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.  

Need more revelations and stats? Then checkout a sample of the FMI report.


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