Industrial Communication Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Industrial Communication Market was worth USD 137.97 billion in 2023 and will exhibit a 6.8% CAGR throughout 2024-2032. Industry 4.0 has transformed industrial communication through the integration of IoT, AI, and advanced analytics in smart factories. This technological shift enhances growth by improving operational efficiency, enabling real-time data collection, and supporting predictive maintenance. Interconnected devices and intelligent systems optimize production, minimize downtime, and boost productivity, driving continuous innovation and competitive advantage. As systems become more connected, cybersecurity becomes essential. Investments in encryption, intrusion detection, and secure communication protocols safeguard industrial networks, protecting sensitive data and fostering trust, which supports market growth and mitigates cyber risks.

The industrial communication industry is segregated based on component, protocol, application, and region.

The ethernet segment captured over 49% share in 2023 due to its widespread adoption in industrial automation and smart manufacturing. Ethernet offers high-speed, reliable data transmission, making it ideal for real-time communication and control in industrial systems. Its scalability, cost-effectiveness, and ability to integrate with IoT devices further enhance its appeal. As industries increasingly adopt advanced automation technologies and interconnected systems, Ethernet's capability to support large-scale networks ensures its dominance in the industrial communication market.

The aerospace and defense segment will garner 7.5% CAGR through 2032 due to its critical need for secure, reliable, and high-performance communication systems. This sector demands advanced solutions to support complex and mission-critical operations, including real-time data exchange, control systems, and secure communications. The stringent requirements for reliability, safety, and precision drive significant investment in industrial communication technologies. As aerospace and defense projects continue to grow in complexity, their need for robust communication infrastructure ensures the segment's dominant market position.

Europe industrial communication industry captured 35% share in 2023, driven by its advanced industrial infrastructure, strong focus on automation, and sizable investments in smart manufacturing technologies. The region's emphasis on digital transformation and Industry 4.0 drives demand for sophisticated communication systems that ensure seamless data exchange and operational efficiency. Additionally, Europe's rigorous standards for safety and reliability in industrial processes further boost the adoption of high-performance communication solutions. Europe's robust industrial base and technological advancements make it a key contributor to the global market.

Product Code: 3367

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast parameters
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360º synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Technology and innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
3.8 Growth drivers
- 3.8.1 Smart factory revolution
- 3.8.2 Enhanced data security measures
- 3.8.3 Seamless cloud Integration
- 3.8.4 Adoption of standardized protocols
- 3.8.5 Real-time analytics and AI integration
3.9 Industry pitfalls and challenges
- 3.9.1 Legacy system compatibility challenges
- 3.9.2 Complexity of cybersecurity management
3.10 Growth potential analysis
3.11 Porter's analysis
- 3.11.1 Supplier power
- 3.11.2 Buyer power
- 3.11.3 Threat of new entrants
- 3.11.4 Threat of substitutes
- 3.11.5 Industry rivalry
3.12 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Component, 2021 - 2032 (USD Billion)

5.1 Key trends
5.2 Hardware
- 5.2.1 Switches
- 5.2.2 Hubs, routers and gateways
- 5.2.3 Connectors
- 5.2.4 Communication interfaces
- 5.2.5 Controllers and Processors
- 5.2.6 Others
5.3 Software
5.4 Services
- 5.4.1 Installation
- 5.4.2 Maintenance

Chapter 6 Market Estimates and Forecast, By Communication Protocol, 2021 - 2032 (USD Billion)

6.1 Key trends
6.2 Fieldbus
- 6.2.1 Profibus
- 6.2.2 Modbus
- 6.2.3 CC- Link
- 6.2.4 DeviceNet
- 6.2.5 CANopen
- 6.2.6 Others
6.3 Ethernet
- 6.3.1 Profinet
- 6.3.2 Ethernet/IP
- 6.3.3 EtherCAT
- 6.3.4 Modbus - TCP
- 6.3.5 Powerlink
- 6.3.6 Others
6.4 Wireless
- 6.4.1 WLAN
- 6.4.2 ISA100.11a
- 6.4.3 Wireless HART
- 6.4.4 Others

Chapter 7 Market Estimates and Forecast, By Application, 2021 - 2032 (USD Billion)

7.1 Key trends
7.2 Automotive and transportation
7.3 Electrical and electronics
7.4 Aerospace and defense
7.5 Oil and gas
7.6 Food and beverages
7.7 Energy and power
7.8 Chemical
7.9 Pharmaceutical
7.10 Industrial manufacturing
7.11 Others

Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2032 (USD Billion)

8.1 Key trends
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Rest of Europe
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 ANZ
- 8.4.6 Rest of Asia Pacific
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Rest of Latin America
8.6 MEA
- 8.6.1 UAE
- 8.6.2 Saudi Arabia
- 8.6.3 South Africa
- 8.6.4 Rest of MEA

Chapter 9 Company Profiles

9.1 ABB Ltd.
9.2 Advantech Co. Ltd.
9.3 B and R Industrial Automation
9.4 Beckhoff Automation
9.5 Beckhoff Automation GmbH
9.6 Belden Inc.
9.7 Bosch Rexroth AG
9.8 Cisco Systems Inc.
9.9 Emerson Electric Co.
9.10 General Electric (GE)
9.11 HCL Technologies
9.12 Honeywell International Inc.
9.13 Mitsubishi Electric Corporation
9.14 Moxa
9.15 National Instruments Corporation
9.16 Omron Corporation
9.17 Rockwell Automation
9.18 Schneider Electric
9.19 Siemens
9.20 Texas Instruments Incorporated