IO-Link Market Analysis

IO-Link Market Analysis

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Based on component, the IO-link master market size will record over 23% CAGR from 2023-2032. The growth can be attributed to their increasing usage as gateway in field applications for connecting up to eight IO link devices including valves, binary output, sensors, input modules. Furthermore, several versions of IO link master offer ports as supply auxiliary energy for connecting actuators of IO link and the B ports. The benefits of efficient functioning and high-quality performance will also drive the preference for IO link master

IO-link market share from electronic applications may surpass USD 16 billion by 2032 on account of the rising penetration of industry 4.0 in automation technology. IO-links offer digital data transfer as well as seamless communication from control to the sensor levels. In recent years, highly intelligent devices are largely employed with IO links in industrial automation. The rapidly growing electronics sector and the consequent need for industrial automation will anchor the industry development.

Europe IO-Link market size will observe more than 22% CAGR from 2023-2032 driven by the increasing production of motor vehicles, aerospace parts, and robots. Europe is home to a large number of major companies, mainly located in Germany, the U.K., and France. The ongoing developments in autonomous vehicles and advanced connected cars will also influence the deployment of IO link solutions in the region.