PUNE, India, October 14, 2016 /PRNewswire/ --
According to the new market research report "Industrial Communication Market by Offering (Component, Software, and Services), Communication Protocol (Fieldbus, Industrial Ethernet, and Wireless), End-Use Application, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to be worth USD 130.33 Billion by 2022, growing at a CAGR of 12.36% between 2016 and 2022.
Browse 69 market data Tables and 61 Figures spread through 178 Pages and in-depth TOC on "Industrial Communication Market"
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The industrial communication market has a huge potential across electronics and automotive applications. The major factor driving the industrial communication market globally is the rising demand for industrial automation and the growing adoption of Industrial Revolution 4.0.
The market for the water and wastewater segment is expected to grow at the highest rate between 2016 and 2022
The market for the water and wastewater end user industry is expected to grow at the highest CAGR between 2016 and 2022. Water level monitoring sensors, AC drives, and controllers are crucial components of a water treatment system and the industrial communication network is used to integrate and enable communicate between these devices. All these factors are expected to drive the industrial communication market for the water and wastewater industry during the forecast period.
The market for the wireless communication protocol would grow at the highest CAGR between 2016 and 2022
The market for the wireless communication protocol is expected to grow at the highest rate. The speed and simplicity of the installation of wireless networks are making them popular as they can be deployed to facilitate industrial communication even under extreme environments. The market for ZigBee is expected to grow at a high rate among all the wireless industrial communication protocols. Among the major reasons driving the market for ZigBee are that it supports IoT applications and thousands of nodes networks, and has security mechanisms such as AES-128 for encryption of devices.
Currently, APAC leads the industrial communication market in terms of market size
APAC held the largest share of the Industrial Communication Market in 2015. One of the main reasons for the large share of APAC in this market is the growing industrialization in the region. China is the major market for industrial communication in the APAC region. It is the world's largest manufacturer of automobiles, which is one of the prospective applications of industrial communication.
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The companies that are profiled in the report are Schneider Electric SE (France), Texas Instruments Incorporated (U.S.), TE Connectivity Ltd (Switzerland), Siemens AG (Germany), ABB LTD (Switzerland), Rockwell Automation, Inc. (U.S.), Emerson Electric Company (U.S.), National Instruments (U.S.), Infineon Technologies AG (Germany), General Electric (U.S.), and Advantech Industrial Automation Group (U.S.).
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