The report "Industrial Communication Market with COVID-19 impact by Offering (Components,
Softwares and Services), Communication Protocol (Fieldbus, Industrial ethernet
and Wireless), End-use application, and Region - Global Forecast to 2025", is estimated to be
valued at USD 17.3 billion in 2020 and is projected to reach USD 23.5 billion
by 2025, at a CAGR of 6.3%. This estimation factors in the impact of the
COVID-19 pandemic on the market. The major driving factors are growing need for
scalable, faster, reliable, and interoperable communication protocols. Increase
in use of digital twin to safely monitor smart manufacturing operations is also
expected to drive the industrial communication market growth during the
forecast period. The persistent rise in machine-to-machine communication is
another key factor that is expected to propel the growth of the market.
Services segment to witness highest growth in
industrial communication market in coming years
Rapid changes in
network infrastructure and growing adoption of IIoT have led to the adoption of
cloud and virtualization. This has significantly increased the pressure on
network administrators to manage the network infrastructure. Hence,
manufacturing industries are outsourcing network services to ensure a better
quality of network management and reduce operating costs. Also, post-COVID-19,
most companies are adopting remote network monitoring services, which is
expected to boost the services market during the forecast period.
Industrial Ethernet to account for largest
share of industrial communication market during forecast period
The popularity and
reach of Industrial Ethernet are increasing due to its features such as higher
speed, increased connection distance, and the ability to connect more nodes,
which is perfectly suitable for applications in process industries.
Water & wastewater to grow at highest CAGR
in industrial communication market from 2020 to 2025
Water level
monitoring sensors, AC drives, and controllers are the crucial components of
water treatment systems, and an industrial communication network is used to
facilitate communication among these devices. These factors are expected to
fuel the growth of the industrial communication market for the water &
wastewater end-use application during the forecast period.
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APAC to hold largest share of industrial
communication market during the forecast period
APAC is a leading
industrial hub for several industries, including automotive, electrical, and
electronics. It is also the largest automobiles producer in the world. In APAC,
countries such as China, India, and South Korea are the leading manufacturers
of consumer electronics devices, including smartphones, laptops, and gaming
consoles. The large-scale development exhibited by the emerging economies in
this region with the use of advanced technologies for manufacturing is
contributing to the growth of the industrial communication market.
Key Market Players
The key market
players in the market are Cisco (US), Siemens (Germany), Rockwell Automation
(US), OMRON (Japan), Moxa (Taiwan), Huawei Technologies (China), SICK
(Germany), Schneider Electric (France), Belden (US), Advantech (Taiwan),
Mitsubishi Electric (Japan), and ABB (Switzerland). These players are
increasingly undertaking product launches and developments, expansions, and
acquisitions to develop and introduce new industrial communication solutions in
the market.
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