Communications Interface Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (1-Port, 2-Port, and Others), Mode of Communication [Wired (Ethernet, USB, RS-232/RS-485, and Others) and Wireless & Hybrid], and Application (Industrial Mon

Communications Interface Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (1-Port, 2-Port, and Others), Mode of Communication [Wired (Ethernet, USB, RS-232/RS-485, and Others) and Wireless & Hybrid], and Application (Industrial Monitoring, Battery Monitoring System, Remote Sensors Communication, Railway Signaling System, Machine to Machine Communication, and Others)

Communications Interface Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 10,388.04 million by 2028 and register a CAGR of 8.9% from 2022 to 2028. The continuously growing demand for industrial automation systems across the world has influenced robot manufacturers to raise their investments in developing new and innovative products, boosting communications interface market growth indirectly. A few of the major product developments are mentioned below:

In September 2022, Fanuc Corporation announced the launch of new FANUC SCARA robots for food and cleanroom applications. The FANUC SR-3iA/C and SR-6iA/C are fast and precise SCARA robots.
In September 2022, ABB Ltd launched flexible mobile robots. These robots are designed to carry out tasks such as trolley transportation of up to 5,350 lbs (2,000 kg); towing; and lifting and transporting containers, racks, and pallets of 4,000 lbs (1,500 kg).
In May 2022, FANUC Corporation announced the launch of CRX collaborative robots. This series added three new collaborative robots—CRX-5iA, CRX-20iA/L, and CRX-25iA cobots. The company claims that these robots are safe, reliable, easy-to-use, and versatile solutions for inspection, packing, machine load/unloading, palletizing, and welding.

The rising development of new and advanced robots is increasing the demand for robot components such as control systems, manipulators, locomotive devices, PLCs, and DCS. Thus, the increasing demand for feedback devices like PLCs is driving the need for communication interfaces, thereby contributing to the communications interface market growth.

The communications interface market in North America showcased significant growth over the years. The wide presence of manufacturing industries and the rapid adoption of advanced and automated technologies by these industries to enhance their manufacturing capabilities are contributing to the communications interface market growth. The presence of several robot and IoT device manufacturers in the country, such as Universal Robots A/S; Clearpath Robotics Inc.; AgEagle Aerial Systems; and Bastian Solutions, Inc., is further propelling the demand for manufacturing components and subcomponents across the region. These factors are expected to fuel the communications interface market growth in North America during the forecast period.

Impact of COVID-19 Pandemic on Communications Interface Market

Several economies in Asia Pacific experienced a sharp decline in their GDP in 2020 due to the sudden closedown of most economic activities across the countries. According to the Organization for Economic Co-operation and Development (OECD), the COVID-19 pandemic affected major countries, including India, China, Australia, and Japan. Additionally, the outbreak waves were coming at different time points for each country in the region. Hence, multinational enterprises operating in the region had to reconfigure their manufacturing operations to ensure business competitiveness. Despite such an uncertain business scenario, the adoption of industrial automation solutions continued to witness good growth rates. Installations in China, which is the region's largest adopter, grew strongly by 20%, with 168,400 robot units shipped in 2020. The electronics & semiconductor industry invested significantly in industrial automation solutions in 2020 and 2021. These factors are expected to revive the communications interface market size over the forecast period.

Germany is one of the leading countries in Europe that have adopted automated solutions. In Germany, robotics and automation adoption increased by 13% in 2021. Also, according to the VDMA Robotics + Automation association, in 2022, the robotics and automation (R&A) forecast will increase by 6% with an expected industry turnover of US$ 15.17 billion (€14.4 billion). They have also forecasted a 7% increase in sales for integrated assembly solutions to US$ 8.01 billion (€7.6 billion) in 2022. Thus, the growth of the robotics & automation sector is boosting the demand for smart and connected devices for enabling seamless manufacturing across the country. According to Germany Trade & Invest (GTAI), Germany alone is expected to record a sale of 71,000 cobots is projected by 2025. Thus, the constant rise in the manufacturing of the same is expected to increase the demand for parts and sub-parts. This is fueling the growth of the communications interface market share of the country during the forecast period.

Over the years, Mexico has experienced a rise in investments in the manufacturing industry, especially automotive. Volkswagen, Ford, Toyota, Nissan, and other global automotive brands have opened their manufacturing plants in Mexico. The companies also increased investments to adopt technology, such as robots, to speed up production and reduce operation costs. Lear, an automotive component manufacturer, has integrated robotics in its Mexico plant to drill the bases of vehicle seats where they are installed. Such factors are driving the demand for robot sub-components in the country, which is contributing to the growth of the communications interface market. Additionally, the implementation of the trade agreement in June 2020 between the US, Mexico, and Canada has further boosted the manufacturing sector of Mexico, which is fueling the growth of the communications interface market size in Mexico.

ABB Ltd., Eaton Corp Plc, Honeywell International Inc, Omron Corp, and Rockwell Automation Inc. are a few communications interface market players operating in the globe.

The overall communications interface market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the communications interface market size with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants of this process include VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the communications interface market.

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