Industrial Communication Market Expected to Generate $213.2 Billion in Revenue by 2026, Globally, at a CAGR of 12%: Verified Market Research®

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Rise of Digital Industrial Technology – Industry 4.0 and initiatives by governments across the globe for the adoption of industrial automation are some of the major growth drivers for the industrial communication market.

JERSEY CITY, NJ, September 8, 2022 /PRNewswire/ — Verified Market Research recently released a report, “Industrial communication market” By offering (components, software and services), by communication protocol (fieldbus, industrial Ethernet and wireless), by application (automotive and transportation, electrical and electronics, engineering/manufacturing, water and wastewater and others) and By Geography According to Verified Market Research, the industrial communication market size was valued at $85.73 billion in 2018 and should reach $213.2 billion by 2026, growing at a CAGR of 12% from 2019 to 2026.

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Browse the table of contents in depth on “Industrial Communication Market”

202 – Pages

126 – Tables

37 – Numbers

Overview of the global industrial communication market

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

Rise of digital industrial technology – Industry 4.0 and initiatives taken by governments across the world for the adoption of industrial automation are some of the major drivers for the growth of the market. The implementation of industrial communication has several advantages such as increasing the efficiency of the communication protocol, as well as automating industrial processes. The key driving force is the Industry 4.0 revolution. Industry segments are going through a phase of digital disruption. Industries rely 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 efficiency. This enables organizations to advance smart supply chain, manufacturing process improvement, and an efficient end-to-end ecosystem. The growing need among industry verticals to reduce operating costs and scale-up efficiency is the major factor driving the demand for automation.

Key players

The main market players 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.

Verified Market Research has segmented the global industrial communication market on the basis of supply, communication protocol, applications, and geography.

  • Industrial Communication Market, By Offer

  • Industrial Communication Market, By Communication Protocol

  • Industrial Communication Market, By Applications

  • Industrial Communication Market, By Geography

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