Industrial I/O Modules Market to Grow by USD 2.33 Billion During 2021-2025|Featuring ABB Ltd. and Emerson Electric Co. Among Others|Technavio
NEW YORK, March 30, 2021 /PRNewswire/ --
The global industrial I/O modules market is expected to grow by USD 2.33 billion during 2021-2025, as per Technavio. This marks a significant market slow down compared to the 2020 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 6%.
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The industrial I/O modules market is driven by the continued developments in power grid projects. In addition, the continued adaptation of distributed I/O systems is anticipated to boost the growth of the industrial I/O modules market.
Power grid projects have high scope for the adoption of industrial I/O modules in power generation, transmission, and distribution. Smart grids include grid applications such as I/O modules and related equipment, smart energy meters, IT, and other communication networks. The key benefits of smart grids over traditional grids play a key role in fostering investments in smart grid projects. The measures to supply electricity through grids with smart technology are driving the power transmission and distribution industry. The increasing adoption of smart grids and increasing developments in power grid projects can help in the growth of the industrial I/O modules globally during the forecast period.
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Major Five Industrial I/O Modules Companies:
ABB Ltd.
ABB Ltd. operates business through Electrification, Industrial Automation, Motion, Robotics & Discrete Automation, and Corporate and Other. The company provides industrial IO modules under the Select I/O brand name. Select I/O is an Ethernet-based single-channel I/O solution for ABB Ability System 800xA that offers full redundancy down to the Signal Conditioning Module.
Emerson Electric Co.
Emerson Electric Co. operates business through Automation Solutions and Commercial and Residential Solutions. Industrial IO modules offered by the company provide a flexible and reliable solution for best-in-class connectivity and continuous uptime. Some of the industrial IO modules offered by the company are Chassis-based I/O, Distributed Slice I/O, On-Machine Distributed I/O, and Intrinsically Safe Distributed I/O.
General Electric Co.
General Electric Co. operates business through Power, Renewable energy, Aviation, Healthcare, and Capital. The company provides a wide range of industrial IO modules such as Mark VIe and Mark VIeS Universal Analog I/O.
Mitsubishi Corp.
Mitsubishi Corp. operates business through 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 provides a wide range of industrial IO modules such as Modular I/O, Digital I/O Module, and Analog I/O Module.
Moxa Inc.
Moxa Inc. operates business through Industrial network infrastructure, Industrial edge connectivity, and Industrial computing. The company provides a wide range of industrial IO modules such as ioLogik E1200 Series, ioLogik E2200 Series, ioLogik R1200 Series, ioLogik 4000 Series, and ioLogik 4000 Series (M) Modules.
Industrial I/O Modules Market Product Outlook (Revenue, USD billion, 2020-2025)
- PLC I/O - size and forecast 2020-2025
- DCS I/O - size and forecast 2020-2025
- Industrial PC I/O - size and forecast 2020-2025
Industrial I/O Modules Market End-user Outlook (Revenue, USD billion, 2020-2025)
- Process industries - size and forecast 2020-2025
- Discrete industries - size and forecast 2020-2025
Industrial I/O Modules Market Geography Outlook (Revenue, USD billion, 2020-2025)
- Europe - size and forecast 2020-2025
- APAC - size and forecast 2020-2025
- North America - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
- South America - size and forecast 2020-2025
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