The global IO-link market value was US$ 6 billion in 2020. The global IO-link market value is forecast to reach US$ 74.06 billion by 2030, with a growing compound annual growth rate (CAGR) of 28% during the forecast period from 2021-2030.
Io-Link Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Io-Link Market , and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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IO-link is an open standard serial communication protocol that allows sensors and devices that support it and are connected to a master to exchange data bidirectionally. As an IO-link gateway, the masterworks can connect up to eight devices including, sensors, valves, or binary IO modules. IO-link masters can transmit data over various networks, field buses, or backplane buses, making the data available to an industry information system for immediate action or long-term analysis. IO-link sensors have IO device descriptions (IODD) that list their capabilities and describe their IO-link capabilities.
Factors Influencing Market Growth
IO-link market size is forecast to rise due to factors including the ability to support Fieldbus and Ethernet communication protocols at much higher levels and the surge in demand for Industry 4.0.
The awareness of the benefits of IO-link has led to an increase in automation. As a result, government initiatives toward the adoption of industrial automation drive growth in the IO-link market.
Consumption of compact machines is a significant obstacle to the growth of the IO-link market.
The continuous adoption of next-generation connected technologies like IoT, industrial robots, and cloud technologies is one of the major factors set to boost the market for IO-links during the forecast period.
The availability of cloud interfaces in IO-link and the release of safety specifications will boost the growth of global IO-link market revenue.
Impact Analysis of COVID-19
The COVID-19 pandemic has impacted players in the IO-link market significantly. The demand for IO-link solutions decreased dramatically as a result of the lockdown across all manufacturing plants, public places, and offices. Due to the lockdown imposed by various governments to contain the spread of COVID-19, the demand for electronic devices such as sensors, switches, and actuators has decreased significantly worldwide. This negatively impacted the market growth for IO-link.
As the automotive sector stabilizes, the latter half of the year should see normalization in inventory levels and increased demand for IO-link products. A slowdown in OEM production and a reduction in demand has slowed the growth of the global IO-link market. In addition, global supply chains have been affected by shortages of materials and components. Additionally, a reduction in various capital budgets and delays in planned projects in various industries have hindered the global economy.
In contrast, the rollout of vaccines across the globe, along with the decline of COVID-19 cases, particularly in North America and Europe, is forecast to boost the recoveries of the global IO-link market.
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The IO-link market in Europe is dominated by automotive, aerospace & defense, and industrial manufacturing verticals. A number of major economies are growing in this region, including the UK, Germany, and France, resulting in significant growth opportunities for the IO-link industry.
The leading prominent companies in the global IO-link market are:
Banner Engineering Corp.
Emerson Electric Co.
Hans Turck GmbH & Co. KG
Ifm electronic GmbH
Rockwell Automation, Inc.
Other Prominent Players
Scope of the Report
The global IO-link market segmentation focuses on Type, Component, Application, Industry Vertical, and Region.
Segmentation based on Type
Segmentation based on Component
RFID Read Heads
Segmentation based on Application
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Handling & Assembly Automation
Segmentation based on Industry Vertical
Oil & Gas
Energy & Power
Aerospace & Defense
Segmentation based on Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
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Key Questions Answered in the Market Report
• How did the COVID-19 pandemic impact the adoption of by various pharmaceutical and life sciences companies?
• What is the outlook for the impact market during the forecast period 2021-2030?
• What are the key trends influencing the impact market? How will they influence the market in short-, mid-, and long-term duration?
• What is the end user perception toward?
• How is the patent landscape for pharmaceutical quality? Which country/cluster witnessed the highest patent filing from January 2014-June 2021?
• What are the key factors impacting the impact market? What will be their impact in short-, mid-, and long-term duration?
• What are the key opportunities areas in the impact market? What is their potential in short-, mid-, and long-term duration?
• What are the key strategies adopted by companies in the impact market?
• What are the key application areas of the impact market? Which application is expected to hold the highest growth potential during the forecast period 2021-2030?
• What is the preferred deployment model for the impact? What is the growth potential of various deployment models present in the market?
• Who are the key end users of pharmaceutical quality? What is their respective share in the impact market?
• Which regional market is expected to hold the highest growth potential in the impact market during the forecast period 2021-2030?
• Which are the key players in the impact market?
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