1	INTRODUCTION	30
1.1	STUDY OBJECTIVES	30
1.2	DEFINITION	31
1.2.1	INCLUSIONS AND EXCLUSIONS	31
1.3	STUDY SCOPE	32
1.3.1	MARKETS COVERED	32
FIGURE 1	INDUSTRIAL COMMUNICATIONS MARKET SEGMENTATION	32
1.3.2	REGIONAL SCOPE	33
1.3.3	YEARS CONSIDERED	33
1.4	CURRENCY CONSIDERED	33
1.5	LIMITATIONS	34
1.6	STAKEHOLDERS	34
1.7	SUMMARY OF CHANGES	35
2	RESEARCH METHODOLOGY	36
2.1	RESEARCH DATA	36
FIGURE 2	INDUSTRIAL COMMUNICATIONS MARKET: RESEARCH DESIGN	36
2.1.1	SECONDARY AND PRIMARY RESEARCH	38
FIGURE 3	INDUSTRIAL COMMUNICATIONS MARKET: RESEARCH APPROACH	38
2.1.2	SECONDARY DATA	38
TABLE 1	MAJOR SECONDARY SOURCES	39
2.1.2.1	Key data from secondary sources	39
2.1.3	PRIMARY DATA	39
2.1.3.1	Primary interviews with experts	40
2.1.3.2	Key industry insights	40
2.1.3.3	Breakdown of primaries	41
2.2	MARKET SIZE ESTIMATION	41
2.2.1	BOTTOM-UP APPROACH	41
2.2.1.1	Approach to arrive at market size using bottom-up approach	41
FIGURE 4	MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH	42
FIGURE 5	MARKET SIZE ESTIMATION METHODOLOGY (APPROACH 1): BOTTOM-UP  (SUPPLY-SIDE)—ILLUSTRATION OF REVENUE ESTIMATION OF KEY PLAYERS  FROM SALES OF INDUSTRIAL COMMUNICATIONS OFFERINGS	43
2.2.2	TOP-DOWN APPROACH	43
2.2.2.1	Approach to arrive at market size using top-down approach (supply side)	43
FIGURE 6	MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH	44
FIGURE 7	SUPPLY-SIDE ANALYSIS: INDUSTRIAL COMMUNICATIONS MARKET (1/2)	44
FIGURE 8	MARKET SIZE ESTIMATION METHODOLOGY (APPROACH 2): TOP-DOWN  (SUPPLY SIDE)—REVENUE GENERATED FROM INDUSTRIAL COMMUNICATIONS OFFERINGS	44
2.3	MARKET BREAKDOWN AND DATA TRIANGULATION	45
FIGURE 9	DATA TRIANGULATION	45
2.4	RESEARCH ASSUMPTIONS	45
2.5	RISK ASSESSMENTS	46
TABLE 2	RESEARCH LIMITATIONS AND ASSOCIATED RISKS	46
2.6	RESEARCH LIMITATIONS	47
3	EXECUTIVE SUMMARY	48
FIGURE 10	INDUSTRIAL COMMUNICATIONS MARKET SIZE, 2019–2028	48
FIGURE 11	AUTOMOTIVE VERTICAL TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL COMMUNICATIONS MARKET IN 2023	49
FIGURE 12	INDUSTRIAL ETHERNET PROTOCOL TO DOMINATE INDUSTRIAL COMMUNICATIONS MARKET IN 2023	49
FIGURE 13	COMPONENTS SEGMENT TO LEAD INDUSTRIAL COMMUNICATIONS MARKET IN 2023	50
FIGURE 14	ASIA PACIFIC TO HOLD LARGEST SHARE OF INDUSTRIAL COMMUNICATIONS MARKET IN 2023	51
4	PREMIUM INSIGHTS	52
4.1	ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN INDUSTRIAL COMMUNICATIONS MARKET	52
FIGURE 15	INCREASING DEMAND FOR INDUSTRIAL COMMUNICATIONS SOLUTIONS IN PHARMACEUTICALS & MEDICAL DEVICES TO DRIVE MARKET GROWTH DURING FORECAST PERIOD	52
4.2	INDUSTRIAL COMMUNICATIONS MARKET, BY OFFERING	52
FIGURE 16	INDUSTRIAL COMMUNICATIONS SERVICES MARKET TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD	52
4.3	INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL AND VERTICAL	53
FIGURE 17	INDUSTRIAL ETHERNET PROTOCOL AND AUTOMOTIVE VERTICAL TO DOMINATE GLOBAL INDUSTRIAL COMMUNICATIONS MARKET IN 2023	53
4.4	INDUSTRIAL COMMUNICATIONS MARKET, BY REGION	53
FIGURE 18	INDUSTRIAL COMMUNICATIONS MARKET IN ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD	53
5	MARKET OVERVIEW	54
5.1	INTRODUCTION	54
