Global IO-Link Market Overview:
The IO-Link market is expanding due to rising demand for Industry 4.0 and the ability to accommodate all fieldbus protocols. The rising government initiatives throughout the world to adopt industrial automation is the primary reason driving the IO link market growth rate during the forecast period. The IO link market is also prospering due to a growing focus on maximizing resources, enhancing energy efficiency, and lowering production costs.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Technology advancement
Market Growth Drivers:
Rising demand for Industry 4.0 and Growing demand for remote configuration, monitoring, and maintenance
Challenges:
Cyber risks associated with automation systems
Restraints:
Use of compact machines and Use of basic sensors
Opportunities:
Limitations of Ethernet and Increasing adoption of IO-Link in the automotive industry
Competitive Landscape:
Some of the key players profiled in the report are Siemens (Germany), Hans Turck GmbH & Co. KG (Germany), Balluff GmbH (Germany), ifm electronic GmbH (Germany), SICK AG (Germany), Rockwell Automation, Inc. (United States), Omron Corporation (Japan) and Pepperl+Fuchs (Germany). Additionally, following companies can also be profiled that are part of our coverage like Festo SE & Co. KG (Germany) and SMC Corporation (Japan). Analyst at AMA Research see Global Players to retain maximum share of Global IO-Link market by 2030. Considering Market by Industry, the sub-segment i.e. Discrete will boost the IO-Link market. Considering Market by Component, the sub-segment i.e. IO-Link Master (PROFINET, EtherNet/IP, Modbus-TCP, EtherCAT, Multiprotocol, Others) will boost the IO-Link market.
Latest Market Insights:
In March 2020, Siemens expanded its distributed I/O system with new modules for the SIMATIC ET 200MP/SIMATIC S7-1500 IOs as well as a backplane bus. A total of 4 new multi-channel digital modules, with 64 channels each and an installation width of 35 millimeters, enables users to achieve space-saving and cost-efficient implementation of a high number of channels in the control cabinet.
In March 2021, Balluff GmbH launched the sensors are self-monitoring, providing internal environmental data in real time, including temperature monitoring, relative humidity, inclination detection, and vibration monitoring. The sensor’s signal quality is displayed on LEDs on the sensor, and operating hours and time functions are available using IO-Link.
What Can be Explored with the IO-Link Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global IO-Link Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in IO-Link
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global IO-Link market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in IO-Link market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, IO-Link Provider, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.