The global I/O modules market for discrete industries to grow at a CAGR of 4.68% during the period 2016-2020.
Global I/O Modules Market for Discrete Industries 2016-2020, 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.
The report covers the present scenario and the growth prospects of the global I/O modules market for discrete industries. To calculate the market size, the report considers the revenue generated from sales and aftermarket services of I/O modules in automotive, electronics and semiconductor manufacturing, industrial machinery manufacturing, and aerospace and defense industries.
that increased adoption of Ethernet-based I/O control network interface is one of the trends spurring growth for the market. Ethernet has become a major network protocol for data transfer in industries due to its low cost and ease of integration. Ethernet is increasingly used as the physical layer in the fieldbus I/O. This is due to the ability of the automation industry to industrialize consumer-driven commodity products for fieldbus implementation, thereby driving down development costs.
Ethernet's physical wiring equipped with open protocols such as PROFINET, EtherCAT, Ethernet/IP, and POWERLINK were invented individually by industrial automation control manufacturers. However, these manufacturers had based their inventions on open standards and these are now managed by international standards organizations. These open standards can easily interface with other companies' devices such as drives and encoders and various kinds of industrial controls on I/O networks.
The reduction of wiring required for industrial devices is another great advantage conferred by adopting Ethernet. Connecting the industrial devices to the controller requires only the I/O network connection, control power, and in the case of high-energy devices and three-phase power, which will contribute to this market's growth.
According to the report, reduction in prices of raw materials is a key driver aiding to the growth of this market. The global ceramics industry is expected to grow at a rapid rate during the forecast period. This industry is primarily driven by the construction industry. The residential segment of the construction industry uses ceramics in sanitary ware, ceramic tiles, table and ornamental ware, bricks, and pipes.
Moreover, the growth in housing prices over the last few years indicates the growing investment in the housing market by consumers. This implies that there is ample opportunity for the growth of the ceramics industry, which is a key end-user segment of the zirconium market.