NEW YORK, Oct. 25, 2016 /PRNewswire/ -- 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.
"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.).
This report covers the key software, services, and components of the industrial communication market. The communication protocols include three major types, namely, Fieldbus, industrial Ethernet, and wireless. The report covers various end-use applications including automotive and transportation, electrical and electronics, aerospace and defense, oil and gas, water and wastewater, food & beverages, pharmaceutical, energy and power generation, mining, chemicals and fertilizers, and engineering/fabrication. The entire industrial communication is divided on the basis of region into North America, Europe, APAC, and RoW.
Reasons to buy the report:
- This report includes the market statistics pertaining to offering, communication protocol, end-use application, and geography along with their respective revenue.
- The Porter's Five Forces framework has been provided along with the value chain analysis to provide an in-depth insight into the industrial communication market.
- The major drivers, restraints, challenges, and opportunities for the industrial communication market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for industrial communication markets based on offering, communication protocol, end-use application, and geography have been conducted to give an overall view of the industrial communication market.
- The detailed competitive landscape has been provided including key players, in-depth analysis, and revenue of key players.
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