Global IO-Link Market Size study, By Component, IO-link Master, IO-link Devices, Sensor Nodes, Modules, Actuators, RFID Read Heads, Others), By Type (IO-link Wired, IO-link Wireless), By Application (Machine Tool, Handling & Assembly Automation, Intralogi

Global IO-Link Market Size study, By Component, IO-link Master, IO-link Devices, Sensor Nodes, Modules, Actuators, RFID Read Heads, Others), By Type (IO-link Wired, IO-link Wireless), By Application (Machine Tool, Handling & Assembly Automation, Intralogistics, Packaging), By End Use Industry (Oil & Gas, Energy & Power, Automotive, Aerospace & Defense, Pharmaceuticals, Food & Beverages, Chemicals, Others), and Regional Forecasts 2022-2028

Global IO-Link Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. The IO-Link can be defined as a point-to-point communication protocol. It is bi-directional, means works two ways and works over a short distance. It is widely used to communicate with sensors and actuators in plant or factory setup. IO-Link, the field devices, such as actuators and sensors, connected to a central device that communicates to a Programmable Logic Controller. This setup is utilized across different industries such as Oil & Gas, Energy & Power, Automotive, Aerospace & Defense, Pharmaceuticals, Food & Beverages, and Chemicals among others. The growing spending on industrial automation and increasing adoption of IO-Link in automotive sector as well as recent product launches from leading market players are factors that are accelerating the global market demand. For instance, according to Statista – in 2022, global industrial automation market was estimated at USD 175 billion, and the size of the global industrial automation market is projected to grow to USD 265 billion by 2025, witnessing a compound annual growth rate (CAGR) of around 9 percent. Furthermore, leading market players are coming up with new products to capitalize the increasing demand for IO link systems. For instance, in May 2022, North Carolina, US based SPX FLOW, Inc., specializes in process solutions for the Industrial and Nutrition & Health markets, launched a new control unit as a part of the CU4plus platform. The new platform also features IO-Link communication protocol. The CU4plus IO-link Control Unit works with all APV and Waukesha Cherry-Burrell valve ranges and can be integrated with any existing installed base. Also, growing adoption of Industry 4.0. and rising investment towards Industrial Internet of Things (IIoT) solutions are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, rising concern over cyber-attacks and increasing adoption of compact machines impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global IO-Link Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing automation across different industries and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of the automotive sector and increasing investment towards industrial automation in the region, would create lucrative growth prospects for the global IO-Link Market across the Asia Pacific region.

Major market players included in this report are:
Siemens
Hans Turck GmbH & Co. KG
Balluff GmbH
ifm electronic GmbH
SICK AG
Rockwell Automation, Inc.
Omron Corporation
Pepperl+Fuchs
Banner Engineering Corp.
Emerson Electric Co.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component
IO-link Master
IO-link Devices
Sensor Nodes
Modules
Actuators
RFID Read Heads
Others

By Type
IO-link Wired
IO-link Wireless
By Application
Machine Tool
Handling & Assembly Automation
Intralogistics
Packaging
By End Use Industry
Oil & Gas
Energy & Power
Automotive
Aerospace & Defense
Pharmaceuticals
Food & Beverages
Chemicals
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global IO-Link Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors



Companies Mentioned

Siemens
Hans Turck GmbH & Co. KG
Balluff GmbH
ifm electronic GmbH
SICK AG
Rockwell Automation, Inc.
Omron Corporation
Pepperl+Fuchs
Banner Engineering Corp.
Emerson Electric Co.

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