Global Industrial Communication Market: Overview
The rapid developments in the field of science and technology are expected to aid the expansion of the global industrial communication market over the forecast period. Industrial communication systems allow us to integrate data networks that are highly futuristic.
The report includes key information about the major trends, restraints, growth drivers, and opportunities in the global industrial communication market. The market forecasts, supply and demand ratio, Porter’s five force analysis, value chain analysis, and key segments of the market are discussed in the report. The report also reveals the prominent recent developments in the competitive landscape, the market shares held by the major firms, and the business strategies adopted by them.
Global Industrial Communication Market: Trends and Opportunities
Increasing adoption of IoT, growing need for interconnectivity between various devices and sharing of data, necessity of increasing safety and productivity are some of the key growth drivers of the global industrial communication market. The increased adoption of the IoT is likely to make considerable changes in the way different products are manufactured, developed, transported, and distributed. Growing number of end-user industries such as aerospace, transportation and automotive, defense, paper, cement, electrical and electronics, energy and power, pharmaceutical, oil and gas, food and beverages, mining, glass, fabrication or engineering, water and wastewater, and chemicals and fertilizers will benefit the market for industrial communication.
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The key communication protocols such as industrial Ethernet, wireless communication, and Fieldbus can be the major segments of the industrial communication market. Of these, the Fieldbus protocol appears to present significant prospects, owing to its widespread adoption in key process industries. Fieldbus has a strong hold particularly in the emerging economies such as India, Japan, and China. It is likely to present extensive opportunities as they are able to integrate with wireless devices, increasing the level of efficiency.
Besides Fieldbus, Ethernet is also expected to witness an upsurge in demand as it is steadily becoming popular due to its better performance outputs when compared to other systems. This can be attributed to the enhanced bandwidth capacity, increased network coverage, and increased transmission efficiency. The increasing deployment of this protocol in the industrial robot market is also responsible for the promised growth of this segment.
The wireless protocol segment might also undergo tremendous growth during the forecast period, displaying a favorable CAGR. Increased usage of standardized wireless technologies such as Bluetooth technology and wireless WLAN will contribute towards growth.
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Global Industrial Communication Market: Regional Outlook
Based on geography, the global market for industrial communication can be segmented into Europe, Asia Pacific, North America, and the Rest of the World. The countries of Asia Pacific, being some of the major global producers of consumer electronics, are expected to drive the demand for industrial communication. Also, emerging economies such as India, China, and Japan have become hubs for large scale automotive production, boosting the growth further.
Companies Mentioned in the Report
The major companies operating in the global Emerson Electric Company, Texas Instruments Incorporated, General Electric, Schneider Electric SE, TE Connectivity Ltd, Infineon Technologies AG, Siemens AG, and Rockwell Automation, Inc. Several market players are concentrating their energies on product development through increased investments in research and development activities.
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