IO-Link Market Size & Trends
The global IO-Link market size was estimated at USD 13.51 billion in 2023 and is expected to grow at a CAGR of 19.2% from 2024 to 2030. The market is experiencing a surge in adoption within industrial automation owing to the growing demand for increased communication between sensors and actuators. This technology allows for seamless data exchange, improving the efficiency and reliability of industrial processes. The trend towards smart factories and Industry 4.0 is driving the demand for IO-Link systems, as they enable real-time data monitoring and predictive maintenance, reducing downtime and operational costs.
The integration of IO-Link technology into IIoT applications is a significant trend driving the market. IO-Link’s ability to facilitate two-way communication between devices and control systems is crucial for implementing advanced IIoT solutions. This technology supports the collection and analysis of data from various sensors, enhancing decision-making processes and operational efficiency. As industries increasingly adopt IIoT to streamline operations, the demand for IO-Link is expected to grow.
The automotive sector is a key driver of the market, with manufacturers leveraging this technology to enhance production line automation. IO-Link systems help in monitoring and controlling various manufacturing processes, ensuring higher precision and quality. The trend towards electric and autonomous vehicles is further boosting the demand for advanced automation solutions, including IO-Link, to maintain competitive production standards and meet stringent quality requirements.
Recent advancements in IO-Link wireless technology are opening new opportunities for the market. Wireless IO-Link systems eliminate the need for complex wiring, reducing installation costs and enhancing flexibility in industrial setups. This trend is particularly beneficial in applications where cabling is impractical or costly, such as rotating machinery or mobile equipment. The development of robust and reliable wireless IO-Link solutions is expected to drive market growth significantly.
Moreover, the food and beverage industry are increasingly adopting IO-Link technology to improve production efficiency and ensure compliance with stringent safety standards. IO-Link systems enable precise control and monitoring of processing equipment, ensuring product quality and consistency. The trend towards automation in this industry, driven by the need for high hygiene standards and traceability, is expected to fuel the growth of the market.
Global IO-Link Market Report Segmentation
This report forecasts and estimates revenue growth at the global, regional, and country levels along with analyzes the latest market trends and opportunities in each one of the sub-segments from 2018 to 2030. For this study, Grand View Research has further segmented the global IO-Link market report based on technology, component, end-use, application, and region.- Technology Outlook (Revenue, USD Million, 2018 - 2030)
- IO-Link Wired
- IO-Link Wireless
- Component Outlook (Revenue, USD Million, 2018 - 2030)
- IO-Link Masters
- PROFINET
- EtherNet/IP
- Modbus-TCP
- EtherCAT
- Multiprotocol
- Others
- IO-Link Devices
- Sensor Nodes
- Modules
- Actuators
- Others
- End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Aerospace & Defense
- Automotive
- Manufacturing
- Electronics & Semiconductors
- F&B (Food & Beverages)
- Pharmaceuticals
- Chemicals
- Oil & Gas
- Packaging
- Utilities
- Others
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Monitoring
- Predictive Maintenance
- Process Automation
- Quality Control
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Middle East and Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. IO-Link Market - Industry Outlook
Chapter 4. IO-Link Market: Technology Estimates & Trend Analysis
Chapter 5. IO-Link Market: Component Estimates & Trend Analysis
Chapter 6. IO-Link Market: End Use Estimates & Trend Analysis
Chapter 7. IO-Link Market: Application Estimates & Trend Analysis
Chapter 8. Regional Estimates & Trend Analysis
Chapter 9. IO-Link Market - Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Balluff Automation India Pvt. Ltd.
- Beckhoff Automation GmbH & Co. KG
- Belden Inc.
- Bosch Rexroth Corporation
- Datalogic S.p.A.
- Emerson Electric Co.
- OMRON Corporation
- Rockwell Automation Inc.
- SICK AG
- Siemens AG
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 170 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 13.51 Billion |
| Forecasted Market Value ( USD | $ 48.57 Billion |
| Compound Annual Growth Rate | 19.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
