Industrial I/O Modules Market size to grow by USD 2.33 billion | Market research insights highlight continued developments in power grid projects as key driver | Technavio

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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).

Attractive Opportunities in Industrial IO Modules Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025
Attractive Opportunities in Industrial IO Modules Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

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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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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.

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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.

About Us:

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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