Dublin, Oct. 25, 2018 (GLOBE NEWSWIRE) -- The "IO-Link Market by Component (IO-Link Masters and IO-Link Devices), Application (Machine Tool, Handling & Assembly Automation, Packaging, Intralogistics), Industry (Discrete, Hybrid, and Process), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The IO-Link market is expected to reach USD 12.20 billion by 2023 from USD 2.87 billion in 2018, at a CAGR of 33.56%
The ability of IO-Link to support several higher level Fieldbus and Ethernet communication protocols and high focus on increasing energy efficiency, optimizing resources, and reducing production costs are a few major factors driving the growth of IO-Link market. However, the limitation of IO-Link in high-speed or motion control applications and lack of standardization are restraining the market growth.
In an industrial setup, IO-Link technology enables various sensors, modules, RFID read heads, and actuators to connect. IO-Link makes it possible to drive industrial communication from the lowest level of automation, i.e., the sensor level. With the IO-Link communication protocol, which is an easier diagnostic solution in which wiring is simple and standardized and standstill downtimes are reduced through simple configuration, industrial automation can be designed more efficiently.
Japan and China are the major contributors to the IO-Link market in APAC. The adoption of industrial automation in China is increasing at a rapid pace due to the growing industrial sector and rising per capita income in the country. This is leading to the increasing adoption of advanced manufacturing technologies. Furthermore, rapid technological advancements and a high degree of R&D in the country are expected to create several opportunities for the players in the IO-Link market in this country.
Siemens (Germany), Balluff (Germany), ifm electronic (Germany), SICK (Germany), Rockwell Automation (US), Festo (Germany) Omron (Japan), Banner Engineering (US), Hans Turck (Germany), Pepperl & Fuchs (Germany), and Datalogic (Italy) are a few key players in the IO-Link market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in IO-Link Market
4.2 IO-Link Master Market, By Interface (USD Million)
4.3 IO-Link Device Market, By Type (USD Million)
4.4 IO-Link Market, By Application (Million Units)
4.5 IO-Link Market, By Industry Type (Million Units)
4.6 IO-Link Market in APAC, By Application and Country (Million Units)
4.7 IO-Link Market, By Geography (Million Units)
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Initiatives of Governments Across the World Toward the Adoption of Industrial Automation
5.1.1.2 High Focus on Increasing Energy Efficiency, Optimizing Resources, and Reducing Production Costs
5.1.1.3 Rise of Digital Industrial Technology Industry 4.0
5.1.1.4 Ability of IO-Link to Support Several Higher Level Fieldbus and Ethernet Communication Protocols
5.1.2 Restraints
5.1.2.1 Lack of Standardization
5.1.2.2 Limitation of IO-Link in High-Speed Or Motion Control Applications
5.1.3 Opportunities
5.1.3.1 Release of IO-Link Safety Specification in 2017
5.1.3.2 Availability of Cloud Interface in IO-Link
5.1.4 Challenges
5.1.4.1 Threats Related to Cybersecurity
5.1.4.2 Lack of Interoperability Between Information Technology (It) and Operational Technology (Ot)
6 Market, By Component
6.1 Introduction
6.2 IO-Link Masters
6.2.1 Device-Mounted IO-Link Masters to Witness Significant Growth Owing to Their Easier Deployment and A Shorter Distance From Devices
6.3 IO-Link Devices
6.3.1 IO-Link-An Easier Diagnostic Solution With Simple and Standardized Wiring Reduces Downtime and Makes Industrial Automation More Efficient
6.3.2 Sensor Nodes
6.3.3 Modules
6.3.4 Actuators
6.3.5 RFID Read Heads and Others
7 Market, By Industry
7.1 Introduction
7.2 Process Industries
7.2.1 Growing Need to Deliver Effective Products at Competitive Prices Encouraging Process Industries to Adopt IO-Link Technology
7.2.2 Oil & Gas
7.2.2.1 Increasing Demand for Automation in Oil & Gas Industry to Facilitate Adoption of IO-Link Technology
7.2.3 Chemicals
7.2.3.1 Growing Need for Remote Diagnostics of the Sensor Node and Actuators Facilitates IO-Link Adoption in the Chemical Industry
7.2.4 Energy & Power
7.2.4.1 Rising Adoption of Industry 4.0 in the Energy & Power Industry Acts as A Catalyst for IO-Link Market Growth
7.3 Discrete Industries
