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Why Industrial Communication Market is growing rapidly? ACS Motion Control, ABB, Advanced Motion Control, ADVANTECH, Beckhoff Automation, Belden Inc., Bosch Rexroth, Cisco, Eaton, GE

Why Industrial Communication Market is growing rapidly? ACS

Industrial communication market is being driven by robotization trends in industries in the emerging economies of the APAC region. Moreover, the increasing adoption of the Industry 4.0 revolution further augments the prospects for the market. Asia Pacific market size is forecast to grow at a CAGR of more than 12% over 2019-2025.

Besides APAC region, robot sales in the U.S. has also significantly helped to expand industrial communication market. Robot sales in the United States has been recorded to hit a new peak of almost 38,000 units, setting a record for the eighth year in a row from 2010 to 2018. Robot density in the U.S. manufacturing industry reached 200 robots per 10,000 employees by 2018. Increasing rate of robotization and robot density will drive the industrial communication market substantially.

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The global industrial communication market has thrived successfully in the recent decade as growing adoption of these components in Industry 4.0 has effectively helped increased productivity in major industries. Labor reduction, waste reduction, repeatability, enhanced quality control, and integration with existing business systems have given companies an added advantage by lowering long-term costs, which could indirectly increase product output and revenue.

An industrial communication network is the backbone for any automation system architecture as it can offer powerful means of data exchange, controllability and flexibility to connect to various devices. The use of digital communication networks in industries can also lead to improved end-to-end digital signal accuracy and integrity.

Communication networks like LAN (Local Area Network) or WAN (Wide Area Network) can communicate large amounts of data via limited number of channels. Whereas industrial networking enable implementing various communication protocols between field devices, digital controllers and several automation related software tools and external systems. Therefore modern industries have demonstrated increased adoption of industrial communication networks over traditional LAN and WAN. This has led to industrial communication market size depicting a substantial increase lately.

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For instance, according to renowned automation conglomerate ABB, and one of the notable players in industrial communication market, the firm's revenue increased by 5% to $7,395 million in 2018. This has been credited to the strong growth in robotics & motion, robust performance achieved from electrification products and a steady result owing to industrial automation.

Some other participants in the market include ACS Motion Control, Advanced Motion Control, ADVANTECH, Beckhoff Automation, Belden etc. Industrial communication market size is predicted to exceed $160 billion by 2025 owing to the multiplying demand of robotization, automation and IIoT.

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