Global I/O-Link Market Extends Its Reach

As per Future Market Insights (FMI) recent study, global I/O link market revenues surpassed $3.5 billion in 2018 and are expected to grow at 12.2% y-o-y in 2019. Key factors responsible for market growth include:

  • Rapidly growing industrial communication space with industrial IoT
  • Increasing industrial adoption of Ethernet solutions over Fieldbus
  • Government initiatives to promote industrial automation and rapid implementation of Industry 4.0
  • Consistent efforts to reduce time and cost involved in I/O link development

 

Other Study Highlights

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  • I/O link system penetration in the medical industry is growing at a considerable rate as the industry is rapidly adopting automation technologies to break through limitations.
  • Semiconductor and electronics industries are witnessing significant penetration of I/O link systems and accounted for over one-third share of the global I/O link market revenues generated in 2018.
  • Increasing adoption of I/O link systems in the automotive industry garnered the second largest revenues in the I/O link market in 2018.
  • I/O Link devices accounted for over half the revenues in 2018.
  • In 2018, I/O link devices held over 56% of global revenues, equaling turnover of nearly US$ 2 billion, whereas I/O link masters held remaining share in the I/O link market.
  • Penetration of I/O link systems in the handling assembly automation remains higher, the application held over 28% of the global revenues in 2018.
  • Intralogistics is the second largest revenue stream for the I/O link system owing to automation-based activities in goods maintenance. The I/O link market is projected to grow at the highest rate in the packaging application as the industry has witnessed greater penetration of automation and associated overall operational output.  

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