Industrial Communication Market Worth $24.5 Billion by 2026 At A Growth Rate of 6.2%


Industrial Communication Market

Market Research Reports, Business Consulting Services & Analytics

The Interoperable Protocols Must Go Hand In Hand With Wide Range Of Industrial Equipment’s Will Drive The Growth Of Industrial Communication Market.

HYDERABAD, TELANGANA, INDIA, September 29, 2022 / — IndustryARC, in its latest report, predicts that The Global Industrial Communication Market is estimated to surpass $24.5 billion mark by 2026 growing at an estimated CAGR of more than 6.2% during the forecast period 2021 to 2026. The increase in the growth of devices to other device communication with the industrial fieldbus protocols will increase the market growth. These factors are set to boost the market growth for Industrial Communication market during the forecast period 2021-2026. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways :

1. Increased adoption of advanced technology increased usage of standardized wireless technologies such as Bluetooth ad WLAN contributes more for the growth.

2. Industrial Ethernet plays a major driving factor in the Industrial communication market. It has the ability to connect for the long distance also able to connect more nodes for the communication purpose in the industry.

3. APAC being the major producer of consumer electronics and expected to increase the demand for the industrial communication.

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Segmental Analysis :

1. Industrial Communication market is segmented into Fieldbus Protocol, Industrial Ethernet protocol, And Wireless protocol based on the industrial Communication protocol. Ethernet holds the major share in the market at 62% in 2020. Fieldbus protocol follows at 31% in 2020.

2. Industrial communication market is segmented into Automotive and Transportation, Electronics, Aerospace, Oil & gas, Water & waste water, Energy and power, Mining, and others based on the end user industry. The leading sector which uses the industrial communication is Automotive and Transportation which accounts for 23% share in 2020.

3. Industrial Communication market is dominating in APAC region with major share of revenue and demand in 2020 at 35.6%. Developing countries like China and India are the largest producers of the electronic products and they are moving towards to the adoption of advanced technology and in-turn boosting the automotive sector by the use of automation.

Competitive Landscape :

The top 5 players in the Industrial Communication Industry are –

1. Emerson Electric Company

2. General Electric

3. Schneider Electric

4. TE connectivity

5. Siemens AG

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Related Reports :

A. Industrial Communication Market

B. Industrial Ethernet/IP Market

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