5.2	MARKET DYNAMICS	54
FIGURE 19	INDUSTRIAL COMMUNICATIONS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	54
5.2.1	DRIVERS	55
FIGURE 20	INDUSTRIAL COMMUNICATIONS MARKET DRIVERS AND THEIR IMPACT	55
5.2.1.1	Growing need for scalable, faster, reliable, and interoperable communication protocols	55
5.2.1.1.1	Recent developments	56
5.2.1.2	Increasing use of digital twin technology to safely monitor smart manufacturing operations	56
5.2.1.2.1	Recent developments	56
5.2.1.3	Increasing deployment of machine-to-machine communications technology	57
5.2.1.3.1	Recent developments	57
5.2.1.4	Rising adoption of industrial automation supported by government initiatives	57
5.2.1.4.1	Recent developments	58
FIGURE 21	ANNUAL INSTALLATION COUNT OF INDUSTRIAL ROBOTS, BY COUNTRY,  2020 (THOUSAND UNITS)	58
5.2.1.5	Growing implementation of 5G technology in automotive, construction, and manufacturing	59
5.2.2	RESTRAINTS	59
FIGURE 22	INDUSTRIAL COMMUNICATIONS MARKET RESTRAINT AND ITS IMPACT	59
5.2.2.1	Lack of standardization in industrial communication protocols and interfaces	60
5.2.3	OPPORTUNITIES	60
FIGURE 23	INDUSTRIAL COMMUNICATIONS MARKET OPPORTUNITIES AND THEIR IMPACT	60
5.2.3.1	Lucrative opportunities offered by 5G for Industrial IoT development	60
5.2.3.1.1	Recent developments	60
5.2.3.2	Growing demand for wireless networks	61
5.2.4	CHALLENGES	61
FIGURE 24	INDUSTRIAL COMMUNICATIONS MARKET CHALLENGES AND THEIR IMPACT	61
5.2.4.1	Threats related to cybersecurity	62
5.2.4.2	Harsh field site conditions such as high-voltage transients, severe shocks and vibrations, and extremely high temperatures	62
5.3	VALUE CHAIN ANALYSIS	62
FIGURE 25	INDUSTRIAL COMMUNICATIONS MARKET: VALUE CHAIN ANALYSIS	63
5.3.1	RESEARCH AND DEVELOPMENT	63
5.3.2	COMPONENT MANUFACTURERS/ODMS	63
5.3.3	SYSTEM INTEGRATORS/SOLUTIONS PROVIDERS	63
5.3.4	MARKETING AND SALES	63
5.3.5	POST-SALES SERVICES	64
5.3.6	END USER INDUSTRIES	64
5.4	PORTER’S FIVE FORCES ANALYSIS	64
FIGURE 26	PORTER’S FIVE FORCES ANALYSIS	64
TABLE 3	PORTER’S FIVE FORCES ANALYSIS: INDUSTRIAL COMMUNICATIONS MARKET	65
5.4.1	THREAT OF NEW ENTRANTS	65
5.4.2	THREAT OF SUBSTITUTES	65
5.4.3	BARGAINING POWER OF BUYERS	65
5.4.4	BARGAINING POWER OF SUPPLIERS	66
5.4.5	INTENSITY OF COMPETITIVE RIVALRY	66
5.5	KEY STAKEHOLDERS AND BUYING CRITERIA	66
5.5.1	KEY STAKEHOLDERS IN BUYING PROCESS	66
FIGURE 27	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS	66
TABLE 4	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS (%)	67
5.5.2	BUYING CRITERIA	67
FIGURE 28	KEY BUYING CRITERIA FOR TOP THREE VERTICALS	67
TABLE 5	KEY BUYING CRITERIA FOR TOP THREE VERTICALS	67
5.6	PATENT ANALYSIS	68
TABLE 6	NUMBER OF PATENTS REGISTERED IN INDUSTRIAL COMMUNICATIONS MARKET IN LAST 10 YEARS	68
FIGURE 29	TOP 10 COMPANIES WITH HIGHEST NO. OF PATENT APPLICATIONS IN  LAST 10 YEARS	69
FIGURE 30	NO. OF PATENTS GRANTED PER YEAR, 2013–2022	69
TABLE 7	PATENTS PERTAINING TO INDUSTRIAL COMMUNICATIONS, 2020–2022	69
5.7	TRADE ANALYSIS	71
5.7.1	IMPORT SCENARIO	71
TABLE 8	IMPORT DATA, BY COUNTRY, 2018–2022 (USD MILLION)	71
5.7.2	EXPORT SCENARIO	72
