Global Industrial Communication Market Size study & Forecast, by Offering (Introduction, Components, Software, Services), by Communication Protocol (Introduction, Fieldbus, Industrial Ethernet, Wireless), by Vertical (Industrial, Automotive, Electrical &

Global Industrial Communication Market Size study & Forecast, by Offering (Introduction, Components, Software, Services), by Communication Protocol (Introduction, Fieldbus, Industrial Ethernet, Wireless), by Vertical (Industrial, Automotive, Electrical & Electronics, Aerospace & Defense, Others) and Regional Analysis, 2023-2030
Global Industrial Communication Market is valued at approximately USD 20.7 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.7% over the forecast period 2023-2030. Industrial communication refers to the network infrastructure and technologies utilized for seamless and reliable data exchange within industrial environments. It encompasses a wide range of wired and wireless communication systems, protocols, and devices that connect and coordinate industrial equipment, machinery, sensors, and control systems. Industrial communication enables real-time monitoring, control, and integration of industrial processes, facilitating efficient operations, automation, and data-driven decision-making. It plays a crucial role in industrial automation, Industry 4.0 initiatives, and the Industrial Internet of Things (IIoT), ensuring effective communication, interoperability, and connectivity across the industrial ecosystem. The factors driving the market growth are increasing industrial automation and growing demand for Real-Time Data Exchange.

As industries automate their processes, there will be a growing need for reliable and efficient communication systems to connect various devices and enable seamless data exchange. This will drive the demand for industrial communication technologies such as Ethernet, wireless networks, and industrial protocols. The industrial communication market is poised to experience substantial growth as automation continues to expand across industries, enhancing productivity and efficiency. According to Statista, the size of the global industrial automation market was approx. USD 207 billion and is expected to grow at a CAGR of around 9% until 2025. Another factor driving the space is the growing demand for Real-Time Data Exchange for monitoring and controlling operations in industries. Moreover, the integration of Artificial Intelligence (AI) and Machine Learning (ML) and the expansion of the Industrial IoT (IIoT) ecosystem is expected to create lucrative opportunities in the future. However, the high implementation and deployment costs and lack of skilled workforce stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Industrial Communication Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the policies and initiatives taken by the government to drive automation and digitalization in industries, including programs that provide financial incentives and funding for research and development in advanced technologies. Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as the rise in demand for advanced manufacturing hubs for consumer electronics and automobiles in countries such as China and India.

Major market player included in this report are:
Cisco Systems, Inc.
Huawei Technologies Co., Ltd.
Belden Inc.
Bosch Rexroth AG
AAEON Technology Inc.
Honeywell International Inc.
Mitsubishi Electric Corporation
Hans Turck GmbH & Co. KG
Hitachi, Ltd.
ACS Motion Control

Recent Developments in the Market:
In February 2023, Cisco Systems, Inc. launched the 5G Cellular Gateways for fixed wireless access (FWA) under the Meraki brand. The Cisco Meraki MG51 and MG51E gateways leverage 5G technology and prioritize cloud-based networking for efficient Wide Area Networking (WAN) operations.
In December 2022, Rockwell Automation launched FactoryTalk Logix Echo, a new offering designed to simplify the emulator process. It enables users to directly download their programs to FactoryTalk Logix Echo without the need for any modifications or adjustments, streamlining the overall emulator experience.

Global Industrial Communication Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Offering, Communication Protocol, Vertical, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Offering:
Components
Software
Services
By Communication Protocol:
Fieldbus
Industrial Ethernet
Wireless
By Vertical:
Industrial
Automotive
Electrical & Electronics
Aerospace & Defense
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Cisco Systems, Inc.
Huawei Technologies Co., Ltd.
Belden Inc.
Bosch Rexroth AG
AAEON Technology Inc.
Honeywell International Inc.
Mitsubishi Electric Corporation
Hans Turck GmbH & Co. KG
Hitachi, Ltd.
ACS Motion Control

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