Industrial Communication Market Size

Industrial Communication Market Size

Industrial Communication Market size estimated at over USD 80 billion in 2018 and is anticipated to grow at a CAGR of more than 10% from 2019 to 2025.

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The industrial communication market is driven by the widespread adoption of Industry 4.0 revolution. The industry sectors are going through a phase of digital disruption. The industries are leveraging on advanced technologies and machines, such as Industrial IoT, automated machines, additive manufacturing, along with advanced materials to modify their business models and gain operational efficiency. This is enabling organizations to develop smart supply chain, better manufacturing process, and an efficient end-to-end ecosystem. The rising need among the industry verticals to reduce the cost of operation & increase efficiency is the primary factor augmenting the demand for automation.

The growing adoption of advanced communication protocols among industries also acts as a major driver for the industrial communication market. As digitalization among industries is increasing, the need for effective communication technology also arises. The previous communication protocols were series-based protocols that could not cope up with the explosion of digital data and latency-sensitive application. To address these challenges, organization are shifting toward more advanced and flexible industrial ethernet protocols. The ethernet protocols work on Modified Access Control (MAC) layer to provide low deterministic and latency responses. The protocols also provide a flexible number of nodes and flexible network topology in the system, making them an ideal solution for industrial communication application.

However, data safety and security issues associated with wireless communication technology and industrial ethernet protocols are restricting their adoption among industrial facilities. Moreover, the presence of traditional communication technology and harsh industrial environment also hinders growth of the industrial communication market.