Global Industrial Communication Market Size By Offering, By Communication Protocol, By Application, Geographic Scope and Forecast
Industrial Communication Market Size And Forecast
Industrial Communication Market was valued at USD 85.73 Billion in 2018 and is projected to reach USD 213.2 Billion by 2026, growing at a CAGR of 12% from 2019 to 2026.
Global Industrial Communication Market Overview
Rise of digital industrial technologyIndustry 4.0, and initiatives taken by governments across the globe toward the adoption of industrial automation are some of the major factors driving the growth of the market. There are several advantages to the implementation of industrial communication such as the increase in the efficiency of the communication protocol, as well as the automation of industrial processes. The key driving aspect is the Industry 4.0 revolution. The industry segments are going through a stage of digital disruption. The industries are leveraging on progressive technologies and machines, such as Industrial automated machines, IoT, additive manufacturing, accompanied by advanced materials to adapt their business models and gain operational effectiveness. This is empowering organizations to progress the smart supply chain, improved manufacturing process, and an efficient end-to-end ecosystem. The increasing need between the industry verticals to decrease the cost of operation & upsurge efficiency is the primary factor enhancing the demand for automation.
Global Industrial Communication Market: Segmentation Analysis
Global Industrial Communication Market is segmented based on Offering,Communication Protocol,Applications, And Geography.
Key Players in Industrial Communication Market
The major players in the market are
- OMRON Corporation
- Schneider Electric SE
- Siemens AG
- ABB LTD.
- Rockwell Automation, Inc.
- Advantech Co., Ltd.
- IFM electronic Gmbh
- HMS Industrial Networks
- Cisco Systems, Inc.
- Moxa Inc.
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