- Industrial Area
- Hazardous Area Communication
- Public Address/General Alarm
Industrial Communications Market is estimated to be valued at USD 312.9 million in 2022 and is poised to grow at a significant CAGR of 3.2% over 2023-2029. Industrial communication is the key to increased efficiency in every business since it allows the organisation to operate machines and the whole production line, monitor current traffic systems, and control power distribution. The industrial area communication segment anticipated to grow at significant CAGR over the forecast years owing the significant rise in demand for wireless technologies such as Bluetooth Smart, Wireless HART, WLAN, and Zigbee is creating new development potential in the industrial communication industry, primarily in the oil and gas chemicals, electronics, and energy and power generating industries. Moreover, the other player are focusing on launching new product for instance In March 2022, Moxa, a leader in industrial communications and networking, launched its next-generation industrial Ethernet switches, the EDS-4000/G4000 Series. The EDS-4000/G4000 series includes 68 models to help Moxa’s customers build future-proof industrial networks to strengthen operational resilience in industrial spaces such as power, transportation, maritime, and factory automation. Major factors that are expected to boost the growth of the industrial communication market in the forecast period are the rise in the demand for scalable, faster, reliable, and interoperable communication protocols. Furthermore, the growing of the utilization of digital twin to safely monitor smart production operations is further anticipated to propel the growth of the industrial communication market.
Industrial Communications Market Recent Key Developments:
In May 2022, Siemens (Germany) announced its VXLAN transmission technology allows transmission of Profinet IO via a private 5G network, which allows data to be transmitted in real time for industrial applications.
Fastest Growing Market
Industrial Internet of Things connects different infrastructure and reduces operating expenses which helps drive the growth of industrial communication market. The increased bandwidth capabilities of open networks like Ethernet is used in Internet of Things automation and smart factories to streamline maintenance in order to eliminate breakdowns. Also, due to wide adoption of M2M (Machine to Machine) solutions for controlling power grid communications and remote monitoring of smart meters has contributed to the growth of industrial communication market.
The industrial communications market growing at a CAGR of 3.2% during 2022
Cisco (US), Siemens (Germany), Rockwell Automation (US), Omron (Japan), Moxa (Taiwan), Huawei Technologies (China)
Asia Pacific is the fastest-growing region for the industrial communications market
The self-service segment holds the highest market share.