Io Link Market
PUBLISHED: 2021 ID: SMRC20717
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Io Link Market

Input/Output (IO)-Link Market Forecasts to 2028 – Global Analysis By Type (IO-Link Wired, IO-Link Wireless), Component (Actuators, IO-Link Master, IO-Link Devices, Modules, Radio-frequency Identification (RFID) Read Heads), Application, End User and By Geography

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4.1 (46 reviews)
Published: 2021 ID: SMRC20717

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global IO-Link Market is accounted for $6.92 billion in 2020 and is expected to reach $36.73 billion by 2028 growing at a CAGR of 23.2% during the forecast period. Ability to support all field-bus protocols and rising demand for industry 4.0 are the major factors propelling the market growth. However, cyber risks associated with automation systems and use of compact machines hampering the market growth.

IO-Link is a short distance, point-to-point, wired (or wireless), bi-directional, digital, industrial communications networking standard (IEC 61131-9) used for connecting digital sensors and actuators to either a type of industrial field-bus 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.

Based on type, the IO-link wired segment is going to have a lucrative growth during the forecast period owing to the growing demand for cost-saving installation of two-way communication between field devices such as sensors, actuators, controllers, and other automation systems on a factory floor. IO-Link wired simplifies wiring, which makes its installation cost lower than a conventional solution. This is due to the use of field modules and connections with cables that do not require shielding. IO-Link wired platform is used by industry players to install serial communication protocol with sensors and actuators. It enables bidirectional exchange of data from field devices and makes data accessible for analysis to programmable logic controllers (PLCs) and human–machine interfaces (HMI). This helps improve work efficiency and working conditions in manufacturing companies.

By geography, Europe is going to have a lucrative growth during the forecast period due to the presence of aerospace & defense, automotive, and industrial manufacturing verticals in the region. Europe comprises major growing economies, such as the Germany, UK, and France, which offer significant growth opportunities for the market. Also, the rising demand for IoT-connected devices and industrial automation in manufacturing industries is driving the growth of the European IO-Link market. Additionally, the European government is taking initiatives to establish smart factories and digitize European industries, thus driving the demand for IO-Link solutions.

Some of the key players profiled in the IO-Link Market include ABB, Aventics, Balluff GmbH, Baumer, Beckhoff Automation, Belden Inc, Bosch Rexroth AG, Datalogic, Festo SE & Co. KG, Hans Turck GmbH & Co. KG, ifm electronic GmbH, Omron Corporation, Pepperl+Fuchs, Rockwell Automation, Inc, SICK AG, Siemens, SMC Corporation, Turck, Weidmuller, and Wenglor.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 6.92 billion

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

23.2%

Predicted 2028 Value:

USD 36.73 billion

Forecast Years:

2021-2028

Tables, Graphs& Figures

238

Chapters Covered:

Type, Component, Application, End User and Region

Core Drivers and Opportunities:

  • Growing demand for industry 4.0
  • Rising demand for remote configuration, monitoring, and maintenance
  • limitations of ethernet

Restraining Factors & Market Threats:

  • Cyber risks associated with automation systems
  • Use of compact machines

 
Types Covered:
• IO-Link Wired
• IO-Link Wireless

Components Covered:
• Actuators
• IO-Link Master
• IO-Link Devices
• Modules
• Radio-frequency Identification (RFID) Read Heads

Applications Covered:
• Automation
• Control Cabinets
• Handling and Assembly Automation
• Intralogistics
• Machine Tool
• Packaging

End Users Covered:
• Process Industries
• Discrete Industries
• Hybrid Industries

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global IO-Link Market is majorly driven by ability to support all fieldbus protocols and growing adoption of IO-Link in automotive industry.

The IO-link wired segment is growing at a highest CAGR owing to the rising demand for cost-saving installation of two-way communication between field devices such as sensors, actuators, controllers, and other automation systems on a factory floor.

Europe dominated with a significant market share due to the factors such as the rising demand for IoT-connected devices and industrial automation in manufacturing industries across the region.

Asia Pacific market is growing at a highest CAGR owing to the increasing manufacturing sector in the region.

Key players in IO-Link Market include ABB, Aventics, Balluff GmbH, Baumer, Beckhoff Automation, Belden Inc, Bosch Rexroth AG, Datalogic, Festo SE & Co. KG, Hans Turck GmbH & Co. KG, ifm electronic GmbH, Omron Corporation, Pepperl+Fuchs, Rockwell Automation, Inc, SICK AG, Siemens, SMC Corporation, Turck, Weidmuller, and Wenglor.

