The industrial communication market is forecasted to grow by USD 81.2 bn during 2023-2028, accelerating at a CAGR of 11.01% during the forecast period. The 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.
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
9.63%
CAGR
11.01%
Incremental Value
$81.2bn
Technavio's industrial communication market is segmented as below:
By Product
Fieldbus
Industrial Ethernet
Wireless
By Type
Component
Software
Services
By Geography
APAC
North America
Europe
South America
Middle East and Africa
This 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.
The report on the industrial communication market covers the following areas:
Industrial communication market sizing
Industrial communication market forecast
Industrial communication market industry analysis
The 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., OMRON Corp., Phoenix Contact GmbH and Co. KG, 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.
The publisher 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. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market by Geography
Executive Summary - Chart on Market Segmentation by Product
Executive Summary - Chart on Market Segmentation by Type
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ billion)
Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Industrial Communication Market 2018 - 2022
Historic Market Size - Data Table on Global Industrial Communication Market 2018 - 2022 ($ billion)