The rapid developments in the field of science and technology are expected to aid the expansion of the global industrial communication market over the forecast period. Industrial communication systems allow us to integrate data networks that are highly futuristic.
The report includes key information about the major trends, restraints, growth drivers, and opportunities in the global industrial communication market. The market forecasts, supply and demand ratio, Porter’s five force analysis, value chain analysis, and key segments of the market are discussed in the report.
The report also reveals the prominent recent developments in the competitive landscape, the market shares held by the major firms, and the business strategies adopted by them.
Increasing adoption of IoT, growing need for interconnectivity between various devices and sharing of data, necessity of increasing safety and productivity are some of the key growth drivers of the global industrial communication market.
The increased adoption of the IoT is likely to make considerable changes in the way different products are manufactured, developed, transported, and distributed. Growing number of end-user industries such as aerospace, transportation and automotive, defense, paper, cement, electrical and electronics, energy and power, pharmaceutical, oil and gas, food and beverages, mining, glass, fabrication or engineering, water and wastewater, and chemicals and fertilizers will benefit the market for industrial communication.
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The key communication protocols such as industrial Ethernet, wireless communication, and Fieldbus can be the major segments of the industrial communication market. Of these, the Fieldbus protocol appears to present significant prospects, owing to its widespread adoption in key process industries.
Fieldbus has a strong hold particularly in the emerging economies such as India, Japan, and China. It is likely to present extensive opportunities as they are able to integrate with wireless devices, increasing the level of efficiency.