Table of Contents

1 Executive Summary        
          
2 Preface    
      
 2.1 Abstract        
 2.2 Stake Holders       
 2.3 Research Scope       
 2.4 Research Methodology      
  2.4.1 Data Mining      
  2.4.2 Data Analysis      
  2.4.3 Data Validation      
  2.4.4 Research Approach      
 2.5 Research Sources        
  2.5.1 Primary Research Sources     
  2.5.2 Secondary Research Sources     
  2.5.3 Assumptions      
          
3 Market Trend Analysis       
 3.1 Introduction       
 3.2 Drivers        
 3.3 Restraints       
 3.4 Opportunities       
 3.5 Threats        
 3.6 Application Analysis      
 3.7 End User Analysis       
 3.8 Emerging Markets       
 3.9 Impact of Covid-19       
          
4 Porters Five Force Analysis       
 4.1 Bargaining power of suppliers      
 4.2 Bargaining power of buyers      
 4.3 Threat of substitutes      
 4.4 Threat of new entrants      
 4.5 Competitive rivalry       
          
5 Global IO-Link Market, By Type      
 5.1 Introduction       
 5.2 IO-Link Wired       
 5.3 IO-Link Wireless        
          
6 Global IO-Link Market, By Component      
 6.1 Introduction       
 6.2 Actuators        
 6.3 IO-Link Master       
  6.3.1 Process Field Net (PROFINET)     
  6.3.2 EtherNet/ Internet Protocol (IP)    
  6.3.3 Modbus - Transmission Control Protocol (TCP)   
  6.3.4 Ethernet for Control Automation Technology (EtherCAT)  
  6.3.5 Multiprotocol      
 6.4 IO-Link Devices       
  6.4.1 Sensor Nodes      
   6.4.1.1 Position Sensor     
   6.4.1.2 Temperature Sensor    
   6.4.1.3 Pressure Sensor     
   6.4.1.4 Vibration Sensor     
 6.5 Modules        
 6.6 Radio-frequency Identification (RFID) Read Heads    
          
7 Global IO-Link Market, By Application      
 7.1 Introduction       
 7.2 Automation       
 7.3 Control Cabinets       
 7.4 Handling and Assembly Automation     
 7.5 Intralogistics       
 7.6 Machine Tool       
 7.7 Packaging       
          
8 Global IO-Link Market, By End User      
 8.1 Introduction       
 8.2 Process Industries        
  8.2.1 Oil and Gas      
  8.2.2 Chemicals      
  8.2.3 Energy and Power      
 8.3 Discrete Industries       
  8.3.1 Automotive      
  8.3.2 Aerospace and Defense     
  8.3.3 Semiconductors and Electronics    
  8.3.4 Machine Manufacturing      
  8.3.5 Packaging      
 8.4 Hybrid Industries       
  8.4.1 Pharmaceuticals      
  8.4.2 Metals and Mining      
  8.4.3 Food and Beverages     
  8.4.4 Cement and Glass      
          
9 Global IO-Link Market, By Geography      
 9.1 Introduction       
 9.2 North America       
  9.2.1 US       
  9.2.2 Canada       
  9.2.3 Mexico       
 9.3 Europe        
  9.3.1 Germany       
  9.3.2 UK       
  9.3.3 Italy       
  9.3.4 France       
  9.3.5 Spain       
  9.3.6 Rest of Europe      
 9.4 Asia Pacific       
  9.4.1 Japan       
  9.4.2 China       
  9.4.3 India       
  9.4.4 Australia       
  9.4.5 New Zealand      
  9.4.6 South Korea      
  9.4.7 Rest of Asia Pacific      
 9.5 South America       
  9.5.1 Argentina      
  9.5.2 Brazil       
  9.5.3 Chile       
  9.5.4 Rest of South America     
 9.6 Middle East & Africa      
  9.6.1 Saudi Arabia      
  9.6.2 UAE       
  9.6.3 Qatar       
  9.6.4 South Africa      
  9.6.5 Rest of Middle East & Africa     
          
10 Key Developments        
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures   
 10.2 Acquisitions & Mergers      
 10.3 New Product Launch      
 10.4 Expansions       
 10.5 Other Key Strategies      
          
