NEW YORK, Jan. 19, 2022 /PRNewswire/ -- According to the
research report "Industrial I/O Modules Market by Product,
End-user, and Geography - Forecast and Analysis 2021-2025", the
market will witness a YOY growth of 5.49% in 2021 at a CAGR of over
6% during the forecast period. The report is segmented by
product (PLC I/O, DCS I/O, and industrial PC I/O), end-user
(process industries and discrete industries), and geography
(Europe, APAC, North America, MEA, and South America).
For more insights on YOY and CAGR, Read our
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Vendor Insights
The global industrial I/O modules market is fragmented and the
vendors are deploying various organic and inorganic growth
strategies to compete in the market. Vendors are focusing on
new product launches and forming strategic alliances or acquiring
smaller players to remain competitive in the market.
The report analyzes the market's competitive landscape and
offers information on several market vendors, including:
- ABB Ltd.
- Emerson Electric Co.
- General Electric Co.
- Mitsubishi Corp.
- Moxa Inc.
- OMRON Corp.
- Pepperl+Fuchs AG
- Rockwell Automation Inc.
- Siemens AG
- TE Connectivity Ltd.
- Yale University
Find additional highlights on the growth strategies
adopted by vendors and their product
offerings, Read Free Sample
Report.
Geographical Market Analysis
APAC will provide maximum growth opportunities in industrial I/O
modules market during the forecast period. According to our
research report, the region will contribute to 32% of the global
market growth and is expected to dominate the market through
2025. APAC will generate growth across all the years of the
forecast period between 2020 and 2025.
China and Japan are the two major markets for industrial
I/O modules in APAC. Factors such as the advent of new projects in
the renewable energy space, growing demand for electricity, and
increasing population are driving the growth of the industrial I/O
modules market in APAC. Also, the proliferation of foreign
companies and the high sales of automobiles will contribute to the
growth of the regional market.
On the other hand, MEA will emerge as the fastest-growing region
of the industrial I/O modules market. The growth can be attributed
to increasing investments in the oil and gas sector and rising
R&D activities. Moreover, rapid urbanization and industrial and
infrastructural growth, and the increasing number of high-net-worth
individuals (HNWIs) will foster the growth of the industrial I/O
modules market in MEA during the forecast period.
Furthermore, countries such as the US, Germany, and the UK are expected to emerge as
prominent markets for industrial IO modules during the forecast
period.
Know more about this market's geographical distribution
along with the detailed analysis of the top
regions. www.technavio.com/report/industrial-i-o-modules-market-industry-analysis
Key Segment Analysis
By product, the industrial I/O modules market share growth by
the PLC I/O segment will be significant during the forecast period.
The segment will continue to offer several growth opportunities for
market players. Similarly, by end-users, the process industries
will exhibit maximum demand in the market.
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additional highlights and key points on various market segments and
their impact in coming years.
Key Market Drivers & Challenges:
The industrial I/O modules market is primarily driven by the
continued developments in power grid projects. Smart grids offer
several benefits over traditional grids. They limit technical and
commercial (AT&C) losses, reduce the number of transformer
failures, and lower the need for purchasing high-cost power at peak
hours. Many such benefits are attracting significant investments in
the development of smart grid projects globally. For instance, in
February 2021, the Power Grid
Corporation of India announced
that its board of directors had approved investment proposals worth
USD 455.39 million in the country.
Thus, increasing developments in power grid projects is expected to
drive the growth of the global industrial I/O modules market during
the forecast period.
The presence of counterfeit I/O devices will challenge the
growth of the market. The availability of low-cost labor and
availability of abundant resources have enabled low-cost Asian
companies to manufacture industrial I/O modules at a significantly
lower price than that of their American and European counterparts.
These factors will reduce the growth potential in the market.
Download free sample for highlights on
market Drivers & Challenges affecting the Industrial I/O
modules market.
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Industrial I/O
Modules Market Scope
|
Report
Coverage
|
Details
|
Page
number
|
120
|
Base
year
|
2020
|
Forecast
period
|
2021-2025
|
Growth momentum
& CAGR
|
Accelerate at a CAGR
of over 6%
|
Market growth
2021-2025
|
USD 2.33
billion
|
Market
structure
|
Fragmented
|
YoY growth
(%)
|
5.49
|
Regional
analysis
|
Europe, APAC, North
America, MEA, and South America
|
Performing market
contribution
|
APAC at
32%
|
Key consumer
countries
|
US, China, Germany,
Japan, and UK
|
Competitive
landscape
|
Leading companies,
competitive strategies, consumer engagement scope
|
Companies
profiled
|
ABB Ltd., Emerson
Electric Co., General Electric Co., Mitsubishi Corp., Moxa Inc.,
OMRON Corp., Pepperl+Fuchs AG, Rockwell Automation Inc., Siemens
AG, and TE Connectivity Ltd.
|
Market
Dynamics
|
Parent market
analysis, Market growth inducers and obstacles, Fast-growing and
slow-growing segment analysis, COVID-19 impact and future consumer
dynamics, market condition analysis for the forecast
period.
|
Customization
purview
|
If our report has not
included the data that you are looking for, you can reach out to
our analysts and get segments customized.
|
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SOURCE Technavio