The global industrial I/O modules market is expected to grow by USD 1.79 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of about 5%.
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Technavio has announced its latest market research report titled Global Industrial I/O Modules Market 2020-2024 (Graphic: Business Wire)
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Read the 120-page report with TOC on “Industrial I/O Modules Market Analysis Report by Product (PLC I/O, DCS I/O, and Industrial PC I/O), End-user (Process industries and Discrete industries), Geography (Europe, APAC, North America, MEA, and South America), and the Segment Forecasts, 2020-2024”.
The market is driven by the developments in power grid projects. In addition, the emerging fuzzy logic modules in programmable controllers are anticipated to boost the growth of the industrial I/O modules market.
Globally, investments in smart grids have increased over the years. This is due to benefits offered by smart grids such as reduced aggregate technical and commercial (AT&C) losses and lower transformer failures. Besides, the International Energy Agency (IEA) has announced its plans to provide electricity access to the entire world by 2030. The project plan is estimated to cost USD 391 billion. Such developments are increasing the adoption of smart grids, which in turn, is driving the demand for industrial I/O modules.
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Major Five Industrial I/O Modules Companies:
ABB Ltd. operates its business through segments such as Electrification, Industrial Automation, Motion, Robotics & Discrete Automation, and Corporate and Other. The company offers S800 I/O, which is a comprehensive, distributed, and modular process I/O system, which communicates with parent controllers over industry-standard field buses.
Emerson Electric Co.
Emerson Electric Co. operates its business through segments such as Automation Solutions and Commercial and Residential Solutions. The company offers a wide range of industrial I/O modules. Some of its key offerings include Ovation I/O and Marine I/O and Fieldbus Modules.
General Electric Co.
General Electric Co. operates its business through segments such as Power, Renewable energy, Aviation, and Healthcare. The company offers RSTi-EP I/O Device. It features I/O slices that are just 11.5 millimeters wide, enabling it to fit into the most compact layouts, while remaining easy to access and use.
Mitsubishi Corp. operates its business through segments such as Global Environmental and Infrastructure Business Group, Industrial Finance, Logistics and Development Group, Energy Business Group, Metals Group, Machinery Group, Chemicals Group, and Living Essentials Group. The company offers WMELSEC-Q I/O Module. These I/O modules connect the control system to input and output devices. I/O modules are available in a variety of types and sizes to suit all system requirements.
Moxa Inc. operates its business through segments such as Industrial network infrastructure, Industrial edge connectivity, and Industrial computing. The company offers a wide range of I/O modules such as ioPAC 8500 Series (85M) Modules, ioPAC 8600 Series (86M) Modules, ioThinx 4500 Series (45MR) Modules, ioLogik 4000 Series (M) Modules, ioPAC 8020 Series (RM/KM) Modules, and others
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Industrial I/O Modules Market Product Outlook (Revenue, USD Billion, 2020-2024)
Industrial PC I/O
Industrial I/O Modules Market End-user Outlook (Revenue, USD Billion, 2020-2024)
Industrial I/O Modules Market Geography Outlook (Revenue, USD Billion, 2020-2024)
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