Global Industrial Communication Market 2023-2029

Industrial communication refers to the exchange of data and information between different machines, devices, and systems in industrial settings. This communication is crucial for efficient and safe operation of industrial processes and for quick and accurate decision-making. Industrial communication systems can be wired or wireless, and include various protocols and standards, such as Ethernet/IP, CAN, MODBUS, and PROFIBUS. These protocols allow machines and devices from different manufacturers to communicate with each other seamlessly. According to the latest estimates, the global industrial communication market is set to achieve an incremental growth of USD 92.9 billion, accelerating at a CAGR of almost 8.98% during the forecast period 2023-2029.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global industrial communication market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the component, communication, application, and region. The global market for industrial communication can be segmented by component: hardware, software, services. The hardware segment held the largest share of the global industrial communication market in 2022 and is anticipated to hold its share during the forecast period. Industrial communication market is further segmented by communication: industrial ethernet, fieldbus, wireless. Globally, the industrial ethernet segment made up the largest share of the industrial communication market. Based on application, the industrial communication market is segmented into: automotive, aerospace & defense, food and beverages, electrical and electronics, industrial manufacturing, others. The industrial manufacturing segment was the largest contributor to the global industrial communication market in 2022. On the basis of region, the industrial communication market also can be divided into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America is estimated to account for the largest share of the global industrial communication market.

Market Segmentation
By component: hardware, software, services
By communication: industrial ethernet, fieldbus, wireless
By application: automotive, aerospace & defense, food and beverages, electrical and electronics, industrial manufacturing, others
By region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America

The report also provides a detailed analysis of several leading industrial communication market vendors that include Cisco Systems, Inc., Texas Instruments Incorporated, General Electric Company, OMRON Corporation, Schneider Electric SE, Siemens AG, Rockwell Automation, Inc., Mitsubishi Electric Corporation, ABB Ltd., Honeywell International Inc., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
• To analyze and forecast the market size of the global industrial communication market.
• To classify and forecast the global industrial communication market based on component, communication, application, region.
• To identify drivers and challenges for the global industrial communication market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global industrial communication market.
• To identify and analyze the profile of leading players operating in the global industrial communication market.

Why Choose This Report
• Gain a reliable outlook of the global industrial communication market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.