The Global IO Link Market is expected to rise from its initial estimated value of USD 2.46 billion in 2018 to an estimated value of USD 26.80 billion by 2026 registering a CAGR of 34.75% in the forecast period of 2019-2026. IO-Link is a short distance, bi-directional, digital, point-to-point, wired (or wireless), industrial communications networking standard (IEC 61131-9) used for connecting digital sensors and actuators to either a type of industrial fieldbus or a type of industrial Ethernet. IO Link is an industrial communication networking device that is used for interlinking sensors to a high level fieldbus or Ethernet communication protocol. It provides the data from these sensors that can be used for monitoring and hence, helps in optimizing the resources being utilized in the said industry.
Major Competitors Of Market :
Few of the major competitors currently working in the IO Link Market are Siemens AG, Balluff GmbH, ifm electronic gmbh, SICK AG, Rockwell Automation Inc., Festo AG & Co. KG., OMRON Corporation, Banner Engineering Corporation, Hans Turck GmbH & Co. KG, Pepperl+Fuchs, Datalogic S.p.A., Comtrol, Beckhoff Automation GmbH & Co. KG, Baumer, Bosch Rexroth AG, ABB, Belden Inc., AVENTICS GmbH, and Weidmüller Interface GmbH & Co. KG.
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The Research Is Segmented On The Basis Of :
- By Component, Component is further segmented into IO-Link Masters and IO-Link Devices. IO-Link Devices are Sensor Nodes, Modules, Actuators and Radio-Frequency Identification (RFID) Read Heads and Others.
- By Application, There are some applications such as Machine Tool, Handling and Assembly Automation, Packaging and Intralogistics.
- By Industry, Industry are used in Discrete, Hybrid and Process.
- By Geography, regions are North America, South America, Europe, Asia Pacific and Middle East and Africa.
IO Link Market report is a precise study of the ABC industry which explains what the market definition, classifications, applications, engagements, and global industry trends are. The IO Link Market report makes it effortless to identify the types of consumers, their response and views about particular products, their thoughts for the improvement of a product and appropriate method for the distribution of certain product. The report endows with the abundant insights and business solutions that will help you attain the new horizons of success. Well, for better decision making, sustainable growth, and maximum revenue generation today’s businesses call for such comprehensive market research report.
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