The industrial
communication market 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.
Drivers:
Growing need for scalable, faster, reliable, and interoperable communication
protocols
Industrial Ethernet
is important for achieving complete transparency within an industrial plant, as
well as between the plant and enterprise networks. A reliable communication
network is the core of the Industry 4.0 concept. Both industrial automation and
industrial communication networks are closely dependent on real-time
operational needs. Hence, they must be able to handle information in a
deterministic and redundant method. The networks must be scalable across a wide
range of equipment operating on multiple different standards with a variety of
interfaces. A factory system should be capable of offering faster response
times, better efficiency, and greater reliability. To achieve these benefits,
designers must select the best communication technology, navigate a
multiprotocol environment, and cover a wide range of industrial equipment.
Therefore, the need for scalable and interoperable protocols is driving industry
initiatives to develop a newer set of communication products.
Increasing
use of digital twin to safely monitor smart manufacturing operations
A digital twin is a
virtual model of a product, process, or service. The actual product, process,
or service pairs with the virtual model, allowing data analysis of the product
or operation, remote monitoring of the system, and prevention of downtime. The
COVID-19 crisis has brought most of the manufacturing activities to a halt.
There have been disruptions in supply chains of industries, and global
production has dropped considerably. For the companies using digital twin
solutions, the monitoring of the bare minimum operations and manufacturing
activities, wherever they have resumed with limitations, will become a driving
factor for digital twins in smart manufacturing. Using a digital twin, data
analysis and monitoring could be done remotely and safely from home with the
help of the Internet of Things.
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Increasing
machine-to-machine communication
Better connectivity
for smooth communication and low power requirements are the key reasons for the
increased adoption of new machine-to-machine (M2M) technologies. To achieve
effective M2M communication, the existing capacity of mobile networks must be
able to handle billions of nodes that are expected to be deployed in the next
couple of years. Currently, the network capacity is not capable of handling M2M
and human-based communications, as well as their different communication
patterns, including latency time. For this reason, a next-level cellular
network for mobile communication, featuring hyper-connectivity and larger
bandwidth (e.g., 5G), is required. The M2M communication technology will be
widely used in the coming years in heavy manufacturing industries and process
industries (e.g., food industry) to increase the efficiency of different
processes and reduce human intervention for machines.
APAC to have
highest CAGR in industrial communication market during 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.
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