The communications interface market is expected to reach at US$ 10,388.04 million by 2028; registering at a CAGR of 8.9% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
The increasing adoption of technologies across industries and growing awareness regarding its benefits among small & medium factories across North America are driving the adoption of automation. North America has become a pioneer in adopting advanced technologies over the last decade. The increasing adoption of automation in the North American industrial sector is reducing manufacturing and assembling time and overall year-on-year operation costs.
Communications Interface Market Share – by Region, 2021
Communications Interface Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (1-Port, 2-Port, and Others), Mode of Communication [Wired (Ethernet, USB, RS-232/RS-485, and Others) and Wireless & Hybrid], and Application (Industrial Monitoring, Battery Monitoring System, Remote Sensors Communication, Railway Signaling System, Machine to Machine Communication, and Others)
Communication Interface Market Size, Share | Report 2022, 2028
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In North America, robots are the most-widely adopted automation technology across the US and Canada. According to the Association of Advancing Automation (A3), the US alone procured almost 29,000 robots from January to September 2021, showcasing an increase of 37% compared to the same period in 2020. In North America, the increasing adoption of robots across industries such as plastic & rubber, automotive, food & consumer goods, and metals is directly impacting the demand for Distributed Control System (DCS) and Programmable Logic Controllers (PLC). PLCs and DCS are integrated into robots for constant processing and monitoring of information received by robots in devices or sensors. It then enables the robot to function as per the task orders. Communication interface forms and integral part of PLCs and DCS for processing of received information and transferring the same for desired output. Thus, the rising demand for PLCs and DCS is bolstering the demand for communication interfaces across North America.
Gauging Systems Inc, Honeywell International Inc, Parker Hannifin Corp, and Rockwell Automation Inc are a few communications interface market players in North America. The communications interface market players have a wide product offering and a strong distribution network, which is propelling the communications interface market growth in the region.
Impact of COVID-19 Pandemic on Communications Interface Market
The impact of COVID-19 pandemic differed from country to country across Europe as selected countries experienced an increase in the number of COVID-19 cases and subsequently imposed strict and extended lockdown. The communications interface market in Europe experienced a slight decline in the first three quarters of 2020. Disruptions caused by the pandemic led most enterprises to change their functioning pattern. Multinational enterprises were severely hampered as the pandemic impact was different in each European country. Several communications interface vendors witnessed decreased customer spending, resulting in lower revenue generation. The COVID-19 outbreak significantly impacted the operations of ABB Ltd, which led to an increase in backlog orders in 2020.
Post the lifting of travel restrictions and reopening of businesses, there had been a sudden rise in demand for industrial automation solutions. The outlook post pandemic for the communications interface industry seems favorable for all regional vendors. Europe has always been at the forefront of accepting new technologies, and post COVID-19 pandemic, the adoption of Industry 5.0 is expected to propel the demand for communications interfaces across the region.
The communications interface market in Canada is expected to grow at the highest CAGR in North America. Increasing government initiatives to promote the adoption of automation across Canada’s manufacturing sector is influencing the demand for connected and smart devices. In February 2019, the federal government of Canada announced a bid of US$ 230 million to promote automation across Ontario’s manufacturing industry. Over the years, the country has also experienced a rise in investment in setting up manufacturing plants. In March 2022, General Motors announced the opening of its new electric vehicle manufacturing plant in Ontario in partnership with Quebec. These factors are propelling the demand for advanced technologies and devices, which, in turn, is driving the communications interface market growth across the country.
The global communications interface market size is segmented on the basis of product, mode of communication, application, and geography. Based on product, the market is segmented into 1-Port, 2-Port, and others. Based on mode of communication, the market is bifurcated into wired and wireless & hybrid. Based on application, the communications interface market is segmented into industrial networking, battery monitoring system, remote sensors communication, railway signalling system, machine to machine communication, and others. Based on geography, the communications interface market size is segmented into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).
ABB Ltd., Eaton Corp Plc, Honeywell International Inc, Omron Corp, and Rockwell Automation Inc. are a few key players operating in the communications interface market. During this study, several major market players were analyzed to get a holistic view of the global market and its ecosystem.
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