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Industrial Communication Market Size to Reach USD 141120 Million by 2027 at CAGR 8.4% - Valuates Reports

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Valuates Reports

24 Nov, 2021, 13:00 GMT

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BANGALORE, India, Nov. 24, 2021 /PRNewswire/ -- The Industrial Communication Market is Segmented by Type (Fieldbus, Industrial Ethernet, Wireless), End User (Automotive & Transportation, Electrical and Electronics, Aerospace & Defense, Oil & Gas, Food & Beverages, Pharmaceutical, Energy and Power Generation, Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Internet & Telecom Category.

The global Industrial Communication market size is projected to reach USD 141120 Million by 2027, from USD 77730 Million in 2020, at a CAGR of 8.4% during the forecast period 2021-2027

Major Factors Driving The Growth Of The Industrial Communication Market Are:

The growing demand for scalable, quicker, more reliable, and interoperable communication protocols is one of the key driving factors for the Industrial Communication Market. 

During the forecast period, the usage of digital twins to safely monitor smart manufacturing operations is likely to fuel the industrial communication market growth. Another important aspect projected to drive market expansion is the continued rise in machine-to-machine connectivity.

The increased adoption of Industry 4.0 is driving the industrial communication market. Digital disruption is wreaking havoc on various industry sectors. 

Inquire for Sample: https://reports.valuates.com/request/sample/QYRE-Othe-2L479/Industrial_Communication_Market

Trends Influencing The Growth Of Industrial Communication Market 

The industrial communication market is being driven by the increased usage of advanced communication protocols among companies. As industries become more digitally connected, the necessity for effective communication technologies grows. Previous communication protocols were serial-based and therefore couldn't handle the growth of digital data and latency-sensitive applications. Organizations are moving toward more complex and flexible industrial ethernet protocols to overcome these issues. 

Growing industrial 4.0 adoption is expected to drive the growth of the communication market. There is a growing demand for communication protocols that are scalable, quicker, more reliable, and interoperable. Industrial Ethernet is critical for complete transparency within an industrial plant and between the plant and business networks. The core of the Industry 4.0 idea is a reliable communication network. Real-time operating requirements are critical to both industrial automation and industrial communication networks. As a result, they must be able to deal with data in a deterministic and redundant manner. The networks must be scalable over a large range of equipment that operates on a number of standards and interfaces.

Increasing machine-to-machine communication is expected to further fuel the industrial communication market growth. The rising popularity of new machine-to-machine (M2M) technologies is due to improved connection for smooth communication and low power needs. To ensure effective M2M communication, mobile networks' current capacity must be able to handle the billions of nodes predicted to be deployed in the next few years.

Browse the Table of Contents and List of figures at: https://reports.valuates.com/reports/QYRE-Othe-2L479/industrial-communication

Industrial Communication Market Share Analysis

Based on type, Industrial Ethernet is expected to be the most lucrative. Industrial Ethernet's popularity and reach are growing because of advantages including better speed, longer connection distances, and the capacity to connect more nodes, which make it ideal for use in process industries.

North America is one of the most lucrative markets for the industrial communication market. The market is being driven by supporting government initiatives and regulations in the region to promote automation and digitalization among sectors. By investing in cutting-edge manufacturing technologies and building a full-fledged network dedicated to scaling up advanced manufacturing technologies and processes, the government is focusing on promoting the adoption of Industry 4.0 manufacturing technologies in the region.

Report Customization Request: https://reports.valuates.com/request/customisation/QYRE-Othe-2L479/Industrial_Communication_Market

Leading Players in the Industrial Communication Market

  • ABB
  • Rockwell Automation
  • Schneider Electric
  • Siemens
  • Advantech
  • Beckhoff Automation
  • Cisco Systems
  • Emerson Electric
  • Endress+Hauser
  • General Electric
  • Infineon Technologies
  • National Instruments
  • TE Connectivity
  • Texas Instrument

Chapter Cost Request: https://reports.valuates.com/request/chaptercost/QYRE-Othe-2L479/Industrial_Communication_Market

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SIMILAR REPORTS 

  • The global IoT Communication Module market size is projected to reach USD 8771.8 Million by 2027, from USD 3790.5 Million in 2020, at a CAGR of 12.7% during 2021-2027.
  • The global Industrial Ethernet market size is projected to reach USD 3192.7 Million by 2027, from USD 2123.4 Million in 2020, at a CAGR of 6.0% during 2021-2027.
  • The global Industrial Services market size is projected to reach USD 32300 Million by 2027, from USD 23860 Million in 2020, at a CAGR of 4.4% during 2021-2027.
  • The global Industrial Automation market size is projected to reach USD 212410 Million by 2027, from USD 130710 Million in 2020, at a CAGR of 6.7% during 2021-2027
  • In 2020, the global Industrial Ethernet Connectors market size was USD 633.5 Million and it is expected to reach USD 1078.6 Million by the end of 2027, with a CAGR of 7.9% during 2021-2027.
  • The global Industrial Controls and Factory Automation market size is projected to reach USD 208150 Million by 2027, from USD 128090 Million in 2020, at a CAGR of 7.2% during 2021-2027.
  • The global Industrial Control Systems Security market size is projected to reach USD 15120 Million by 2027, from USD 10560 Million in 2020, at a CAGR of 5.2% during 2021-2027.
  • The global Industrial Wireless Sensor Network (IWSN) market size is projected to reach USD 3087.3 Million by 2027, from USD 1915.8 Million in 2020, at a CAGR of 7.0% during 2021-2027.
  • In 2020, the global Optocoupler for High Speed Communication market size was USD 423.2 Million and it is expected to reach USD 598.5 Million by the end of 2027, with a CAGR of 5.1% during 2021-2027.
  • Global Device-to-Device Communication System Market Research Report 2021
  • Global Industrial Wireless Automation Market Size, Status and Forecast 2021-2027
  • Global Optical Wireless Communication Market Size, Status and Forecast 2021-2027
  • Global 6G Communication Market Size, Status and Forecast 2021-2027

To see the full list of related reports on the Industrial Communication

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs. 

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains detail research methodology employed to generate the report, Please also reach to our sales team to get the complete list of our data sources

CONTACT US:
Valuates Reports
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