Global Industrial Communication Market Size, Share, Price, Trends, Forecast 2024-2032

Industrial Communication Market Size And Forecast

Industrial Communication Market size was valued at USD 133.28 Billion in 2024 and is projected to reach USD 295.83 Billion by 2031, growing at a CAGR of 10.48% from 2024 to 2031.

The rise of digital industrial technology—Industry 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 Global Industrial Communication Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Industrial Communication Market Definition

Industrial communication is a communication protocol that consists of a set of rules that allow for the transfer and exchange of data between devices in order for them to communicate. With technological advancements comes advancement in the field of electronics, which has allowed for the automation of industrial processes. An industrial communication network allows for an efficient means of data exchange, data controllability, and flexibility to connect various devices and acts as a backbone for any automation system architecture.

Global Industrial Communication Market Overview

Industrial Communication can be defined as a communication protocol that has a set of rules which allow for the transfer and exchange of data between devices in order to be able to communicate. With the advancements in technology comes the development in the field of electronics, which has allowed for the automation of industrial processes. An industrial communication network allows for an efficient means of data exchange, data controllability, and flexibility to connect various devices and acts as a backbone for any automation system architecture.

The rise of digital industrial technology—Industry 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.

Industries are leveraging progressive technologies and machines, such as Industrial automated machines, IoT, and 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 the 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.

There are certain restraints and challenges faced which will hinder market growth. Factor such as the lack of standardization among equipment manufacturers regarding their design and use is restraining the growth of the market. However, lack of standardization concerning technology as some vendors offer customized modules that are capable of supporting a few of the communication protocols. The major challenge faced by the Industrial Communication Market is cybersecurity threats.

Global Industrial Communication Market: Segmentation Analysis

The Global Industrial Communication Market is Segmented on the basis of Offering, Communication Protocol, Application, And Geography.

Industrial Communication Market, By Offering

• Components
• Software
• Services

Based on Offering, the market is bifurcated into Components, Software, and Services. The components segment is predicted to hold the most significant CAGR in the forecast period Owing to the large-scale acceptance of physical network infrastructure components, such as controllers, switches, routers, and communication interface devices. Switches account for more shares in the segment owing to the rapid digitalization of industrial processes.

Industrial Communication Market, By Communication Protocol

• Fieldbus
• Industrial Ethernet
• Wireless

Based on Communication Protocol, the market is bifurcated into Fieldbus, Industrial Ethernet, and Wireless. Fieldbus held the largest share in the Industrial Communication Market owing to its extensive adoption in crucial process industries. Fieldbus has a stronghold mainly in emerging economies such as Japan, India, and China. It is expected to present wide opportunities as they can integrate with wireless devices, growing the level of efficiency. The cumulative degree of robotization & automation between industrial projects also supports the growth of the Fieldbus market.

Industrial Communication Market, By Application

• Automotive and Transportation
• Electrical and Electronics
• Engineering/Fabrication
• Water and Wastewater
• Others

Based on Application, the market is bifurcated into Automotive and Transportation, Electrical and Electronics, Engineering/Fabrication, Water and Wastewater, and Others. The automotive & transportation sector is leading the Industrial Communication Market’s highest share. The rising implementation of the Industry 4.0 revolution in the automotive sector is accelerating the market. The automotive industry is leveraging progressive technologies to generate an effective manufacturing procedure to gain an advantage in terms of operational cost of production, efficiency, and flexibility of the process. Furthermore, automation of the manufacturing & assembling procedure by the automaker nurtures market growth.

Industrial Communication Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the Global Industrial Communication Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share of the market will be dominated by Asia Pacific. The countries of Asia Pacific, being some of the key global producers of consumer electronics, are projected to drive the demand for industrial communication. As well, emerging economies such as China, India, and Japan have become hubs for big-scale automotive production, boosting growth further.

Key Players

The “Global Industrial Communication Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as OMRON Corporation, Schneider Electric SE, Siemens AG, ABB LTD., Rockwell Automation, Inc., Advantech Co., Ltd., IFM Electronic Gmbh, HMS Industrial Networks, Cisco Systems, Inc., and Moxa Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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