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.
In 2019, the
industrial communication market was mainly dominated by 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 and ABB (Switzerland).
Product launches and developments, expansions and acquisitions have been the
most dominating strategies adopted by major players from January 2018 to July
2020, which helped them to innovate on their product offerings, cope up with
the COVID-19 outbreak and broaden their customer base.
Top 2
players in the Industrial Communication Market are:
Cisco (US)
Cisco Systems
specializes in developing Internet Protocol-based (IP-based) networking
technologies. The company designs and sells a broad range of products, provides
services, and delivers integrated solutions around the world to develop and
connect networks that build the Internet.
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It operates through
5 segments: Infrastructure Platforms, Services, Applications, Security, and
Others. Its service offerings include technical support services and advanced
services-as-solutions, including cloud, video, mobility, security,
collaboration, and analytics.
Siemens
(Germany)
Siemens is
positioned globally in the fields of electrification, automation, and
digitalization. It is a leading supplier of systems for power generation and
transmission, and medical diagnosis. The company also plays a pioneering role
in infrastructure and industrial solutions.
Siemens operates its
industrial business through the Gas and Power, Digital Industries, Smart
Infrastructure, Siemens Healthineers, Siemens Gamesa Renewable Energy, and
Mobility segments. The Digital Industries segment offers a wide-ranging product
portfolio and systems solutions for automation in discrete and process
industries. These offerings comprise automation systems and software for
factories, motors, numerical control systems, drives, and inverters, and
integrated automation systems for machine tools and production machines. This
segment also provides process control systems, machine-to-machine communication
products, and radio frequency identification systems.
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