Global Industrial Communication Market Share, Size, Estimates, Trends and Forecast 2023

According to Stratistics MRC, the Global Industrial Communication Market is accounted for $60.40 billion in 2016 and is expected to reach $155.22 billion by 2023 growing at a CAGR of 14.4% during the forecast period.

Increasing adoption of industrial internet of things, rising usage of connected devices in industrial control systems (ICS), implementation of M2M solutions and government initiatives to support industrial automation are some of the key factors which are fuelling the market growth. However, lack of standardization among different equipment manufacturers is hampering the market.

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An industrial communication is a main strength for any automation system architecture as it has been given that a powerful means of data controllability, data exchange and flexibility to connect various devices. With the use of proprietary digital communication networks in industries over the past decade led to improve end-to-end digital signal accuracy and integrity. The networks can be either LAN or WAN enables to communicate vast amounts of data using a limited number of channels. Industrial networking also led to the implementation of various communication protocols between digital controllers, field devices, and various automation related software tools and also to external systems.

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The wireless protocol segment is expected have significant growth in the global market during the forecast period. The growth is attributed to the increasing demand for industrial communication from the manufacturing industry and energy utilities for digital transformation. Improvements in wireless communication technologies particularly in cellular, WHART, and WLAN technologies are helping different companies to remotely monitor their assets from anyplace in the world. North America is dominating the market due to prevalence of Internet of Things and advancements in technology.

Some of the key players in the Industrial Communication market include ABB Ltd, General Electric, Schneider Electric Se, Siemens AG, Advantech Co., Ltd, Infineon Technologies AG, National Instruments, TE Connectivity Ltd, Texas Instruments Incorporated, Rockwell Automation, Inc., Beckhoff Automation, Cisco Systems, Emerson Electric and Endress+Hauser.

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Applications Covered:
• Engineering/Fabrication
• Water and Wastewater
• Mining
• Energy & Power
• Pharmaceutical
• Oil & Gas
• Food & Beverages
• Chemicals and Fertilizers
• Aerospace & Defense
• Electrical and Electronics
• Automotive & Transportation
• Utilities
• Manufacturing
• Other Application

Offerings Covered:
• Services
• Software
• Component

Communication Protocols Covered:
• Wireless
• Fieldbus
• Industrial Ethernet

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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Contact Info:
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Organization: Stratistics Market Research Consulting Pvt Ltd

Release ID: 290291