Selbyville, DE -- (SBWIRE) -- 05/18/2020 -- The global industrial communication market has thrived successfully in the recent decade as growing adoption of these components in Industry 4.0 has effectively helped increased productivity in major industries. Labor reduction, waste reduction, repeatability, enhanced quality control, and integration with existing business systems have given companies an added advantage by lowering long-term costs, which could indirectly increase product output and revenue.
An industrial communication network is the backbone for any automation system architecture as it can offer powerful means of data exchange, controllability and flexibility to connect to various devices. The use of digital communication networks in industries can also lead to improved end-to-end digital signal accuracy and integrity.
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Industrial Communication Market is expected to surpass USD 160 billion in revenue by 2025. The extensive usage of Industry 4.0 technologies in the industrial landscape is driving the growth of the industrial communication market. Several enterprises are leveraging on various next-generation industrial technologies, such as Industrial Internet of things (IIoT) and additive manufacturing, to enhance the operational efficiency by incorporating new business models into their assembly lines. This has allowed the companies to build smart supply chains with an efficient-end to-end ecosystem. The gradually rising need among various industry verticals to minimize their CAPEX while increasing operational efficiency is a key factor promoting the demand for automation.
The influx of various favorable government initiatives to promote digitization and automation is incentivizing industries to upgrade their existing communication infrastructure. The regulatory bodies are working closely with industry giants, such as Siemens, ABB, and GE, to promote the use of advanced communication solutions. Moreover, the introduction of new and advanced communication protocols & standards is also spurring the industrial communication market. Most of the legacy protocols are series based, unable to keep up with the real-time data transmission needs of IIoT devices. To address these issues, enterprises are progressively moving toward new and flexible connectivity mechanisms.
Top Key Player Are: ABB Ltd., ACS MOTION CONTROL, Advanced Motion Control, ADVANTECH Co. Ltd., Beckhoff Automation GmbH, Belden Inc., Bosch Rexroth AG, Cisco System Inc., Eaton Corporation, General Electric, HMS Industrial Networks, Honeywell International Inc., Ifm electronic gmbh, Mitsubishi Electric Group, Moxa Inc., Omron Corporation, Parker Hannifin Inc., Rockwell Automation, Schneider Electric, Sick AG, Siemens AG

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The hardware market has held a major share in the industrial communication market due to the widespread usage of physical infrastructure components such as routers, switches, controllers, and communication interface devices. Switches accounted for over 25% revenue in the market landscape as it plays a pivotal role in the overall functioning of the network infrastructure for implementing new connectivity-enabled strategies. The technological advancements in industrial switches have encouraged its usage in industries with harsh working environments. The services market will attain a CAGR of 10% over the forecast time period. This is attributed to the increasing demand for efficient & reliable communication architecture among companies. The upgrade of the infrastructure involves the integration of numerous software & hardware components that demand strong technical expertise to ensure long-term stability of the network.
Table Of Content:

Chapter 5. Industrial Communication Market, By Component
5.1. Key trends, by component
5.2. Hardware
5.2.1. Market estimates and forecast, 2014 – 2025
5.2.2. Switches
5.2.2.1. Market estimates and forecast, 2014 – 2025
5.2.3. Hubs, routers & gateways
5.2.3.1. Market estimates and forecast, 2014 – 2025
5.2.4. Connectors
5.2.4.1. Market estimates and forecast, 2014 – 2025
5.2.5. Communication interfaces
5.2.5.1. Market estimates and forecast, 2014 – 2025
5.2.6. Controllers & processors
5.2.6.1. Market estimates and forecast, 2014 – 2025
5.2.7. Others
5.2.7.1. Market estimates and forecast, 2014 – 2025
5.3. Software
5.3.1. Market estimates and forecast, 2014 – 2025
5.4. Services
5.4.1. Market estimates and forecast, 2014 -- 2025
5.4.2. Installation service
5.4.2.1. Market estimates and forecast, 2014 – 2025
5.4.3. Mainteance service
5.4.3.1. Market estimates and forecast, 2014 – 2025
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