Industrial Communication Market With Covid-19 - Global Forecast To 2025

By Author: Steve Stark
Total Articles: 138
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The industrial communication market is estimated to be valued at USD 17.3 billion in 2020 and is projected to reach USD 23.5 billion by 2025, at a CAGR of 6.3%. This estimation factors in the impact of the COVID-19 pandemic on the market. The major driving factors are growing need for scalable, faster, reliable, and interoperable communication protocols. Increase in use of digital twin to safely monitor smart manufacturing operations is also expected to drive the industrial communication market growth during the forecast period. The persistent rise in machine-to-machine communication is another key factor that is expected to propel the growth of the market.

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Drivers: Growing need for scalable, faster, reliable, and interoperable communication protocols

Industrial Ethernet is important for achieving complete transparency within an industrial plant, as well as between the plant and enterprise networks. A reliable communication network is the core of the Industry 4.0 concept. Both industrial automation and industrial ...
... communication networks are closely dependent on real-time operational needs. Hence, they must be able to handle information in a deterministic and redundant method. The networks must be scalable across a wide range of equipment operating on multiple different standards with a variety of interfaces. A factory system should be capable of offering faster response times, better efficiency, and greater reliability. To achieve these benefits, designers must select the best communication technology, navigate a multiprotocol environment, and cover a wide range of industrial equipment. Therefore, the need for scalable and interoperable protocols is driving industry initiatives to develop a newer set of communication products.

Increasing use of digital twin to safely monitor smart manufacturing operations

A digital twin is a virtual model of a product, process, or service. The actual product, process, or service pairs with the virtual model, allowing data analysis of the product or operation, remote monitoring of the system, and prevention of downtime. The COVID-19 crisis has brought most of the manufacturing activities to a halt. There have been disruptions in supply chains of industries, and global production has dropped considerably. For the companies using digital twin solutions, the monitoring of the bare minimum operations and manufacturing activities, wherever they have resumed with limitations, will become a driving factor for digital twins in smart manufacturing. Using a digital twin, data analysis and monitoring could be done remotely and safely from home with the help of the Internet of Things.

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Increasing machine-to-machine communication

Better connectivity for smooth communication and low power requirements are the key reasons for the increased adoption of new machine-to-machine (M2M) technologies. To achieve effective M2M communication, the existing capacity of mobile networks must be able to handle billions of nodes that are expected to be deployed in the next couple of years. Currently, the network capacity is not capable of handling M2M and human-based communications, as well as their different communication patterns, including latency time. For this reason, a next-level cellular network for mobile communication, featuring hyper-connectivity and larger bandwidth (e.g., 5G), is required. The M2M communication technology will be widely used in the coming years in heavy manufacturing industries and process industries (e.g., food industry) to increase the efficiency of different processes and reduce human intervention for machines.

APAC to have highest CAGR in industrial communication market during forecast period

APAC is a leading industrial hub for several industries, including automotive, electrical, and electronics. It is also the largest automobiles producer in the world. In APAC, countries such as China, India, and South Korea are the leading manufacturers of consumer electronics devices, including smartphones, laptops, and gaming consoles. The large-scale development exhibited by the emerging economies in this region with the use of advanced technologies for manufacturing is contributing to the growth of the industrial communication market.

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