7.3.1 Rising Focus on Improving Product Quality and Reducing Operational Costs Propels IO-Link Market Growth in Discrete Industries
7.3.2 Automotive
7.3.2.1 Intense Competition in the Automotive Industry Surging the Demand for IO-Link to Streamline Production Processes
7.3.3 Aerospace & Defense
7.3.3.1 Essentiality of Cost Optimization Through Automation and Industry 4.0 to Surge the Demand for IO-Link Technology
7.3.4 Semiconductor & Electronics
7.3.4.1 Shift Toward Fieldbus to Ethernet Communication Protocol in the Semiconductor Industry to Propel the IO-Link Market Growth
7.3.5 Machine Manufacturing
7.3.5.1 Focusing on Adopting IO-Link to Analyze Machine Condition and Avoid Unplanned Downtime
7.3.6 Packaging
7.3.6.1 Advanced Packaging Technology to Boost IO-Link for Automation
7.4 Hybrid Industries
7.4.1 Pharmaceuticals
7.4.1.1 Adoption of IO-Link to Make Manufacturing Processes Safe, Consistent, and Efficient
7.4.2 Metals & Mining
7.4.2.1 Use of IO-Link for Improving Safety, Increasing Production, and Reducing Operating Costs in Metals & Mining Industry
7.4.3 Food & Beverages
7.4.3.1 Stringent Regulations Related to Food Quality and Safety Drive the Demand for IO-Link Technology
7.4.4 Cement and Glass
7.4.4.1 Emphasis of Manufacturers on Reducing Energy Consumption and Carbon Footprint Expected to Provide Lucrative Opportunities for IO-Link Technology Providers
8 Market, By Application
8.1 Introduction
8.2 Machine Tool
8.2.1 Use of IO-Link for Easy Detection of Vendors and Device Id as Well as Configuration of Machine Tools
8.3 Handling and Assembly Automation
8.3.1 Increased Need to Run Multiple Products in Assembly Automation Lead to IO-Link Adoption
8.4 Intralogistics
8.4.1 Utilization of IO-Link for Fast and Efficient Communication in Intralogistics
8.5 Packaging
8.5.1 High Demand for Automated Packaging Solutions Leads to Adoption of IO-Link Technology
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 Growing Penetration of Industry 4.0 Driving the Growth of the North American IO-Link Market
9.2.2 US
9.2.2.1 Large Base of Discrete Industries in the US Offer Lucrative Growth Opportunity for IO-Link Market
9.2.3 Canada
9.2.3.1 Growth in Manufacturing Sector in Canada to Drive Adoption
of IO-Link 82
9.2.4 Mexico
9.2.4.1 Continuous Developments in Metal & Mining Industry to Boost the Demand for IO-Link in Mexico
9.3 Europe
9.3.1 Germany Accounted for the Largest Share of the European IO-Link Market in 2017
9.3.2 Germany
9.3.2.1 Growing Adoption of Industrial Ethernet Technology By Automotive Industry in Germany is Expected to Boost the Demand for IO-Link During the Forecast Period.
9.3.3 UK
9.3.3.1 Increased Adoption of IO-Link By Manufacturers in the UK for Delivering Cost-Efficient Products
9.3.4 France
9.3.4.1 Strong Commitment of French Government for Adopting Advanced Manufacturing Processes Expected to Drive IO-Link
9.3.5 Italy
9.3.5.1 Use of IO-Link to Facilitate Communication in Connected Devices in Automotive Industry in Italy
9.3.6 Rest of Europe (RoE)
9.4 Asia Pacific (APAC)
9.4.1 Rise of Industry 4.0 in Japan and China Resulting in Growing Adoption of IO-Link in Asia Pacific
9.4.2 China
9.4.2.1 Growing Automation in Automotive and Semiconductor Industry in China to Drive IO-Link Market During the Forecast Period
9.4.3 Japan
9.4.3.1 High Degree of Industrial Automation in Japan Propelling IO-Link Market Growth
9.4.4 South Korea
9.4.4.1 Growing Automotive Sector in South Korea to Boost IO-Link Market Growth in Near Future
9.4.5 Rest of APAC
9.5 Rest of the World (RoW)
9.5.1 Middle East and Africa (MEA)
9.5.1.1 Growing Automation in Middle Eastern Oil & Gas Industry to Propel the Demand for IO-Link in Coming Years
9.5.2 South America
9.5.2.1 Brazil to Account for the Largest Share of South American IO-Link Market During 2018-2025
10 Competitive Landscape
10.1 Overview
10.2 Ranking Analysis
10.3 Competitive Situations and Trends
10.3.1 Product Launches and Developments
10.3.2 Partnerships and Collaborations
11 Company Profiles
- Aventics
- Balluff
- Banner Engineering
- Baumer
- Beckhoff Automation
- Belden
- Bernecker + Rainer
- Bosch Rexforth
- Comtrol
- Datalogic
- Festo
- Ifm Electronic
- Omron
- Pepperl+Fuchs
- Rockwell Automation
- SICK
- Siemens
- Turck
- Weidmuller
- Wenglor Sensoric
For more information about this report visit https://www.researchandmarkets.com/research/m7cjmn/iolink_market?w=12
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