Industrial Communication Market

• Increased security and safety is driving the market growth

In relation to the expanding use of cutting-edge technologies and the rising demand for effective and dependable communication networks in industrial settings, the market for industrial communication is expanding significantly. In different industries, including manufacturing, oil and gas, automotive, energy, and others, data and information are exchanged between machines, sensors, devices, and systems. This is referred to as industrial communication. The fast adoption of Industry 4.0 and the Industrial Internet of Things (IIoT) technologies is one of the main factors driving the industrial communication market.

To enable the integration and coordination of machines and systems, these disruptive technologies depend on continuous connectivity and communication. Data transfer is made possible via industrial communication networks, which also enable real-time process optimisation, control, and monitoring. The demand for industrial communication systems is fueled by the improvement in efficiency, productivity, and predictive maintenance that results from the ability to collect and analyse real-time data.

Communication networks must be able to handle rising data traffic, support a variety of devices and protocols, and adapt to changing requirements as businesses expand and new technologies are developed. Industrial communication protocols with scalability and flexibility, such Ethernet/IP, PROFINET, and Modbus TCP/IP, provide for seamless communication and interoperability across numerous devices and systems. Businesses can grow without being concerned about communication bottlenecks or restrictions thanks to this scalability.

In industrial settings, improved safety and security are top priorities. Systems for industrial communication are essential for protecting assets and guaranteeing worker safety. Communication networks now support real-time monitoring, control, and reaction to possible risks thanks to the integration of safety protocols and technologies like Safety over Ethernet (SoE) and Safety Instrumented Systems (SIS). As a result, accidents are avoided, downtime is reduced, and safety rules are followed. The market for industrial communication is expanding as a result of the integration of wireless technology. In industrial environments, wireless communication enables more freedom, adaptability, and remote access.

By enabling real-time data interchange, it does away with the requirement for physical connections between field devices and control systems. In places where installing wired infrastructure is impractical or expensive, wireless technologies like Wi-Fi, Bluetooth, and cellular networks are becoming widely used, thereby extending the reach and connection of industrial communication networks. Thus, driving the Industrial Communication market revenue.

The increasing demand for automation across various industries is a primary driver of the Global Industrial Communication Market Industry. As organizations strive to enhance efficiency and reduce operational costs, the integration of automated systems becomes essential. This trend is particularly evident in manufacturing, where automated machinery requires robust communication networks to function effectively. The Global Industrial Communication Market Industry is projected to reach 25.5 USD Billion in 2024, reflecting the urgency for advanced communication solutions that support automation. This demand is likely to escalate as industries continue to adopt smart technologies, further propelling market growth.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific Intrinsically Safe Equipment Market dominated this market in 2022 (45.80%). Automation and smart manufacturing technologies are increasingly being adopted throughout the region's diverse industries. Further, the China’s Intrinsically Safe Equipment market held the largest market share, and the Indian Intrinsically Safe Equipment market was the fastest growing market in the Asia-Pacific region.

Figure 2: INDUSTRIAL COMMUNICATION MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

North America Intrinsically Safe Equipment market accounts for the second-largest market share. The adoption of cutting-edge technologies, such as industrial Ethernet, wireless communication, and fieldbus systems, has an impact on the market share of the region. Further, the U.S. Intrinsically Safe Equipment market held the largest market share, and the Canada Armor Materials market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

The Europe Intrinsically Safe Equipment Market is expected to grow at the fastest CAGR from 2023 to 2032. . In the fields of industrial automation and control systems, European businesses are renowned for their technological innovations and achievements. Moreover, the German Intrinsically Safe Equipment market held the largest market share, and the UK Intrinsically Safe Equipment market was the fastest growing market in the European region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Industrial Communication market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Industrial Communication industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Industrial Communication industry to benefit clients and increase the market sector. In recent years, the Industrial Communication industry has offered some of the most significant advantages to medicine. Major players in the Industrial Communication market, including ABB Ltd., Advantech Co. Ltd., Cisco Systems Inc., Emerson Electric Co., General Electric Co., National Instruments Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Texas Instruments Inc. and others, are attempting to increase market demand by investing in research and development operations.

ABB Ltd. is a multinational company operating in various sectors, including the industrial communication market. ABB is a world-renowned supplier of industrial automation and digitalization solutions with its headquarters in Switzerland. In order to provide seamless connectivity and data exchange inside industrial networks, the company provides a wide array of equipment and services for industrial communication. Industrial IoT platforms, wireless communication, fieldbus protocols, Ethernet-based systems, and other technologies are all included in ABB's industrial communication solutions.

Switches, routers, gateways, controllers, and software tools are among the cutting-edge items in the company's portfolio that are intended to improve the performance and dependability of industrial communication networks. Customers looking for reliable and effective communication solutions may depend on ABB because of its expertise in industrial automation and control systems. Several industries, including manufacturing, power production, oil and gas, transportation, and infrastructure, use the company's products.

Cisco Systems Inc. is a multinational technology company headquartered in the United States and is a major player in the industrial communication market. Cisco is well known for its networking and communication solutions, and it provides a wide selection of goods and services geared towards business uses. Cisco offers reliable and scalable networking infrastructure for the industrial communication market, including switches, routers, gateways, and wireless access points. The company's products are made to provide dependable and secure data transmission within industrial networks, facilitating smooth connectivity and communication between equipment and systems.

Advanced technologies including Industrial Ethernet, Time-Sensitive Networking (TSN), and Software-Defined Networking (SDN) are also included in Cisco's industrial communication products. These innovations serve vital industrial applications, enhance real-time communication, and optimise network performance.