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Surge In IOT Adoption Drives Growth Of The IO-Link Market: A Key Factor Shaping the Future of the IO-Link Market in 2025
IO-Link Market Size
The surge in Internet of Things (IoT) adoption is set to fuel the expansion of the IO-Link market. The concept of IoT involves a network connecting digital and mechanical devices, as well as individuals, animals or objects, all identified by unique identifiers (UIDs) and capable of communicating over a network, eliminating the need for human-to-human or human-to-computer interaction. IO-Link offers real-time data exchange, remote setup and diagnostics of sensors and actuators through IoT. For example, in May 2022, a report by IoT Analytics, a German firm offering insights and strategic business intelligence for IoT, AI, Cloud, Edge and Industry 4.0, revealed that global IoT connections grew by 8%, reaching 12.2 billion active endpoints. Further expansion at the rate of 18% is expected, leading to an estimated 14.4 billion active channels in 2022. Moreover, approximately 27 billion IoT devices are likely to be connected by 2025 as supply constraints ease and demand accelerates. Hence, the rising adoption of IoT is a significant factor propelling the growth of the IO-Link market.
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What growth opportunities are expected to drive the io-link market's CAGR through 2034?
The size of the IO-link market has seen significant expansion over recent years. It is projected to increase from $13.13 billion in 2024 to $16.65 billion in 2025, with a compound annual growth rate (CAGR) of 26.8%. This past period of growth can be attributed to trends in industrial automation, increased demand for data integration, improved efficiency in maintenance, the need for flexible manufacturing, and affordable sensor integration.
We can anticipate a surge in the value of the IO-link market in the coming years, with projections estimating its worth to reach $39.63 billion by 2029, marking a compound annual growth rate (CAGR) of 24.2%. The significant growth expected over this period can be linked to several factors such as the implementation of industry 4.0, increased demand for condition monitoring, integration with IIoT platforms, heightened attention to energy efficiency, and escalating complexities in manufacturing procedures. Key trends predicted within this timeframe encompass incorporation with programmable logic controllers (PLCs), the adoption of adaptable and scalable solutions, a focus on energy efficiency and cost-cutting, applications across various industries, and the inclusion of cybersecurity measures.
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What are the emerging trends shaping the future of the io-link market?
In the IO-Link marketplace, a key trend that is rapidly gaining traction is the embrace of cutting-edge technologies. Major players in the market are putting all their focus into the production of next-gen technologies such as internet of things (IoT), industrial robotics and cloud technologies, aiming to preserve their standing in the market. As an example, in January 2022, ASIX Electronics Corporation, an IC design firm from Taiwan that focuses on network connectivity, Ethernet, and USB solutions, introduced their AX58400 EtherCAT to IO-Link gateway solution. This gateway merges EtherCAT industrial Ethernet fieldbus technology with IO-Link intelligent communication technology, accepting up to 8 IO-Link devices like smart sensors and actuators. It also facilitates the parameterization and diagnostics of IO-Link devices via EtherCAT, enabling simpler configuration and surveillance of IO-Link devices.
Which growth-oriented segments of the io-link market are leading the industry's development?
The IO-link market covered in this report is segmented -
1) By Component: IO-link Master, IO-link Devices, Sensor Nodes, Modules, Actuators, RFID Read Heads, Other Components
2) By Application: Machine Tool, Handling And Assembly Automation, Packaging, Intralogistics
3) By Industry Vertical: Oil And Gas, Energy And Power, Automotive, Aerospace And Defense, Pharmaceuticals, Food And Beverages, Chemicals, Other Industry Verticals
Subsegments:
1) By IO-Link Master: Single Port IO-Link Master, Multi-Port IO-Link Master
2) By IO-Link Devices: IO-Link Sensors, IO-Link I Or O Devices, IO-Link Actuators
3) By Sensor Nodes: Proximity Sensors, Temperature Sensors, Pressure Sensors
4) By Modules: Communication Modules, Gateway Modules, Power Modules
5) By Actuators: Pneumatic Actuators, Electric Actuators, Hydraulic Actuators
6) By RFID Read Heads: Fixed RFID Read Heads, Handheld RFID Read Heads
8) By Other Components: Cables And Connectors, Software Tools, Interface Devices
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What regions are leading the charge in the io-link market?
Europe was the largest region in the IO-Link market in 2024. The regions covered in the IO-Link market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the io-link market?
Major companies operating in the IO-link market include Siemens AG, Balluff GmbH, ifm electronic GmbH, SICK AG, Rockwell Automation Inc., Omron Corporation, PepperlFuchs GmbH, Banner Engineering Corp., Emerson Electric Co, Datalogic S.p.A., Beckhoff Automation GmbH And Co KG, Baumer Holding AG, Bosch Rexroth AG, Weidmüller Interface GmbH And Co KG, Comtrol Corporation, Phoenix Contact GmbH & Co KG, WAGO Kontakttechnik GmbH & Co KG, Turck duotec GmbH, Wenglor Sensoric GmbH, NXP Semiconductors N.V., Murrelektronik GmbH, Festo AG & Co KG, SMC Corporation, Leuze electronic GmbH Co KG, ABB Ltd, Advantech Co Ltd., BihlWiedemann GmbH, Carlo Gavazzi S.p.A., Elobau Sensor Technology GmbH, Euchner GmbH Co KG
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What Is Covered In The IO-Link Global Market Report?
• Market Size Forecast: Examine the io-link market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the io-link market for a structured understanding.
• Key Players Overview: Analyze major players in the io-link market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the io-link market.
• Segment Contributions: Evaluate how different segments drive overall growth in the io-link market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the io-link market.
• Industry Challenges: Identify potential risks and obstacles affecting the io-link market.
• Competitive Landscape: Review strategic developments in the io-link market, including expansions, agreements, and new product launches.
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