Press release
IO Link Market 2019 Emerging Technology, Opportunities, Analysis and Future Threats with Key Players like Siemens AG, Balluff GmbH, ifm electronic gmbh, SICK AG, Rockwell Automation Inc., Festo AG & Co. KG.
Global IO Link Market
Global IO Link Market, By Component (IO-Link Masters, IO-Link Devices), By Application (Machine Tool, Handling and Assembly Automation, Packaging, Intralogistics), By Industry (Discrete, Hybrid, Process), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
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The Global IO Link Market is expected to rise from its initial estimated value of USD 2.46 billion in 2018 to an estimated value of USD 26.80 billion by 2026 registering a CAGR of 34.75% in the forecast period of 2019-2026. This trend in growth can be attributed to the focus on optimisation of energy that can be achieved with the ability of IO Link supporting several communication protocols at once.
Major Market Competitors/Players: Global IO Link Market
Few of the major competitors currently working in the IO Link Market are Siemens AG, Balluff GmbH, ifm electronic gmbh, SICK AG, Rockwell Automation Inc., Festo AG & Co. KG., OMRON Corporation, Banner Engineering Corporation, Hans Turck GmbH & Co. KG, Pepperl+Fuchs, Datalogic S.p.A., Comtrol, Beckhoff Automation GmbH & Co. KG, Baumer, Bosch Rexroth AG, ABB, Belden Inc., AVENTICS GmbH, and Weidmüller Interface GmbH & Co. KG.
Market Definition:
IO Link is an industrial communication networking device that is used for interlinking sensors to a high level fieldbus or ethernet communication protocol. It provides the data from these sensors that can be used for monitoring and hence, helps in optimizing the resources being utilized in the said industry.
Market Drivers:
• Focus on optimal utilization of resources and increase of energy efficiency is expected to drive the market growth
• IO Link’s ability in supporting several Fieldbus and Ethernet communication protocols
Market Restraints:
• IO Link’s usage and effectiveness is limited in the cases of high-speed or motion control applications is expected to restrain the market growth
• Lack of standardization of IO Links is another factor that is expected to restrain the market growth
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Competitive Analysis:
The Global IO Link Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of IO Link Market for global, Europe, North America, Asia Pacific and South America.
For a pervasive understanding of the market, business strategies and latest developments of the vital players accompanied with co-development deals and market size have also been enclosed. Briefly citing, their revenue share, contact information and meticulous SWOT analysis is available. The regions which have been studied in depth are North America, Europe, Asia Pacific, Middle East & Africa and Latin America. This helps gain better idea about the spread of this particular market in respective regions.
The report takes a close and analytical look at the various companies that strive for a higher share of the IO Link Market. Data on the leading and fastest-growing segments along with what drives them has been given.
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Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
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