11 Company Profiling        
 11.1 ABB        
 11.2 Aventics        
 11.3 Balluff GmbH       
 11.4 Baumer        
 11.5 Beckhoff Automation      
 11.6 Belden Inc       
 11.7 Bosch Rexroth AG       
 11.8 Datalogic        
 11.9 Festo SE & Co. KG       
 11.10 Hans Turck GmbH & Co. KG      
 11.11 ifm electronic GmbH      
 11.12 Omron Corporation       
 11.13 Pepperl+Fuchs       
 11.14 Rockwell Automation, Inc      
 11.15 SICK AG        
 11.16 Siemens        
 11.17 SMC Corporation       
 11.18 Turck        
 11.19 Weidmuller       
 11.20 Wenglor        


List of Tables         
1 Global IO-Link Market Outlook, By Region (2019-2028) ($MN)    
2 Global IO-Link Market Outlook, By Region Type (2019-2028) ($MN)   
3 Global IO-Link Market Outlook, By Region IO-Link Wired (2019-2028) ($MN)  
4 Global IO-Link Market Outlook, By Region IO-Link Wireless (2019-2028) ($MN)  
5 Global IO-Link Market Outlook, By Region Component (2019-2028) ($MN)  
6 Global IO-Link Market Outlook, By Region Actuators (2019-2028) ($MN)   
7 Global IO-Link Market Outlook, By Region IO-Link Master (2019-2028) ($MN)  
8 Global IO-Link Market Outlook, By Region Process Field Net (PROFINET) (2019-2028) ($MN) 
9 Global IO-Link Market Outlook, By Region EtherNet/ Internet Protocol (IP) (2019-2028) ($MN) 
10 Global IO-Link Market Outlook, By Region Modbus - Transmission Control Protocol (TCP) (2019-2028) ($MN)
11 Global IO-Link Market Outlook, By Region Ethernet for Control Automation Technology (EtherCAT) (2019-2028) ($MN)
12 Global IO-Link Market Outlook, By Region Multiprotocol (2019-2028) ($MN)  
13 Global IO-Link Market Outlook, By Region IO-Link Devices (2019-2028) ($MN)  
14 Global IO-Link Market Outlook, By Region Sensor Nodes (2019-2028) ($MN)  
15 Global IO-Link Market Outlook, By Region Modules (2019-2028) ($MN)   
16 Global IO-Link Market Outlook, By Region Radio-frequency Identification (RFID) Read Heads (2019-2028) ($MN)
17 Global IO-Link Market Outlook, By Region Application (2019-2028) ($MN)  
18 Global IO-Link Market Outlook, By Region Automation (2019-2028) ($MN)  
19 Global IO-Link Market Outlook, By Region Control Cabinets (2019-2028) ($MN)  
20 Global IO-Link Market Outlook, By Region Handling and Assembly Automation (2019-2028) ($MN)
21 Global IO-Link Market Outlook, By Region Intralogistics (2019-2028) ($MN)  
22 Global IO-Link Market Outlook, By Region Machine Tool (2019-2028) ($MN)  
23 Global IO-Link Market Outlook, By Region Packaging (2019-2028) ($MN)    
24 Global IO-Link Market Outlook, By Region End User (2019-2028) ($MN)   
25 Global IO-Link Market Outlook, By Region Process Industries (2019-2028) ($MN)  
26 Global IO-Link Market Outlook, By Region Oil and Gas (2019-2028) ($MN)   
27 Global IO-Link Market Outlook, By Region Chemicals (2019-2028) ($MN)   
28 Global IO-Link Market Outlook, By Region Energy and Power (2019-2028) ($MN)  
29 Global IO-Link Market Outlook, By Region Discrete Industries (2019-2028) ($MN)  
30 Global IO-Link Market Outlook, By Region Automotive (2019-2028) ($MN)  
31 Global IO-Link Market Outlook, By Region Aerospace and Defense (2019-2028) ($MN) 
32 Global IO-Link Market Outlook, By Region Semiconductors and Electronics (2019-2028) ($MN) 
33 Global IO-Link Market Outlook, By Region Machine Manufacturing (2019-2028) ($MN) 
34 Global IO-Link Market Outlook, By Region Packaging (2019-2028) ($MN)   
35 Global IO-Link Market Outlook, By Region Hybrid Industries (2019-2028) ($MN)  
36 Global IO-Link Market Outlook, By Region Pharmaceuticals (2019-2028) ($MN)  
37 Global IO-Link Market Outlook, By Region Metals and Mining (2019-2028) ($MN)  
38 Global IO-Link Market Outlook, By Region Food and Beverages (2019-2028) ($MN)  
39 Global IO-Link Market Outlook, By Region Cement and Glass (2019-2028) ($MN)  
          
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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