Industrial I/O Modules Market is segmented by Product (Programmable Logic Controller I/O (PLC I/O), Distributed Control System I/O (DCS I/O), and Industrial PC I/O), and by End-user (Process Industry and Discrete Industry), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Industrial I/O Modules Market size shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
The Industrial Input/output modules provide a means of sending information between internal storage and external I/O devices. It is a part of a control system in which a PLC receives an input signal or produces an output signal. The input/output module (I/O module) is typically connected to at least one input/output on one end and the computer system on the other. Generally, it is possible for an I/O module to control one or more peripheral devices.
Industrial I/O modules are used in different applications in industries such as the steel industry, chemical industry, automobile industry, and the energy sector. They receive information from input devices such as proximity, pressure, temperature sensors, and then push buttons, and control actuators such as valves, lamps, and relays (output devices.). After the I/O modules collect the required data, it sends it straight to the controller.
Industrial I/O modules are devices related to field devices such as drives, actuators, and sensors with controllers distributed control systems (DCS), and industrial PCs, and programmable logic controllers (PLC).
Industrial I/O Modules Market Growth and Trends
Driving factors for the industry :
• Rapidly growing developments in power grid projects across the world has prompted the growth of the industrial I/O modules market in power generation, distribution, and transmission.
• Several benefits are associated with usage of smart grids. These include reduced number of transformer failures, and management of peak load and outage. These benefits encourage the deployment of industrial I/O modules in the existing systems.
• Emergence of fuzzy logic modules in programmable controllers is another key trend driving the growth of the industrial I/O modules market. Fuzzy logic modules help to bridge the gap between analogue and discrete decision making functions of PLCs (programmable logic controllers). Thus, fuzzy logic modules are increasingly being adopted by end-users as a critical part of modern programmable controllers. Therefore, PLCs incorporated with fuzzy logic modules encourage the systems to acknowledge temperature readings within a specific range.
• Numerous controllers with fuzzy logic modules have independent interface ports enabling them to communicate with the procedure through the PLCs input/output ports. This is further expected to contribute to the development of the industrial I/O modules market throughout the forecast period.
• In addition, adoption of wireless I/O modules is expected to gain traction in the coming years and thus drive the growth of the industrial I/O modules market.
• However, fluctuation in prices of raw material used for making I/O modules is expected to hinder the adoption rate of industrial I/O modules. Raw material price volatility causes reluctance among companies to adopt I/O modules, thereby hindering the industrial I/O modules market.
• Growing adoption of industrial I/O modules across numerous industries such as heavy machinery, manufacturing, automotive, and oil and gas is one of the key factors driving the demand for industrial I/O modules, thereby encouraging the growth of the market in the coming years.
• These vendors focus on advanced technologies to offer a wide product portfolio to meet the changing needs of end-users, creating a competitive environment in the industrial I/O modules market.
• Due to regional focus, technological developments, and other factors, ARC expects this trend to continue over the next five years.
• The increasing demand for safety IO modules is a direct consequence of the increase in the number of hazardous areas. Rising frequency of accidents in these hazardous areas has led to the establishment of industrial regulatory standards, which drove the demand for safety infrastructure in the market, thereby, steering the market growth.
• The automotive industry is experiencing a paradigm shift with increasing integration of technology. The autonomous car technology is rapidly advancing with companies investing heavily in this technology. The demand for electric cars is also growing, with companies introducing affordable electric vehicles.
• This is expected to result in higher demand for automobiles, pushing companies to up their manufacturing capabilities, and establish plants.
• As safety IO models offer increased reliability and safety without compromising on the operational efficiency, the industry is moving towards safety IO systems. Thus, the automotive industry is expected to be the fastest growing market for safety IO modules, during the forecast period.
• Increasing the adoption of industrial I/O modules in power generation, distribution, and transmission is triggering the growth of the industrial I/O modules market. Various benefits associated with the usage of I/O modules such as it reduced the number of transformer failures, and management of peak load and outage which encourage the deployment of industrial I/O modules in the existing systems, thus propelling the growth of the market. Moreover, the adoption of wireless I/O modules is gaining traction which expected to fuel the industrial I/O modules market growth
Challenges for the industry :
• On the contrary, lack of awareness about the robust and reliable IO modules has been a challenge hindering the market growth in the recent past.
Industrial I/O Modules Market Regional Analysis
Industrial I/O Modules Market Share and Competition
Key companies operating in this industry are: ABB, Emerson Electric Co., General Electric Company, Mitsubishi Electric Corporation, Rockwell Automation, Inc., and Siemens AG.
Industrial I/O Modules Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Analysis (Revenue, USD Million, 2020 - 2027)
• Programmable Logic Controller I/O (PLC I/O)
• Distributed Control System I/O (DCS I/O)
• Industrial PC I/O
End-user Analysis (Revenue, USD Million, 2020 - 2027)
• Process Industry
• Discrete Industry
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Industrial I/O Modules Market Companies
• Emerson Electric Co.
• General Electric Company
• Mitsubishi Electric Corporation
• Rockwell Automation, Inc.
• Siemens AG
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