The global IO-Link market size was estimated at USD 13.51 billion in 2023 and is expected to grow at a CAGR of 19.2% from 2024 to 2030. The market is experiencing a surge in adoption within industrial automation owing to the growing demand for increased communication between sensors and actuators. This technology allows for seamless data exchange, improving the efficiency and reliability of industrial processes. The trend towards smart factories and Industry 4.0 is driving the demand for IO-Link systems, as they enable real-time data monitoring and predictive maintenance, reducing downtime and operational costs.

The integration of IO-Link technology into IIoT applications is a significant trend driving the market. IO-Link’s ability to facilitate two-way communication between devices and control systems is crucial for implementing advanced IIoT solutions. This technology supports the collection and analysis of data from various sensors, enhancing decision-making processes and operational efficiency. As industries increasingly adopt IIoT to streamline operations, the demand for IO-Link is expected to grow.

The automotive sector is a key driver of the market, with manufacturers leveraging this technology to enhance production line automation. IO-Link systems help in monitoring and controlling various manufacturing processes, ensuring higher precision and quality. The trend towards electric and autonomous vehicles is further boosting the demand for advanced automation solutions, including IO-Link, to maintain competitive production standards and meet stringent quality requirements.

Gather more insights about the market drivers, restrains and growth of the IO-Link Market

Key IO-Link Company Insights

Some of the key players operating in the market are Siemens AG and Rockwell Automation Inc. and among others.

• Siemens AG offers a comprehensive range of products and solutions, including advanced IO-Link technologies. With a strong emphasis on innovation and efficiency, the company leverages its extensive expertise in automation to provide integrated solutions for industries worldwide. The company’s cutting-edge technologies and global presence make it a key player in driving the evolution of industrial automation.

• Rockwell Automation Inc. is renowned for its advanced technologies and solutions that enhance operational efficiency and productivity. Specializing in control systems, software, and IO-Link solutions, the company offers robust and scalable products that cater to diverse industrial needs. Its commitment to innovation and customer support has solidified its position as a leading force in the automation industry.

• Datalogic S.p.A. provides automatic data capture and industrial automation solutions. Specializing in barcode readers, mobile computers, and vision systems, the company delivers innovative IO-Link technologies that enhance operational efficiency and accuracy. The company’s focus on high-quality products and technological advancements positions it as a key player in the automation and data capture markets.

Recent Developments

• In May 2024, Balluff Automation India Pvt. Ltd. introduced a new line of wireless IO-Link communication products, including hubs, bridges, and network blocks, designed to streamline automation and field I/O device connectivity. This wireless system operates on the 2.4 GHz band, offering high-speed data transfer with minimal latency and reducing the need for extensive cabling, which simplifies installation and reconfiguration.

• In February 2024, Belden Inc. unveiled a range of new solutions designed to improve connectivity, enhance speed, and boost power in critical environments. The latest releases include a new LioN-X IO-Link Hub from Lumberg Automation, advanced I/O Plenum Stadium Cables and Access Control Cables, and upgrades to Belden’s REVConnect Connectivity System. Additionally, the company has enhanced its Belden Horizon Console and Hirschmann Industrial HiVision software, alongside updates to its BXP Managed Switches.

Global IO-Link Market Report Segmentation

This report forecasts and estimates revenue growth at the global, regional, and country levels along with analyzes the latest market trends and opportunities in each one of the sub-segments from 2018 to 2030. For this study, Grand View Research has further segmented the global IO-Link market report based on technology, component, end-use, application, and region.

Technology Outlook (Revenue, USD Million, 2018 - 2030)

• IO-Link Wired

• IO-Link Wireless

Component Outlook (Revenue, USD Million, 2018 - 2030)

• IO-Link Masters

o PROFINET

o EtherNet/IP

o Modbus-TCP

o EtherCAT

o Multiprotocol

o Others

• IO-Link Devices

o Sensor Nodes

o Modules

o Actuators

o Others

End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Aerospace & Defense

• Automotive

• Manufacturing

• Electronics & Semiconductors

• F&B (Food & Beverages)

• Pharmaceuticals

• Chemicals

• Oil & Gas

• Packaging

• Utilities

• Others

Application Outlook (Revenue, USD Million, 2018 - 2030)

• Monitoring

• Predictive Maintenance

• Process Automation

• Quality Control

• Others

Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o Germany

o U.K.

o France

• Asia Pacific

o Japan

o China

o India

o Australia

o South Korea

• Latin America

o Brazil

• Middle East and Africa (MEA)

o UAE

o Saudi Arabia

o South Africa

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