IO-Link Market Size, Share, Growth Analysis and Forecast 2028

The global IO-Link market, which was estimated at about 3 (USD Billion) in 2019 and is predicted to accrue earnings worth 14 (USD Billion) by 2025, is set to record a CAGR of nearly over 35% during 2019-2025. The report offers valuation and analysis of IO-Link market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).

IO-Link Market: Overview

IO-Link is a short distance, bi-directional, digital, and point-to-point communication protocol that can be utilized in automated technology through linking of digital sensors & actuators to high-level fieldbus or ethernet even if they are at distant places. Furthermore, IO-link delivers information through the sensors and this information is utilized for monitoring the activities in different industries. Sensors as well as actuators link to Master equipment through IO-Link and this helps master equipment interact effectively with programmable logic controller.

IO-Link Market: Growth Dynamics

The massive focus on optimizing resources, raising proficiency, and reducing manufacturing costs will prompt the expansion of IO-Link industry over the forecast period. In addition to this, large-scale use of digital industrial systems and favorable government schemes for accepting industrial automation will propel the surge in industry in the years to come. Nonetheless, low level of standardization can put brakes on the market expansion in the years ahead. However, easy access to cloud interface in IO-Link along with introduction of IO-link safety specifications in 2017 will provide new growth avenues for IO-Link market in the year ahead.

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Furthermore, growing need for enhancing power efficacy along with onset of industrial 4.0 revolution will bring a paradigm shift in the digital world, thereby influencing the expansion of IO-Link industry over the next couple of years. With acceptance of ethernet communication as standard protocol in automotive, semiconductor & electronics, and medical equipment sectors, the IO-Link industry is anticipated to gain traction over the years to come.

Global IO-Link Market Report Scope:

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Asia Pacific IO-Link Market To Expand Exponentially Over 2019-2025

The expansion of IO-Link Industry in Asia Pacific over the forecast period is credited to flourishing production industry in the countries such as India and China in the Asia Pacific zone. Apart from this, China is the manufacturing destination for various automotive firms and semi-conductor materials across the globe and this factor is likely to play a major role in leveraging the growth of IO-Link Market in the sub-continent as it will attract the industry players to set up their manufacturing units in the country.

Key players profiled in the study include Festo, Hans Turck, Rockwell Automation, Pepperl & Fuchs, Banner Engineering, Siemens, Ifm electronic, Balluff, SICK, Omron, and Datalogic.

The global IO-Link market is segmented as follows:

By Component

• IO-Link Masters
• IO-Link Devices
  • Sensor Nodes
  • Modules
  • Actuators
  • RFID Read Heads and Others

By Application

• Machine Tool
• Handling and Assembly Automation
• Packaging
• Intralogistics

By Industry

• Discrete
• Hybrid
• Process

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa