IO-Link Market Is Thriving Worldwide | Top Companies, Latest Innovation, Advance Technology

The Global report titled “IO-Link Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.

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Top Companies profiled in the IO-Link Market:
• Alcatel-Lucent (Finland)
• TE connectivity (Switzerland)
• NEC (Japan)
• Huawei Marine (China)
• Saudi Ericsson (Saudi Arabia)
• Prysmian (Italy)
• Nexans (France)
• Jiangsu Zhongtian Technology Co., Ltd. (ZTT) (China)
• Jiangsu Hengtong Optic-Electric Stock Co., Ltd. (Hengtong) (China)
• Norddeutsche Seekabelwerke GmbH Electronic (NSW) (Germany)
• NKT (Germany)
• Sumitomo Electric (Japan)

The IO-Link Market is expected to reach US$ 12.20 Billion by 2023 from US$ 2.87 Billion in 2018, at a CAGR of 33.56%. This report spread across 142 pages, profiling 10 companies and supported with 78 tables and 41 figures is now available in this research.

“IO-Link devices expected to hold significant share of IO-Link market during the forecast period.”
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 down times are reduced through simple configuration, industrial automation can be designed more efficiently.

“IO-Link market in APAC is expected to grow at highest CAGR during forecast period.”
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.

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Breakdown of primary participants’ profile:
• By Company Type: Tier 1 =27%, Tier 2 =41%, and Tier 3 =32%
• By Designation: C-Level Executives =26%, Directors =40%, and Others =34%
• By Region: North America = 47%, Europe = 28%, APAC =19%, and RoW =6%

Study Objectives:
• To identify the key players operating in the market and comprehensively analyze their market ranking in terms of revenue and core competencies

• To describe and forecast the IO-Link, in terms of value and volume, by component, application, industry type, and geography

• To describe and forecast the market, in terms of value and volume, for various segments with respect to 4 main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)

• To describe major factors, namely, drivers, restraints, opportunities, and challenges pertaining to the IO-Link market

• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the total market

• To analyze growth strategies such as product launches and developments, partnerships, collaborations, and expansions adopted by the major players in the market

Target Audience for IO-Link Market:
• Analysts and strategic business planners
• Industrial automation device manufacturers
• Packaging solution providers
• Research organizations
• Original equipment manufacturers (OEMs)
• Technology standards organizations, forums, alliances, and associations
• Government bodies, venture capitalists, and private equity firms
• Industry players who want to know more about IO-Link technology and the latest trends in the market

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This release was published on openPR.