Advances in industrial communication systems have garnered momentum over the past few years on account of growing implementation of industry 4.0 technologies. Numerous businesses are adopting next-generation industrial technologies such as additive manufacturing and industrial internet of things (IIoT). These enterprises are also focusing on incorporating new business models into their assembly lines to further improve operational efficiency.

Robust sensing capabilities and seamless connectivity will play a crucial role in automation, remote monitoring, and control of IIoT systems. In August 2020, PCTEL had expanded its IIoT portfolio with the addition a new wireless communication sensor platform. 

One of the most lucrative verticals within the electronics and media sector, global industrial communication market size is estimated to surpass an annual valuation of more than US$160 billion by 2025. Explained below are a few major trends influencing the future developments in the industry.

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• Need for reliable and seamless connectivity protocols

Fieldbus protocols such as Modbus, CC-Link, PROFIBUS are experiencing a rapid adoption across process-oriented applications. Fieldbus protocol segment accounted for more than 49% revenue share of industrial communication market in 2018. These protocols have the ability to seamlessly integrate digital input and output devices as well as discrete motion control components such as analyzers belonging to third-party solutions providers.

Meanwhile, ethernet segment is projected to grow at a CAGR of 12% through 2025. The technology serves as a cost-effective solution for many small and medium size industries. An increasing need for reliable and seamless connectivity protocols that can integrate legacy systems with new and advanced communication devices will bolster industrial communication industry outlook.

• Hardware components to witness a robust demand

Hardware components used in industrial communication systems include switches, routers, communication interface devices, and controllers. Switches are expected to capture more than 25% revenue share of industrial communication industry by 2025. Switches play a central role in the overall functioning of the network infrastructure for seamless implementation of new connectivity-enabled strategies. Recent technological developments in switches have enhanced their ability to function in harsh environments. 

On the other hand, the demand for software services is expected to grow at a CAGR of 10% through 2025. Installation and maintenance software services help in maintaining a reliable and efficient communication architecture among businesses. The upgradation of a communication infrastructure requires the integration of software as well as hardware components that require robust technical expertise in order to ensure long-term stability of the network.

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• Growing use in automotive and transportation sector

In terms of the application, automotive and transportation sector accounted for more than 25% revenue share of industrial communication market in 2018. Automakers have been implementing advanced automation, communication, and data exchange technologies into assembly lines for mass production. The need to achieve higher production volumes within short timeframes is likely to fuel the adoption of industrial communication systems in automotive and transportation sector.

The demand for industrial communication solutions across the aerospace sector is estimated to grow at an 11% CAGR through 2025. Majority of aerospace OEMs are embracing new communication technologies as a cost reduction of just 1% represents savings worth billions of dollars. 

• Rapid industrial development in Asia Pacific

Europe held more than 37% revenue share of industrial communication industry in 2018 and is expected to witness notable growth in the upcoming years. European countries have been making heavy investments in industry 4.0 technologies for modernization of existing infrastructure. In fact, Europe accounts for over a third of global investments in IIoT and industry 4.0 initiatives.

Asia Pacific industrial communication market size is slated to witness a CAGR of 12% CAGR through 2025. The regional growth can be attributed to rapid industrial developments in Indonesia, China, and India. The introduction of supportive government initiatives and the availability of cost-effective labor will complement the regional industrial communication industry outlook.

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