New York, Oct. 12, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Communication Market with COVID-19 impact by Offering, Communication Protocol, End-use application And Region - Global Forecast to 2025" - https://www.reportlinker.com/p04243647/?utm_source=GNW
The persistent rise in machine-to-machine communication is another key factor that is expected to propel the growth of the market.
Components segment to account for largest share of industrial communication market during forecast period
Networking components, such as switches, hubs, gateways, and routers, play a crucial role in the successful operation of any network, as they provide a reliable communication network for machine tools and motion control applications in process and discrete industries.
Wireless segment to witness highest growth in industrial communication market in coming years
The number of wireless connections in industrial applications has increased considerably over the past few years as a result of improved network coverage, transmission quality, and bandwidth capacity.Advancements in wireless communication technologies, especially WHART, cellular, and WLAN, are helping various companies to remotely monitor their assets.
The speed and simplicity of the installation of wireless networks are making them popular, as they can be deployed to facilitate industrial communication even under extreme environments. These factors are expected to widen the application of wireless technology for industrial communication in process and hybrid industries during the forecast period.
Automotive application is attributed to hold largest share of market in 2019
Automotive is amongst the largest industries and one of the oldest applications of industrial communication. It would continue to dominate the industrial communication market due to the growing need for advanced automation in automobile manufacturing hubs around the world.
The response of manufacturers to the COVID-19 pandemic has been varying.For instance, while some manufacturers are decreasing production and furloughing workers, others are increasing, shifting, or relocating production to meet the demand.
Tesla, Ford, GM, ArcelorMittal, and Air Products are a few examples of the companies that have innovated to manufacture new products or shifted production to meet demand.
APAC to witness highest CAGR in the industrial communication market during the forecast period
APAC is a leading industrial hub for several industries, including automotive, electrical, and electronics.It is also the largest automobiles producer in the world.
In APAC, countries such as China, India, and South Korea are the leading manufacturers of consumer electronics devices, including smartphones, laptops, and gaming consoles. The large-scale development exhibited by the emerging economies in this region with the use of advanced technologies for manufacturing is contributing to the growth of the industrial communication market.
In APAC, investments look promising as the majority of countries such as China, Japan, and South Korea have been more successful in containing the spread of COVID-19 than the US and European countries. China is easing the restrictions imposed on the operations of factories and the movement of workers.
The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 - 18%, Tier 2 - 22%, and Tier 3 - 60%
• By Designation: C-level Executives - 21%, Manager Level - 35%, and Others - 44%
• By Region: North America - 22%, Europe - 26%, APAC - 39%, and RoW - 13%
The major players in the industrial communication market are 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).
Research Coverage:
This research report categorizes the industrial communication based on offering, communication protocol, end-use application, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the industrial communication market and forecasts the same till 2025.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the industrial communication market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes product launches, acquisition, and expansions.
4. This report would help understand the pre and post-COVID-19 scenarios as to how would the penetration of industrial communication will look like for the forecast period. The region segment includes the country wise impact analysis of COVID-19 and initiatives taken to overcome these impacts.
Read the full report: https://www.reportlinker.com/p04243647/?utm_source=GNW
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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.
| Source: ReportLinker