Global IO-Link Market Growth (Status and Outlook) 2023-2029

Global IO-Link Market Growth (Status and Outlook) 2023-2029

IO-Link is a short distance, bi-directional, digital, point-to-point, wired (or wireless), industrial communications networking standard (IEC 61131-9) used for connecting digital sensors and actuators to either a type of industrial fieldbus or a type of industrial Ethernet. Its objective is to provide a technological platform that enables the development and use of sensors and actuators that can produce and consume enriched sets of data that in turn can be used for economically optimizing industrial automated processes and operations. An IO-Link system consists of an IO-Link master and one or more IO-Link devices, i.e. Sensors or Actuators. The IO-Link master provides the interface to the higher-level controller (PLC) and controls the communication with the connected IO-Link devices.
LPI (LP Information)' newest research report, the “IO-Link Industry Forecast” looks at past sales and reviews total world IO-Link sales in 2022, providing a comprehensive analysis by region and market sector of projected IO-Link sales for 2023 through 2029. With IO-Link sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world IO-Link industry.
This Insight Report provides a comprehensive analysis of the global IO-Link landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on IO-Link portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global IO-Link market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for IO-Link and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global IO-Link.
The global IO-Link market size is projected to grow from US$ 2475 million in 2022 to US$ 5810.8 million in 2029; it is expected to grow at a CAGR of 13.0% from 2023 to 2029.
Global IO-Link key players include SICK, Siemens, Murrelektronik, ifm Electronic, Beckhoff, etc. Global top five manufacturers hold a share about 23%. Europe is the largest market, with a share about 36%, followed by North America and Asia Pacific, both have a share about 51 percent. In terms of product, IO-Link Master is the largest segment, with a share over 40%. And in terms of application, the largest application is Machine Tool & Assembly Line, followed by Intralogistics, etc.
This report presents a comprehensive overview, market shares, and growth opportunities of IO-Link market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
IO-Link Master
IO-Link Sensor
Others
Segmentation by application
Machine Tool & Assembly Line
Intralogistics
Packaging
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
SICK
Siemens
Murrelektronik
ifm Electronic
Rockwel Automation
Beckhoff
Baumer Group
Turck
WAGO
Belden
Bosch Rexforth
Pepperl+Fuchs
Balluff
Wenglor
Weidmüller
Omron

Please note: The report will take approximately 2 business days to prepare and deliver.