With Market Size Valued at $185.2 Billion by 2026, it's a Healthy Outlook for the Global Industrial Communication Market

SAN FRANCISCO, Oct. 14, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Industrial Communication - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Pool: 20793
Companies: 280 - Players covered include AAEON Technology Inc.; ABB Group; Advantech Co., Ltd.; B&R Industrial Automation GmbH; Belden, Inc.; Bosch Rexroth AG; Cisco Systems, Inc.; Ericsson AB; GE Grid Solutions; Hans Turck GmbH & Co. KG; HMS Industrial Networks; Honeywell International, Inc.; Ifm Electronic GmbH; Mitsubishi Electric Corporation; Moxa, Inc.; OMRON Corporation (Industrial Automation); Rockwell Automation, Inc.; Schneider Electric SA; SICK AG; Siemens AG and Others.
Coverage: All major geographies and key segments
Segments: Application (Automotive & Transportation, Electrical & Electronics, Aerospace & Defense, Oil & Gas, Water & Wastewater, Other Applications); Offering (Component, Software, Services)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Industrial Communication Market to Reach $185.2 Billion by 2026
Amid the COVID-19 crisis, the global market for Industrial Communication estimated at US$95.1 Billion in the year 2020, is projected to reach a revised size of US$185.2 Billion by 2026, growing at a CAGR of 11.6% over the analysis period. Component, one of the segments analyzed in the report, is projected to record a 10.9% CAGR and reach US$106 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 12.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $31.9 Billion in 2021, While China is Forecast to Reach $32.7 Billion by 2026
The Industrial Communication market in the U.S. is estimated at US$31.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$32.7 Billion by the year 2026 trailing a CAGR of 11.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.1% and 9.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.5% CAGR.

Services Segment to Reach US$37.7 Billion by the year 2026
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 11.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$15.3 Billion in the year 2020 will reach a projected size of US$33.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.