Research Report: Industrial Communication Market (2020-2024) | Emergence of New and Innovative Fieldbus to boost the Market Growth | Technavio
LONDON–(BUSINESS WIRE)–Technavio has been monitoring the industrial communication market and it is poised to grow
LONDON–(BUSINESS WIRE)–Technavio has been monitoring the industrial communication market and it is poised to grow by USD 69.77 billion during 2020-2024, progressing at a CAGR of almost 12% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- Based on segmentation by protocol, which is the leading segment in the market?
- The fieldbus segment is expected to be the leading segment in the global market during the forecast period.
- What are the major trends in the market?
- Increasing deployment of industrial Ethernet solutions is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 12%, the incremental growth of the market is anticipated to be USD 69.77 billion.
- Who are the top players in the market?
- ABB Ltd., Advantech Co. Ltd., Cisco Systems Inc., Emerson Electric Co., General Electric Co., National Instruments Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Texas Instruments Inc. are some of the major market participants.
- What are the key market drivers and challenges?
- Emergence of new and innovative Fieldbus is one of the major factors driving the market. However, the lack of determinism in industrial communication networks restraints the market growth.
- How big is the APAC market?
- The APAC region will contribute 45% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Advantech Co. Ltd., Cisco Systems Inc., Emerson Electric Co., General Electric Co., National Instruments Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Texas Instruments Inc. are some of the major market participants. The emergence of new and innovative Fieldbus will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Industrial Communication Market 2020-2024: Segmentation
Industrial Communication Market is segmented as below:
- Industrial Ethernet
- North America
- South America
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Industrial Communication Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The industrial communication market report covers the following areas:
- Industrial Communication Market Size
- Industrial Communication Market Trends
- Industrial Communication Market Analysis
This study identifies increasing deployment of industrial Ethernet solutions as one of the prime reasons driving the industrial communication market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Industrial Communication Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist industrial communication market growth during the next five years
- Estimation of the industrial communication market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the industrial communication market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of industrial communication market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Protocol
- Market segments
- Comparison by Protocol
- Fieldbus – Market size and forecast 2019-2024
- Industrial Ethernet – Market size and forecast 2019-2024
- Wireless – Market size and forecast 2019-2024
- Market opportunity by Protocol
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- Advantech Co. Ltd.
- Cisco Systems Inc.
- Emerson Electric Co.
- General Electric Co.
- National Instruments Corp.
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Texas Instruments Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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