The IO-link market is expected to observe profitable growth during the forecast period of 2018-2026. The ability of IO-links to integrate with all types of fieldbus systems will bring tremendous growth opportunities. Furthermore, the advancements in digital industrial technologies and energy efficiency aspects will bring immense growth prospects.
- The expanding demand for industry 4.0 will invite extensive growth for the IO-link market. In addition, IO-link solutions assist in reducing wiring and cables for industrial machines. As manufacturing industries focus on compact machines for easy processing, the demand for IO-link solutions increases at a rapid pace. All these factors have a positive impact on the growth of the IO-link market.
- As compared to an Ethernet network, IO-link solutions perform better. The limitations of Ethernet networks help the IO-link market to observe exponential growth. These factors add extra stars of growth to the IO-link market. The overwhelming utilization of IO-link solutions across aerospace and defense, automotive, machine manufacturing, semiconductors, electronics, and others will prove to be a robust pillar of growth.
- Strategic collaborations have an important part in the growth of the IO-link market. The players indulge in these activities for cementing their foothold in the IO-link market, eventually increasing the growth rate of the IO-link market.
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Global IO-Link Market: Overview
The urge of greater operating safety and improved working condition by the manufacturing industries has given a boost to the global IO-link market. IO-link is a robust tool, used by the companies to deploy serial communication protocol with sensor and actuators. It helps in increasing work efficiency and improve working conditions of the manufacturing companies. IO-link basically extends the limit of PLC and offers the transmission of three different data type, namely- service data, process data, and events.
An upcoming TMR report on global IO-link market would help readers gauge various macroeconomic factors, business prospects, trends and opportunities associated with it. A detailed analysis on geographical factor and competitive landscape will give a brief idea of global IO-link market. This study will help readers anticipate business scope of the global IO-link market. Also, the report elaborates the drivers and restraining factors of global IO-link market.
Global IO-Link Market Trends and Opportunities
IO-Link helps in economically optimizing industrial automated processes and operations. It provides a technological base for the development of sensors and actuators that are able to produce as well as consume enriched sets of data. The major drivers of IO-link market is expected to be its ability to support higher level fieldbus, energy efficiency, Ethernet protocols, less production cost, optimizing resource. Also, the limitation of Ethernet has given huge opportunity to the global IO-link market. With several benefits, business entrepreneurs have chosen IO-link as a field level communication protocol in recent years. However, there are few factors restraining growth of global lO-Link market such as lack of standardization and high-speed motion control feature. It could pose a potential threat to the growth of market.
In industrial arrangement, IO-Link technology establishes communication from lowest level of automation such as sensors, actuators, read heads, modules, RFID and so forth to connect with each other. Further, several factors like government initiative, industrial automation, energy efficiency, rise of digital industrial technology are supposed to drive the market of IO-link. Increase of automotive industry across the globe is likely to create new growth opportunities for the IO-Link market players in this country.
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Global IO-Link Market: Geographical Analysis
Global IO-Link market can be broadly categorized into five regions: Asia Pacific, North America, Middle East, Europe, Latin America, and Africa. Among all the five region Asia Pacific is the expected to receive major thrust. The rapidly growing manufacturing companies of the region mainly China, South Korea, and Japan is likely to contribute towards the growing global IO-link market.
Global IO-Link Market: Competitive Landscape
The global IO-link market could depict a fierce landscape because of presence of huge competitors in the industry. With effective usage in manufacturing companies like industry automation, semi conducts, automobiles and so forth the global IO-link market is expected to show a fierce landscape. The top companies of the global IO- Link market are-Siemens, Ifm electronic, Balluff, Sick, Datalogic Festo, Rockwell Automation Omron, Hans Turck Banner Engineering, and Pepperl & Fuchs.
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