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IO- Link Market by Type (IO-link Wired, IO-link Wireless), Component (IO-Link Masters, IO-Link Devices), Application (Machine Tools, Handling and Assembly Automation Systems, Intralogistics Solutions, Packaging Automation Solutions), Industry (Process Industries, Discrete Industries, Hybrid Industries), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A8120
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Market Overview:
The global IO- link market size reached US$ 10.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 85.3 Billion by 2032, exhibiting a growth rate (CAGR) of 25.65% during 2024-2032. A considerable rise in the adoption of industrial automation across various end-use industries, the increasing need for a standardized and flexible communication interface to integrate field devices, and the implementation of smart manufacturing practices due to the advent of Industry 4.0 represent some of the key factors driving the market.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 10.9 Billion |
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Market Forecast in 2032
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US$ 85.3 Billion |
| Market Growth Rate 2024-2032 | 25.65% |
IO-Link refers to an open standard serial point-to-point communication protocol that enables bidirectional data exchange between IO-Link-supported sensors and devices connected to a master. It enables the transmission of data over multiple networks, thereby making it accessible for immediate action or long-term analysis through industrial information systems. It serves as a technological platform that deploys sensors and actuators to generate cutting-edge data that can be utilized to economically optimize industrial automated operations. In addition to this, IO-Link supports a master-slave configuration with passive connection points, wherein the master serves as a gateway for up to eight IO-Link devices, including sensors, valves, or binary IO modules. Moreover, IO-Link eliminates the need for specialized or complex wiring since it utilizes cost-effective standard unshielded 3-wire cables. Some of the advantages provided by IO-Link include enhanced working environments, better connectivity between field devices, and improved work efficiency.
IO- Link Market Trends:
The global market is primarily driven by a considerable rise in the adoption of industrial automation across various end-use industries. This can be attributed to the increasing need for a standardized and flexible communication interface to integrate field devices in industrial environments. In line with this, the implementation of smart manufacturing practices due to the advent of Industry 4.0 is acting as a significant growth-inducing factor for the market. Moreover, the deployment of predictive maintenance and remote monitoring in a digital ecosystem is resulting in a higher uptake of IO-Link across multiple industrial applications. In addition to this, the rising utilization of the Industrial Internet of Things (IIoT), supervisory control and data acquisition (SCADA) and cloud platforms for enabling intelligent decision-making in multiple environments is fueling the market. The market is further driven by an enhanced focus on sustainable development, which is leading to the widespread adoption of energy management strategies, such as demand-based control, predictive maintenance, and optimized production schedules. Apart from this, the emerging trend of retrofitting and upgrading existing industrial systems is creating lucrative growth opportunities. Furthermore, the growing popularity of integrated safety functions, plug-and-play connectivity, and safe shutdown options in safety-critical applications is creating a positive market outlook. Some of the other factors contributing to the market include rapid industrialization, the increasing emphasis on human-machine interaction, and extensive research and development (R&D) activities.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global IO- link market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type, component, application and industry.
Type Insights:
- IO-link Wired
- IO-link Wireless
The report has provided a detailed breakup and analysis of the IO- link market based on the type. This includes IO-link wired and IO-link wireless. According to the report, IO-link wired represented the largest segment.
Component Insights:
- IO-Link Masters
- PROFINET
- EtherNet/IP
- Modbus-TCP
- EtherCAT
- Multiprotocol
- Others
- IO-Link Devices
- Sensor Nodes
- Modules
- Actuators
- RFID Read Heads and Others
The report has provided a detailed breakup and analysis of the IO- link market based on the component. This includes IO-Link Masters (PROFINET, EtherNet/IP, Modbus-TCP, EtherCAT, Multiprotocol, and others) and IO-Link Devices (sensor nodes, modules, actuators, RFID read heads and others).
Application Insights:
- Machine Tools
- Handling and Assembly Automation Systems
- Intralogistics Solutions
- Packaging Automation Solutions
The report has provided a detailed breakup and analysis of the IO- link market based on the application. This includes machine tools, handling and assembly automation systems, intralogistics solutions, and packaging automation solutions. According to the report, machine tools represented the largest segment.
Industry Insights:
- Process Industries
- Oil and Gas
- Chemicals
- Energy and Power
- Discrete Industries
- Automotive
- Aerospace and Defense
- Semiconductors and Electronics
- Machine Manufacturing
- Packaging
- Hybrid Industries
- Pharmaceuticals
- Metals and Mining
- Food and Beverages
- Cement and Glass
A detailed breakup and analysis of the IO- link market based on the industry has also been provided in the report. This includes process industries (oil and gas, chemicals, and energy and power), discrete industries (automotive, aerospace and defense, semiconductors and electronics, machine manufacturing, and packaging), and hybrid industries (pharmaceuticals, metals and mining, food and beverages, and cement and glass). According to the report, discrete industries accounted for the largest market share.
Regional Insights:
- North America
- United States
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for IO- link. Some of the factors driving the North America IO- link market included continual technological advancements, the advent of Industry 4.0, the presence of several key players, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global IO- link market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include B&R Industrial Automation GmbH (ABB Ltd), Balluff GmbH, Banner Engineering Corp., Baumer Electric AG, Beckhoff Automation GmbH & Co. KG, Belden Inc., BIHL+Weidemann GmbH, Bosch Rexroth AG, Carlo Gavazzi Holding AG, Datalogic SPA, Omron Corporation, Siemens AG, Weidmüller Interface GmbH & Co. KG, Wenglor Sensoric LLC, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Scope of the Report | Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
|
| Types Covered | IO-link Wired, IO-link Wireless |
| Components Covered |
|
| Applications Covered | Machine Tools, Handling and Assembly Automation Systems, Intralogistics Solutions, Packaging Automation Solutions |
| Industries Covered |
|
| Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | B&R Industrial Automation GmbH (ABB Ltd), Balluff GmbH, Banner Engineering Corp., Baumer Electric AG, Beckhoff Automation GmbH & Co. KG, Belden Inc., BIHL+Weidemann GmbH, Bosch Rexroth AG, Carlo Gavazzi Holding AG, Datalogic SPA, Omron Corporation, Siemens AG, Weidmüller Interface GmbH & Co. KG, Wenglor Sensoric LLC, etc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global IO- link market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global IO- link market?
- What is the impact of each driver, restraint, and opportunity on the global IO- link market?
- What are the key regional markets?
- Which countries represent the most attractive IO- link market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the IO- link market?
- What is the breakup of the market based on the component?
- Which is the most attractive component in the IO- link market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the IO- link market?
- What is the breakup of the market based on the industry?
- Which is the most attractive industry in the IO- link market?
- What is the competitive structure of the global IO- link market?
- Who are the key players/companies in the global IO- link market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the IO- link market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global IO- link market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the IO- link industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
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