The Global IO-Link Market Size Is Expected To Reach $74.08 Billion By 2030 From $6.10 Billion In 2022, Growing At A CAGR Of 29.0% From 2022 To 2030.

IO-Link Market Overview:

The ability to maintain higher standards of Fieldbus and Ethernet communication protocols, growing demand for digital transformation, and rising government initiatives towards industrial automation adoption are expected to propel the growth of the global IO-Link market. Moreover, since the start of the government's Make in India initiative, the trend toward automation has become more widespread as knowledge of the benefits associated with IO-link has increased. Automation is gaining popularity in manufacturing businesses as it helps increase operational efficiency, profit margins, speed, and reliability. Industrial automation has seen a surge in IO-Link systems in recent years. In today's competitive environment, businesses are starting to embrace advanced automation technologies to increase operational efficiency and commercial success.

So, recent changes in the industrial Internet of Things setting are likely to drive the growth of the global
IO-Link market over the next few years. Each business, like automotive, aerospace, semiconductors and
electronics, machinery manufacturing, packaging, and medical equipment, follows strict manufacturing
codes and works on lowering running costs. So, industrial technology and the Internet of Things help
them run their businesses. (IoT). Also, these businesses put a lot of effort into making machines work
better so they can meet the wants of more and more customers. IO-Link can help cut down on
production costs, set-up time, the number of network nodes, and machine or system failure. Because of
this, IO-Link is likely to be used more in different fields.

Key Market Updates:

• In March 2021, Balluff GmbH launched a self-monitoring sensor that provides real-time internal environmental data including temperature monitoring, relative humidity, tilt detection and vibration monitoring. The sensor's signal quality is displayed on the sensor's LED, and operating time and time functions are available using IO-Link.
• February 2021 Rockwell Automation, Inc. GuardShield 450L light curtain with Common Industrial Protocol (CIP) Safety over EtherNet/IP plug-in protects workers from injuries associated with unsafe machine operation. The CIP Safety plug-in gives users more access to diagnostic data to increase productivity and flexibility.

Major Market Segments Covered in IO-Link Market Industry Research:

• Siemens
• Hans Turck GmbH & Co. KG
• Balluff GmbH
• ifm electronic GmbH
• SICK AG
• Rockwell Automation Inc.
• Omron Corporation
• Pepperl+Fuchs
• Banner Engineering Corp.
• Emerson Electric Co.

Key Vendors:

1. Siemens: It is a company that makes technology for business, transportation, healthcare, and
building structures. The company makes technology that has a purpose and gives users real value, like factories that use less energy and materials, more reliable supply lines, smarter buildings and grids,cleaner and more comfortable transportation, and better health care. Siemens gives its customers the power to change their businesses and markets, which in turn helps them change the way billions of people live their everyday lives. Siemens also owns most of Siemens Healthineers, a publicly owned company that is a world leader in medical technology and is shaping the future of healthcare.   

2.Ifm electronic GmbH: First company to work in digitalization technology and automation. Then, it turned into a plan that worked. When it comes to automation and digitalization technology that is ahead of the curve, the ifm group is the best partner. As one of the first companies to work on Industry 4.0, ifm
makes and applies consistent solutions to digitalize the whole value chain, from sensors to enterprise
resource planning (ERP).  

3.AG SICK: In areas like factory automation, transportation automation, and process automation, SICK's
sensor technologies keep industry moving. As a star in both technology and the market, SICK provides
sensor intelligence and application solutions that make it easy to run processes safely and efficiently,
protect people from accidents, and keep the environment from getting damaged.

4. Rockwell Automation: we connect what people want to do with what technology can do. This lets people do more. The world becomes smarter, better linked, and more efficient because of this. Our Allen-Bradley® and Rockwell Software® brands are known all over the world for being new and well made.

5.Omron Corporation: It is one of the best companies in the robotics field. It stands out from other
companies in the field because its core technology is called "Sensing & Control + Think." The company
does a lot of different things, like making control equipment, electronic parts, social processes and
health care.

By Type:

• IO-link Wired
• IO-link Wir eless

By Component:

• IO-link Master
• IO-link Devices
• Sensor Nodes
• Modules
• Actuators
• RFID Read Heads
• Others

By Application:

• Machine Tool
• Handling & Assembly Automation
• Intralogistics
• Packaging

By Industry Vertical:

• Oil & Gas
• Energy & Power
• Automotive
• Aerospace & Defense
• Pharmaceuticals
• Food & Beverages
• Chemicals
• Others

By Region:

North America is expected to be the largest market in terms of revenue. The region is seeing a growing demand for automation solutions in various industrial applications such as machine tools, assembly lines and packaging. Europe is expected to witness modest growth over the forecast period. The region is benefiting from the growing adoption of IoT-based solutions in industries such as automotive and healthcare. Latin America is expected to grow at a slower pace than other regions due to the high penetration of automation solutions in the region. However, the growing demand for IoT-based solutions in various industrial applications is expected to drive the regional market growth over the forecast period. Middle East & Africa is expected to witness the highest growth rate during the forecast period. The region is seeing a growing demand for automation solutions in various industrial applications such as machine tools, assembly lines and packaging. This can be attributed to increased investments by major companies in the region, such as Samsung and Siemens.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Driver:

Industry 4.0 aims to fully integrate the communication processes used in manufacturing to improve the efficiency of factories and transform them into smart factories. This is achieved through the deployment of the Industrial Internet of Things (IIoT), industrial automation, data exchange and smart field devices. The benefits of Industry 4.0 and IIoT include the integration of IO-Link solutions with full industrial automation systems, easy sensor replacement, elimination of manual parameter settings, continuous data monitoring and condition diagnostics, and increased uptime.

Restraint:

IO-Link solutions help reduce cabling and wiring in industrial machinery. The manufacturing industry demands compact and reliable solutions for operational processes. This requires small machines on the factory floor. In addition to being small, these compact machines consume less power and offer better performance than other industrial solutions. Also, wiring on small machines is already short. In these cases, deploying an IO-Link solution is more expensive for industry participants. Additionally, these machines are efficient and require less space than conventional machines and other industry solutions. Therefore, the use of small machines for industrial automation is a key obstacle to the growth of the IO-Link market.

Opportunity:

A minor downtime can result in huge losses for manufacturing units in the automotive industry. Defects can disrupt the entire production process. IO-Link devices are used to eliminate this downtime, improve products and production processes, and ensure regular preventive maintenance. The IO-Link master has been developed according to AIDA specifications for the automotive industry and offers enhanced performance. The automation initiative of the German domestic automobile manufacturer (AIDA) has defined standards for IO-Link masters used in the automotive industry. According to this standard, an L-coded power connection with functional earth is used for all field modules. Vertical integration of automation for the automotive industry includes support for EtherCAT and EtherNet/IP. IO-Link products are also used for seamless integration with the controller. The automotive industry is therefore expected to create tremendous opportunities for IO-Link ecosystem players in the near future.

Challenge:

IO-Link solutions are vulnerable to threats such as cross-site request forgery (CSRF), reflected cross-site scripting (XSS), blind command injection, and denial of service (DoS) issues. Additionally, other risks associated with IO-Link include spear phishing, watering holes, and database injection. In a phishing attack, digital criminals can steal data from your device by tricking you into sharing an application's security key. Cyber risks threaten industrial automation and control systems (IACS). However, cybersecurity measures are in place to protect IACS from these risks. These attacks threaten the manufacturing industry and are used to gain financial gain or valuable business information. These risks originate from the web, corporate systems, programming checks and unauthorized access.

Scope of report :