Published Date : Feb 13, 2017
ALBANY, NY, Feb 13, 2017: The study titled, “Global Industrial Communication Market 2017–2021” is a thorough evaluation of the outcomes due to the prevalent trends that are likely to leave an imprint on the market. The facets taken into consideration are both regionally and globally applicable. The key segments have also been comprehensively described and scrutinized efficiently. The companies in question have been evaluated on the basis of product quality, innovation, sales, revenue, shares, and expansion prospects for the future.
The report projects that the global industrial communication market is expected to witness a strong 12.79% CAGR from 2017 to 2021. The need of the hour is to aid voice services and data applications for remote workers with high-end internet communications through strong PC terminals. The growth prospects of the global industrial communication market is likely to surge due to the need for high data rates and enhanced quality of service (QoS) for applications such as real-time wireless video surveillance, power generation, and water treatment. The growing employment of connected systems in industrial control systems (ICS) has lifted the profitability and productivity for organizations and companies.
The incorporation of industrial-based equipment are expected to optimize the processes, boost reliability, minimize downtime, and improve operational areas. Furthermore, the emergence of innovative and new Fieldbus solutions will help the industrial communication market to gain impetus in the coming years. With the rise in the adoption of Ethernet as a potential network option for end users for the purpose of connecting sensors, instruments, distributed I/O, human machine interfaces, and controllers to each other, machine OEMs, and robots, the deployment of industrial communication is also likely to take a huge leap forward and progress extensively.
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Based on protocol and reports, the global industrial communication market can be classified into wireless, industrial Ethernet, and Fieldbus. The segment that is expected to witness strong growth is wireless protocol owing to the growing demand from the manufacturing industry and need for energy utilities for the purpose of digital transformation and to conduct remote operations on assets with high-value. Using this protocol, mainly WLAAN, is expected to enhance profit and lift the business efficiency of the industry.
Based on geography, the Americas led the market in 2016 and are likely to maintain a lead over the forecast period. Due to its high use in the U.S. automotive industry, the Ethernet/IP is the most broadly deployed communication network in the region. The market will substantially grow in the region due to rising use of IT in smart grid stations and substations. Some of the leading companies in the market comprise Texas Instruments, Siemens, Schneider Electric, Rockwell Automation, ABB, Cisco Systems, General Electric, and Advantech.
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