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Global Industrial Communication Market to reach USD 32.3 billion by the end of 2030

Global Industrial Communication Market Size study & Forecast, by Offering (Introduction, Components, Software, Services), by Communication Protocol (Introduction, Fieldbus, Industrial Ethernet, Wireless), by Vertical (Industrial, Automotive, Electrical & Electronics, Aerospace & Defense, Others) and Regional Analysis, 2023-2030

Product Code: ICTICTI-52447115
Publish Date: 10-08-2023
Page: 200

Global Industrial Communication Market is valued at approximately USD 20.7 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.7% over the forecast period 2023-2030. Industrial communication refers to the network infrastructure and technologies utilized for seamless and reliable data exchange within industrial environments. It encompasses a wide range of wired and wireless communication systems, protocols, and devices that connect and coordinate industrial equipment, machinery, sensors, and control systems. Industrial communication enables real-time monitoring, control, and integration of industrial processes, facilitating efficient operations, automation, and data-driven decision-making. It plays a crucial role in industrial automation, Industry 4.0 initiatives, and the Industrial Internet of Things (IIoT), ensuring effective communication, interoperability, and connectivity across the industrial ecosystem. The factors driving the market growth are increasing industrial automation and growing demand for Real-Time Data Exchange.

As industries automate their processes, there will be a growing need for reliable and efficient communication systems to connect various devices and enable seamless data exchange. This will drive the demand for industrial communication technologies such as Ethernet, wireless networks, and industrial protocols. The industrial communication market is poised to experience substantial growth as automation continues to expand across industries, enhancing productivity and efficiency. According to Statista, the size of the global industrial automation market was approx. USD 207 billion and is expected to grow at a CAGR of around 9% until 2025. Another factor driving the space is the growing demand for Real-Time Data Exchange for monitoring and controlling operations in industries. Moreover, the integration of Artificial Intelligence (AI) and Machine Learning (ML) and the expansion of the Industrial IoT (IIoT) ecosystem is expected to create lucrative opportunities in the future. However, the high implementation and deployment costs and lack of skilled workforce stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Industrial Communication Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the policies and initiatives taken by the government to drive automation and digitalization in industries, including programs that provide financial incentives and funding for research and development in advanced technologies. Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as the rise in demand for advanced manufacturing hubs for consumer electronics and automobiles in countries such as China and India.

Major market player included in this report are:
Cisco Systems, Inc.
Huawei Technologies Co., Ltd.
Belden Inc.
Bosch Rexroth AG
AAEON Technology Inc.
Honeywell International Inc.
Mitsubishi Electric Corporation
Hans Turck GmbH & Co. KG
Hitachi, Ltd.
ACS Motion Control

Recent Developments in the Market:
Ø In February 2023, Cisco Systems, Inc. launched the 5G Cellular Gateways for fixed wireless access (FWA) under the Meraki brand. The Cisco Meraki MG51 and MG51E gateways leverage 5G technology and prioritize cloud-based networking for efficient Wide Area Networking (WAN) operations.
Ø In December 2022, Rockwell Automation launched FactoryTalk Logix Echo, a new offering designed to simplify the emulator process. It enables users to directly download their programs to FactoryTalk Logix Echo without the need for any modifications or adjustments, streamlining the overall emulator experience.

Global Industrial Communication Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Offering, Communication Protocol, Vertical, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Offering:
By Communication Protocol:
Industrial Ethernet
By Vertical:
Electrical & Electronics
Aerospace & Defense

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Industrial Communication Market, by Region, 2020-2030 (USD Billion)
1.2.2. Industrial Communication Market, by Offering, 2020-2030 (USD Billion)
1.2.3. Industrial Communication Market, by Communication Protocol, 2020-2030 (USD Billion)
1.2.4. Industrial Communication Market, by Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Industrial Communication Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Industrial Communication Market Dynamics
3.1. Industrial Communication Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing Industrial Automation Growing demand for Real-Time Data Exchange
3.1.2. Market Challenges High implementation and deployment costs Lack of skilled workforce
3.1.3. Market Opportunities Integration of Artificial Intelligence (AI) and Machine Learning (ML) Expansion of Industrial IoT (IIoT) ecosystem
Chapter 4. Global Industrial Communication Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Industrial Communication Market, by Offering
5.1. Market Snapshot
5.2. Global Industrial Communication Market by Offering, Performance – Potential Analysis
5.3. Global Industrial Communication Market Estimates & Forecasts by Offering 2020-2030 (USD Billion)
5.4. Industrial Communication Market, Sub Segment Analysis
5.4.1. Components
5.4.2. Software
5.4.3. Services
Chapter 6. Global Industrial Communication Market, by Communication Protocol
6.1. Market Snapshot
6.2. Global Industrial Communication Market by Communication Protocol, Performance – Potential Analysis
6.3. Global Industrial Communication Market Estimates & Forecasts by Communication Protocol 2020-2030 (USD Billion)
6.4. Industrial Communication Market, Sub Segment Analysis
6.4.1. Fieldbus
6.4.2. Industrial Ethernet
6.4.3. Wireless
Chapter 7. Global Industrial Communication Market, by Vertical
7.1. Market Snapshot
7.2. Global Industrial Communication Market by Vertical, Performance – Potential Analysis
7.3. Global Industrial Communication Market Estimates & Forecasts by Vertical 2020-2030 (USD Billion)
7.4. Industrial Communication Market, Sub Segment Analysis
7.4.1. Industrial
7.4.2. Automotive
7.4.3. Electrical & Electronics
7.4.4. Aerospace & Defense
7.4.5. Others
Chapter 8. Global Industrial Communication Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Industrial Communication Market, Regional Market Snapshot
8.4. North America Industrial Communication Market
8.4.1. U.S. Industrial Communication Market Offering breakdown estimates & forecasts, 2020-2030 Communication Protocol breakdown estimates & forecasts, 2020-2030 Vertical breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Industrial Communication Market
8.5. Europe Industrial Communication Market Snapshot
8.5.1. U.K. Industrial Communication Market
8.5.2. Germany Industrial Communication Market
8.5.3. France Industrial Communication Market
8.5.4. Spain Industrial Communication Market
8.5.5. Italy Industrial Communication Market
8.5.6. Rest of Europe Industrial Communication Market
8.6. Asia-Pacific Industrial Communication Market Snapshot
8.6.1. China Industrial Communication Market
8.6.2. India Industrial Communication Market
8.6.3. Japan Industrial Communication Market
8.6.4. Australia Industrial Communication Market
8.6.5. South Korea Industrial Communication Market
8.6.6. Rest of Asia Pacific Industrial Communication Market
8.7. Latin America Industrial Communication Market Snapshot
8.7.1. Brazil Industrial Communication Market
8.7.2. Mexico Industrial Communication Market
8.8. Middle East & Africa Industrial Communication Market
8.8.1. Saudi Arabia Industrial Communication Market
8.8.2. South Africa Industrial Communication Market
8.8.3. Rest of Middle East & Africa Industrial Communication Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Cisco Systems, Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Huawei Technologies Co., Ltd.
9.3.3. Belden Inc.
9.3.4. Bosch Rexroth AG
9.3.5. AAEON Technology Inc.
9.3.6. Honeywell International Inc.
9.3.7. Mitsubishi Electric Corporation
9.3.8. Hans Turck GmbH & Co. KG
9.3.9. Hitachi, Ltd.
9.3.10. ACS Motion Control
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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