Industrial Communication Market Expected to Behold a CAGR of 12.36% During 2016– 2022
According to the new market research report on industrial communication, this market is expected to be worth USD 130.33 billion by 2022, growing at a CAGR of 12.36% between 2016 and 2022. The growth of the industrial communication market can be attributed to the increasing demand for industrial communication in electronics and automotive manufacturing applications. The market for industrial communication technology is expected to grow because of the increased requirements for sharing information database, enhancing energy efficiency, increasing safety, and reducing downtime. The growing adoption of IIoT plays a significant role in the growth of the industrial communication market. The growing machine-to-machine communication is also driving the growth of the industrial communication market. However, the adoption of different standards by different equipment manufacturers hinders the data collection and information generating process for the industrial communication market.
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“Fieldbus communication protocol holds the largest share”
This report covers Fieldbus, industrial Ethernet, and wireless communication protocol used in industrial communication. Fieldbus still holds the largest share of the industrial communication market in major process industries, and has a strong base in developing regions such as India and China with its ability to integrate with wireless devices across multiple networks and significantly help in improving the overall plant performance, environmental safety, and efficiency.
“Industrial communication market in APAC expected to grow at the highest rate”
This report covers regions including North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market in APAC is expected to grow at a high CAGR between 2016 and 2022. The major reason for the growth of the industrial communication market in APAC is that it is one of the largest producers of consumer electronics in the world, which is boosting the use of advanced automation in these industries which, in turn, uses industrial communication systems. APAC is also the major automotive production hub in the world, which boosts the market for industrial communication in automotive manufacturing applications.
Breakdown of profile of primary participants:
• By Company Type: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
• By Designation: C level – 50%, Director level – 25%, and others – 25%
• By Region: North America – 60%, APAC – 10%, Europe – 20%, and RoW – 10%
The companies that are profiled in the report are Schneider Electric SE (France), Texas Instruments Incorporated (U.S.), TE Connectivity Ltd (Switzerland), Siemens AG (Germany), ABB LTD (Switzerland), Rockwell Automation, Inc. (U.S.), Emerson Electric Company (U.S.), National Instruments (U.S.), Infineon Technologies AG (Germany), General Electric (U.S.), and Advantech Industrial Automation Group (U.S.).
Related Report:
Global Iot Communication Protocol Industry Market Research Report
The Iot Communication Protocol market revenue was xx.xx Million USD in 2013, grew to xx.xx Million USD in 2017, and will reach xx.xx Million USD in 2023, with a CAGR of x.x% during 2018-2023. Based on the Iot Communication Protocol industrial chain, this report mainly elaborate the definition, types, applications and major players of Iot Communication Protocol market in details. Deep analysis about market status (2013-2018), enterprise competition pattern, advantages and disadvantages of enterprise Products, industry development trends (2018-2023), regional industrial layout characteristics and macroeconomic policies, industrial policy has also be included. From raw materials to downstream buyers of this industry will be analyzed scientifically, the feature of product circulation and sales channel will be presented as well. In a word, this report will help you to establish a panorama of industrial development and characteristics of the Iot Communication Protocol market.
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