The industrial
communication market is expected to reach USD 141.0 billion by 2023
from USD 83.2 billion in 2018, at a CAGR of 11.14% during 2018–2023. The market
is mainly driven by the adoption of Industrial Internet of Things (IIoT) and
advancement in M2M communication technology for industrial networking. The
growth of Industry 4.0 practices in Europe and North America propels the growth
of industrial communication. Moreover, the growing penetration of Industry 4.0
and computer-integrated manufacturing (CIM) in developing countries in APAC and
the Middle East is expected to offer new growth opportunities for the
industrial communication solutions providers. The growth of Industry 4.0
practices, specifically, in Europe and North America propels the growth of
industrial communication.
The
industrial communication market is highly competitive owing to the presence of
a large number of players. Product launches and developments, acquisitions, and
partnerships have been the major strategies adopted by the leading players to
grow in the market. Among these strategies, players have widely adopted the
strategies of product launches and developments to remain competitive in the
market. Key players implementing these strategies are SICK AG (Germany), OMRON
Corporation (Japan), Schneider Electric SE (France), ABB Ltd. (Switzerland),
Belden Inc. (US), Moxa Inc. (US), Siemens AG (Germany), Rockwell Automation,
Inc. (US), GE Grid Solutions, LLC (US), Cisco Systems, Inc. (US), Advantech
Co., Ltd. (Taiwan), HMS Industrial Networks (Sweden), IFM Electronic GmbH
(Germany), and Mitsubishi Electric Group (Japan).
Top
2 players in industrial communication market:
Rockwell is
one of the largest companies dedicated to industrial automation and
information, which strives to improve the productivity and market sustainability
of its customers. Rockwell focuses on R&D to stay ahead of its competitors
in the market. Its R&D efforts are aimed at increasing efficiency,
improving customer focus, and reducing the lead time to market for new
products. With a strong technology foundation and deep understanding of its
clients, the company is strongly positioned to deliver unparalleled value
through innovative products and solutions across the automation industry.
Rockwell serves its customers in a wide range of industries, including consumer
products, resource-based industries, and the transportation industry. Rockwell
Automation focuses on the expansion strategy to increase its geographic
footprint in the global industrial communication market. It establishes
partnerships and acquisitions, primarily, to strengthen its business. For
instance, in June 2018, Rockwell Automation, Inc. partnered with PTC Inc. (US)
with an aim to increase its product portfolio in wireless communication.
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Siemens holds
a strong position in the industrial communication market for its products and
solutions offering. The Siemens Digital Factory division business has presence
grown in all regions. It has a stronger market in Asia and Australia than other
regions, with the accelerated growth in Europe. It has been facing high demand
from the consumer-centric manufacturing industries in the US, whereas factory
automation investment slowed in oil and gas producing countries owing to the
slowdown in the gas industry worldwide. As part of its major growth strategies,
it focuses on the innovation-driven growth markets by expanding and
strengthening its product portfolio. For instance, in May 2018, Siemens
launched industrial Ethernet switches with special functions for process
industries.
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