Global Industrial Communication Market Size Estimated to Cross USD 346.02 Billion By 2030, Growing at a CAGR of 14.08% | Infinium Global Research

Infinium Global Research, a prominent name in the world of market research, is delighted to announce the publication of a comprehensive report that delves into the thriving Global Industrial Communication Market. This report offers an in-depth analysis of market segments and sub-segments at the global and regional levels. It also explores the profound impact of drivers, restraints, and macro indicators on the global and regional industrial communication market, both in the short term and long term. The report provides valuable insights into the market's trends, forecasts, and financial data. The global industrial communication market was valued at USD 124.04 Billion in 2022 and is expected to reach USD 346.02 Billion by 2030 and grow at a CAGR of 14.08% over the forecast period.

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Global Industrial Communication Market on a Steady Growth Trajectory

The global industrial communication market is set to exhibit significant growth with a projected Compound Annual Growth Rate (CAGR) of 11.45% between 2020 and 2026 in terms of value. The market's growth is being fueled by the rising adoption of the Internet of Things (IoT) and the growing need for interconnectivity among diverse devices and data sharing. The imperative to enhance safety and productivity is also a pivotal factor driving market growth. The increasing adoption of IoT is poised to revolutionize the manufacturing, development, transportation, and distribution of various products. Moreover, the proliferation of end-user industries such as aerospace, transportation, defense, paper, cement, energy and power, electrical and electronics, pharmaceuticals, oil and gas, food and beverages, mining, glass, fabrication or engineering, water and wastewater, and chemicals and fertilizers is set to augment the market for industrial communication. However, issues related to data safety and security in wireless communication technology and industrial Ethernet protocols, as well as the presence of traditional communication technology and challenging industrial environments, present constraints to market growth.

Regional Dynamics in the Global Industrial Communication Market

Geographically, the industrial communication market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is anticipated to hold the largest share in terms of revenue in this market. This can be attributed to technological advancements, the prevalence of the Internet of Things, supportive government initiatives, and policies in the region. Europe, on the other hand, currently holds a substantial share and is expected to experience steady growth in the market. This is due to the high adoption rate of advanced technologies by various industry verticals, growing government support, and initiatives aimed at eliminating barriers and fostering the adoption of new digitalization. The Asia Pacific region is the fastest-growing market, driven by rapid industrialization in countries like India, China, Japan, and Indonesia. Furthermore, the increasing adoption of advanced technology, automation, favorable government initiatives, and large-scale development with the use of advanced technologies for manufacturing are all contributing to the region's market growth.

Exploring Market Segments in the Industrial Communication Market

The comprehensive report on the global industrial communication market covers various segments, including:

Component: Sub-markets include hardware, software, and services.
Communication Protocol: Sub-markets encompass industrial Ethernet, fieldbus, and wireless.
Application: Sub-markets include automotive and transportation, aerospace & defense, food & beverages, electrical & electronics, industrial manufacturing, and others.
Leading Players in the Global Industrial Communication Market

Key companies in the industrial communication market include Cisco Systems, Inc., Siemens AG, OMRON Corporation, Rockwell Automation Inc., Mitsubishi Electric Corporation, ABB Ltd, Schneider Electric SE, General Electric Company, Texas Instruments Inc., and Honeywell International Inc.

Innovating and Transforming Industries

Industrial communication is at the heart of the digital transformation that is reshaping the industrial landscape. By fostering interconnectivity among various devices and enabling seamless data sharing, industrial communication is revolutionizing industries and driving them toward greater efficiency and productivity. The adoption of the Internet of Things is a pivotal driver, set to transform the way products are manufactured, developed, transported, and distributed.

However, while the potential for industrial communication is vast, challenges persist. Data safety and security issues, especially in wireless communication, as well as the presence of traditional communication technologies and challenging industrial environments, pose obstacles to market growth. As the industrial communication market continues to evolve, it will be essential to address these challenges to unlock its full potential.

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Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. Industrial Communication Market Highlights

2.2. Industrial Communication Market Projection

2.3. Industrial Communication Market Regional Highlights

Chapter 3. Global Industrial Communication Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Analysis of COVID-19 impact on the Industrial Communication Market

3.4. Porter's Five Forces Analysis

3.5. IGR-Growth Matrix Analysis

3.5.1. IGR-Growth Matrix Analysis by Component

3.5.2. IGR-Growth Matrix Analysis by Communication Protocol

3.5.3. IGR-Growth Matrix Analysis by Application

3.5.4. IGR-Growth Matrix Analysis by Region

3.6. Value Chain Analysis of Industrial Communication Market

Chapter 4. Industrial Communication Market Macro Indicator Analysis

Chapter 5. Global Industrial Communication Market by Component

5.1. Hardware

5.2. Software

5.3. Services

Chapter 6. Global Industrial Communication Market by Communication Protocol

6.1. Industrial Ethernet

6.2. Fieldbus

6.3. Wireless

Chapter 7. Global Industrial Communication Market by Application

7.1. Automotive and Transportation

7.2. Aerospace & Defense

7.3. Food & Beverages

7.4. Electrical & Electronics

7.5. Industrial Manufacturing

7.6. Others

Chapter 8. Global Industrial Communication Market by Region 2023-2030

8.1. North America

8.1.1. North America Industrial Communication Market by Component

8.1.2. North America Industrial Communication Market by Communication Protocol

8.1.3. North America Industrial Communication Market by Application

8.1.4. North America Industrial Communication Market by Country

8.2. Europe

8.2.1. Europe Industrial Communication Market by Component

8.2.2. Europe Industrial Communication Market by Communication Protocol

8.2.3. Europe Industrial Communication Market by Application

8.2.4. Europe Industrial Communication Market by Country

8.3. Asia-Pacific

8.3.1. Asia-Pacific Industrial Communication Market by Component

8.3.2. Asia-Pacific Industrial Communication Market by Communication Protocol

8.3.3. Asia-Pacific Industrial Communication Market by Application

8.3.4. Asia-Pacific Industrial Communication Market by Country

8.4. RoW

8.4.1. RoW Industrial Communication Market by Component

8.4.2. RoW Industrial Communication Market by Communication Protocol

8.4.3. RoW Industrial Communication Market by Application

8.4.4. RoW Industrial Communication Market by Sub-region

Chapter 9. Company Profiles and Competitive Landscape

9.1. Competitive Landscape in the Global Industrial Communication Market

9.2. Companies Profiles

9.2.1. Cisco Systems, Inc.

9.2.2. Siemens AG

9.2.3. OMRON Corporation

9.2.4. Rockwell Automation Inc.

9.2.5. Mitsubishi Electric Corporation

9.2.6. ABB Ltd

9.2.7. Schneider Electric SE

9.2.8. General Electric Company

9.2.9. Texas Instruments Inc.

9.2.10. Honeywell International Inc.

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of industrial communication.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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