DUBLIN, July 11, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Intelligent Modules Market 2017-2021" report to their offering.
The global intelligent I/O modules market to grow at a CAGR of 6.19% during the period 2017-2021.
Global Intelligent I/O Modules Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
These I/O modules are basically used in function-specific applications like speed control, humidity control, temperature control, and others. Process industries are expected to contribute more to the global I/O modules market with a share of nearly 80% by revenue. The major industries contributing to the global I/O modules market are power, water and wastewater, oil and gas, food and beverages, automotive, and pharmaceutical.
According to the report, one of the major drivers for this market is Reduction in prices of raw materials. The major raw materials used in the manufacturing of intelligent I/O modules are copper windings, electrical steel, and insulation materials. All these materials constitute nearly 50% of the total manufacturing cost. Out of these, copper windings and electrical steel constitute 40% of the total intelligent I/O module cost. The decline in raw material costs results in lowering the manufacturing cost, thereby increasing the adoption of intelligent I/O modules in the end-user industries. The graph below shows the declining trend of raw material costs.
The latest trend gaining momentum in the market is Wireless intelligent I/O modules with cloud connectivity. Wireless intelligent I/O modules are basically used for operation and control of field instruments. To ensure the ease of interoperability between field devices, the wireless intelligent I/O modules are equipped with high-speed data transfer standards of the Institute of Electrical and Electronics Engineers (IEEE) 802.11. A broad range of wireless intelligent I/O modules are used in discrete industries that follow developments of Industry 4.0. The specialty of wireless intelligent I/O modules is that these modules can be used without the need for the gateway and have their own microprocessors independent of the PLC's microprocessor."
Further, the report states that one of the major factors hindering the growth of this market is Security concerns due to vulnerable I/O connections. The integration of industrial control systems, such as programmable logic controller (PLC), distributed control system (DCS), and supervisory control and data acquisition (SCADA), with business systems, such as enterprise resource planning (ERP) and customer relationship management (CRM), makes the system sensitive to cyber-attacks. Transmission control protocol/Internet protocol (TCP/IP) networking is the common protocol used to connect control systems and business systems. These systems are vulnerable to cyber-attacks due to vulnerable remote I/O connections, standardization of technologies, and easy availability of technical information over the Internet.
- Advantech Corporation
- Rockwell Automation
Other prominent vendors
- Beckhoff Automation
- Mitsubishi Electric
- Turck Automation
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by controller type
Part 07: Market segmentation by end-user
Part 08: Geographical segmentation
Part 09: Decision framework
Part 10: Drivers and challenges
Part 11: Market trends
Part 12: Vendor landscape
Part 13: Key vendor analysis
Part 14: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/z5s8sh/global
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets