Press release
2025-2034 IO-Link Market Roadmap: Insights for Competitive Advantage
IO-Link
How Large Will the IO-Link Market Size By 2025?
The market size for IO-link has experienced significant expansion in the past few years. It is anticipated to rise from a value of $13.13 billion in 2024 to a staggering $16.65 billion in 2025, boasting a compound annual growth rate (CAGR) of 26.8%. Factors like trends in industrial automation, the need for data integration, improved maintenance efficiency, the necessity of flexible manufacturing, and the cost-effectiveness of sensor integration contribute to the growth experienced in this historic period.
How Big Is the IO-Link Market Size Expected to Grow by 2029?
The IO-link market is predicted to undergo substantial growth in the imminent years, expanding to "$39.63 billion by 2029 at a compound annual growth rate (CAGR) of 24.2%. Several factors contribute to this projected growth during the forecast period, such as the execution of industry 40, surge in the requirement for condition monitoring, integration with IIoT platforms, heightened concentration on energy efficiency, and the escalating complexity of manufacturing processes. The forecast period will also see trends such as integration with programmable logic controllers (PLCs), flexible and scalable solutions, energy efficiency and cost savings, applications across sectors, and integration with cybersecurity.
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Which Key Market Drivers Powering IO-Link Market Expansion and Growth?
The upsurge in the adoption of the Internet of Things (IoT) is predicted to fuel the expansion of the IO-Link market in the future. IoT is a system of interrelated digital and mechanical devices, as well as individuals, animals, or items, that have unique identifiers (UIDs), enabling them to interact over a network without necessitating human or computer interaction. The IO-Link supplies real-time dialogue, remote adjustments, and appraisal of sensors and operators using the IoT. For example, as per the State of IoT-Spring 2022 report by IoT Analytics, a Germany-based firm providing IoT, AI, Cloud, Edge, and Industry 4.0 insights and strategic business intelligence, the global number of IoT connections grew by 8%, hitting 12.2 billion active endpoints. Moreover, it is projected that the IoT sector will expand by 18% to 14.4 billion active endpoints in 2022. Additionally, it is anticipated that there will be around 27 billion connected IoT devices by 2025 as supply constraints ease and demand accelerates. As a result, this increased infiltration of the Internet of Things (IoT) is contributing to the development of the IO-Link market.
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Which Fast-Growing Trends Are Poised to Disrupt the IO-Link Market?
The IO-Link market is advancing through next-generation technologies. In January 2022, Taiwan-based ASIX Electronics Corporation launched the AX58400 EtherCAT to IO-Link gateway solution. This system integrates EtherCAT fieldbus and IO-Link communication, supporting up to eight smart devices and enabling diagnostics and parameterization for efficient industrial operations.
What Are the Emerging Segments in the IO-Link Market?
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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the IO-Link Industry?
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.
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