As per Future Market Insights (FMI) recent study, global I/O link market revenues surpassed $3.5 billion in 2018 and are expected to grow at 12.2% y-o-y in 2019. Key factors responsible for market growth include:
- Rapidly growing industrial communication space with industrial IoT
- Increasing industrial adoption of Ethernet solutions over Fieldbus
- Government initiatives to promote industrial automation and rapid implementation of Industry 4.0
- Consistent efforts to reduce time and cost involved in I/O link development
Other Study Highlights
- I/O link system penetration in the medical industry is growing at a considerable rate as the industry is rapidly adopting automation technologies to break through limitations.
- Semiconductor and electronics industries are witnessing significant penetration of I/O link systems and accounted for over one-third share of the global I/O link market revenues generated in 2018.
- Increasing adoption of I/O link systems in the automotive industry garnered the second largest revenues in the I/O link market in 2018.
- I/O Link devices accounted for over half the revenues in 2018.
- In 2018, I/O link devices held over 56% of global revenues, equaling turnover of nearly US$ 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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