The IO-link market holds high potential in the industrial sector. The current business scenario experiences rapid development in smart infrastructure, particularly in the developed and developing regions such as North America, Asia-Pacific, and Europe. Companies in this industry adopt various innovative techniques to provide customers with advanced and innovative features.  

According to a new report published by Allied Market Research, titled, “IO-link Market by Type, Component, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the global IO-link market size was valued at $6.10 billion in 2020, and is projected to reach $74.08 billion by 2030, registering a CAGR of 29.0%. Europe is expected to be the leading contributor to the global market during the forecast period, followed by Asia-Pacific and North America.     

The key factors such as ability to support much higher level Fieldbus and Ethernet communication protocols, rise in penetration of Industry 4.0, and government initiatives toward the adoption of industrial automation drive the IO-Link market growth contribute toward the growth of the global IO-link market. Europe held the largest share of the IO-link market, owing to the presence of automotive, aerospace & defense, and industrial manufacturing verticals in the region. Moreover, the region comprises major growing economies, such as the UK, Germany, and France, which offer significant growth opportunities for the IO-link market.

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Key Benefits for Stakeholders

  • This study comprises analytical depiction of the global IO-link market outlook along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall IO-link market analysis is determined to understand the profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis. 
  • The current IO-link market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency
  • Porter’s five forces analysis illustrates the potency of the buyers and the IO-link market share of key vendors.  
  • The report includes the market trends and the revenue share of key vendors.

Key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launch, agreement, collaboration, and partnership are expected to be the prominent strategies adopted by the market players. The key players profiled in the report include Siemens (Germany), Hans Turck GmbH & Co. KG (Germany), Balluff GmbH (Germany), ifm electronic GmbH (Germany), SICK AG (Germany), Rockwell Automation, Inc. (U.S.), Omron Corporation (Japan), Pepperl+Fuchs (Germany), Banner Engineering Corp (U.S.), and Emerson Electric Co. (U.S.).

Key Findings of the Study

  • In 2020, the IO-link wired segment accounted for the maximum revenue, and is projected to grow at a notable CAGR of 23.30% during the forecast period.
  • The IO-link devices segment accounted for more than 70% of the global IO-link market share in 2020.  
  • The IO-link wireless segment witness highest growth rate during the forecast period.
  • UK was the major shareholder in the Europe IO-link market revenue, accounting for approximately 26% share in 2020.

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