Global Industrial Communication Market 2023-2027

Global Industrial Communication Market 2023-2027

Technavio has been monitoring the industrial communication market and is forecast to grow by USD 73.71 bn during 2022-2027, accelerating at a CAGR of 10.92% during the forecast period. Our report on the industrial communication market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising adoption of IIoT technology, emergence of new and innovative fieldbus, and increasing deployment of industrial ethernet solutions.

Technavio's industrial communication market is segmented as below:

By ProductFieldbusIndustrial EthernetWirelessBy TypeComponentSoftwareServicesBy GeographicalAPACNorth AmericaEuropeSouth AmericaMiddle East and AfricaThis study identifies the integration of fieldbus with IIoT as one of the prime reasons driving the industrial communication market growth during the next few years. Also, rising adoption of industrial communications in machine vision systems and faster network redundancy features offered by ethernet will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the industrial communication market covers the following areas:Industrial communication market sizingIndustrial communication market forecastIndustrial communication market industry analysisTechnavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading industrial communication market vendors that include ABB Ltd., Advantech Co. Ltd., ASUSTeK Computer Inc., Beckhoff Automation GmbH and Co. KG, Belden Inc., Cisco Systems Inc., Emerson Electric Co., FANUC Corp., General Electric Co., Huawei Technologies Co. Ltd., ifm electronic GmbH, Moxa Inc., National Instruments Corp., OMRON Corp., Physik Instrumente GmbH and Co. KG, Rockwell Automation Inc., Schneider Electric SE, SICK AG, Siemens AG, and Texas Instruments Inc. Also, the industrial communication market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.