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Siemens and Rockwell Automation are the Key Player in the IO-Link Market - Report by MarketsandMarketsâ„¢
MarketsandMarkets
IO-Link market for packaging applications to grow at highest rate during forecast period
The increased focus by many manufacturing industries to ensure greater operating safety and efficiency, as well as reduce errors and improve working conditions, has aided the adoption of the packaging automation solutions in industries. The packaging application is expected to exhibit the highest growth in the IO-Link market owing to the flexibility that IO-Link provides to fulfil the requirements for optimizing the packaging process.
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IO-Link market for discrete industries to register largest shipment in 2018
The IO-Link technology has gained popularity in discrete industries mainly due to the recent surge in the adoption of Ethernet communication protocol in automotive, medical devices, and semiconductor and electronics industries. Due to the high cost and design complexity, the Ethernet communication protocol is not suitable for field-level communication applications wherein many sensors and actuators are used. This limitation of Ethernet has provided new growth opportunity to IO-Link to be adopted as a field-level communication protocol in recent years. Moreover, the Ethernet protocol is expected to account for a major market share for discrete industries during the forecast period. This, in turn, is expected to boost the IO-Link market growth in discrete industries in the coming years.
APAC to hold largest size of IO-Link market by 2023
Growing manufacturing sector in APAC countries such as China, Japan, and South Korea is expected to contribute to the growth of the IO-Link market in this region during the forecast period. China is a global manufacturing hub for semiconductor and automotive manufacturers. Rapidly growing automotive industry in China is likely to create growth opportunities for the IO-Link market players in this country. With the growing automotive and manufacturing industries, China witnessed a significant increase in the adoption of IO-Link in the last couple of years.
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Major players in the IO-Link market covered in this report are 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).
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