complications in water management and increasing requirement of management water plants are factors supporting growth of this segment in the global industrial communication market.

Regional Analysis:

Market in Asia Pacific is expected to accounts for major share in terms of revenue and expected to witness high growth over the forecast period. Growing industrial sector and adoption of advanced technology are factors driving growth of the target market in this region. Increasing use of automation in electronics and semiconductor as well as automotive sectors especially in emerging economies such as China and India and developed counties such as Japan and South Korean are some other factors expected to fuel growth of the target market in the near future.  Market in North America is expected to account for lucrative growth in terms of revenue in the industrial communication market, followed by Europe.

Global Industrial Communication Market Segmentation:

Segmentation by component:

  
Software
  
Hardware
  
Services

Segmentation by communication protocol:

  
Industrial Ethernet
  
Fieldbus
  
Wireless

Segmentation by application:

  
Aerospace and Defense
  
Pharmaceutical
  
Chemicals and Fertilizers
  
Food and Beverages
  
Mining
  
Automotive and Transportation
  
Chemicals and Fertilizers
  
Energy and Power
  
Engineering/Fabrication
  
Electrical and Electronics
  
Water and Wastewater
  
Oil and Gas
  
Others (include Cement, Glass, etc.)


Key Market Players included in the report:


  
Aaeon
  
ABB (Switzerland).
  
ACS Motion Control
  
Advantech (Taiwan)
  
B&R Automation
  
Beckhoff Automation
  
Belden (US)
  
Bosch Rexroth AG
  
Cisco Systems Inc.
  
Eaton
  
Emerson Electric Company
  
Ericsson
  
GE Grid Solutions, LLC
  
General Electric Co.
  
Hans Turck GmbH & Co. Kg
  
Hms Industrial Networks
  
Honeywell International
  
Huawei Technologies (China)
  
Ifm Electronic GmbH
  
Infineon Technologies AG
  
Mitsubishi Electric (Japan)
  
Moxa (Taiwan)
  
National Instruments Corp.
  
Omron Corporation
  
Rockwell Automation (US)
  
Schneider Electric (France)
  
SICK (Germany)
  
Siemens (Germany)
  
TE Connectivity Ltd
  
Texas Instruments Incorporated