TABLE 9	EXPORT DATA, BY COUNTRY, 2018–2022 (USD MILLION)	72
5.8	TECHNOLOGY ANALYSIS	72
5.8.1	NEAR-FIELD COMMUNICATION (NFC)	73
5.8.2	TIME-SENSITIVE NETWORKING (TSN)	73
5.8.3	OPEN PLATFORM COMMUNICATION UNIFIED ARCHITECTURE  (OPC UA)	73
5.8.4	VIRTUALIZATION	73
5.8.5	ETHERNET	73
5.9	TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS	74
FIGURE 31	REVENUE SHIFT AND NEW REVENUE POCKETS FOR INDUSTRIAL COMMUNICATIONS MARKET PLAYERS	74
5.10	INDUSTRIAL COMMUNICATIONS MARKET ECOSYSTEM	74
FIGURE 32	INDUSTRIAL COMMUNICATIONS MARKET ECOSYSTEM	74
5.11	CASE STUDY	75
5.11.1	ADVANTECH’S EDGE SOLUTIONS ENABLE REAL-TIME OIL TANKER MONITORING	75
5.11.2	PULP MOLDING EQUIPMENT MANUFACTURER IMPLEMENTS ROCKWELL AUTOMATION’S SOLUTIONS	75
5.11.3	OSSID IMPROVES RELIABILITY AND PERFORMANCE OF MACHINERY USING MITSUBISHI ELECTRIC’S AUTOMATION PORTFOLIO	75
5.11.4	AUTOMOTIVE INSPECTION CENTER IMPLEMENTS ADVANTECH’S WISE-PAAS END-TO-CLOUD IOT TOTAL SOLUTION FOR REMOTE VIDEO SURVEILLANCE AND DEVICE STATUS MONITORING AND CONTROL	75
5.11.5	OPTIMA CONTROL SOLUTIONS AND ROCKWELL AUTOMATION PROVIDE AUTOMATED MONITORING SOLUTIONS TO BISCUIT MANUFACTURER	76
5.11.6	WIND POWER PLANT DEPLOYS ADVANTECH’S PLANT MONITORING SOLUTION	76
5.12	KEY CONFERENCES AND EVENTS, 2023–2024	76
TABLE 10	INDUSTRIAL COMMUNICATIONS MARKET: CONFERENCES AND EVENTS, 2023–2024	76
5.13	TARIFF AND REGULATORY LANDSCAPE	77
5.13.1	REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	77
TABLE 11	INDUSTRIAL COMMUNICATIONS MARKET: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	77
5.13.2	TARIFFS	78
5.13.3	STANDARDS	78
5.13.4	REGULATIONS	79
5.14	PRICING ANALYSIS	79
5.14.1	AVERAGE SELLING PRICE (ASP) TRENDS	79
FIGURE 33	INDICATIVE AVERAGE SELLING PRICE (ASP), BY COMPONENT TYPE	79
TABLE 12	PRICING ANALYSIS	79
6	INDUSTRIAL COMMUNICATIONS MARKET, BY OFFERING	80
6.1	INTRODUCTION	81
FIGURE 34	INDUSTRIAL COMMUNICATIONS MARKET, BY OFFERING	81
FIGURE 35	COMPONENTS TO ACCOUNT FOR LARGEST SIZE OF INDUSTRIAL COMMUNICATIONS MARKET IN 2028	81
TABLE 13	INDUSTRIAL COMMUNICATIONS MARKET, BY OFFERING, 2019–2022 (USD BILLION)	82
TABLE 14	INDUSTRIAL COMMUNICATIONS MARKET, BY OFFERING, 2023–2028 (USD BILLION)	82
6.2	COMPONENTS	82
TABLE 15	INDUSTRIAL COMMUNICATIONS MARKET, BY COMPONENT, 2019–2022 (USD MILLION)	83
TABLE 16	INDUSTRIAL COMMUNICATIONS MARKET, BY COMPONENT, 2023–2028 (USD MILLION)	83
6.2.1	SWITCHES	83
6.2.1.1	High security and durability allow switches to build reliable network connections between interconnected computers	83
6.2.2	GATEWAYS	84
6.2.2.1	Secure and efficient communications through gateways back Industry 4.0 and smart factory applications	84
6.2.3	ROUTERS & WAP	84
6.2.3.1	Compatibility with 5G technology in routers supports seamless industrial communications	84
6.2.4	CONTROLLERS & CONNECTORS	85
6.2.4.1	Determining priorities of tasks and interruptions make controllers vital for industrial communications systems	85
6.2.5	COMMUNICATION INTERFACES & CONVERTERS	85
6.2.5.1	Various protocols assist communication interfaces in communicating with different network devices	85
6.2.6	POWER SUPPLY DEVICES	86
6.2.6.1	High-performance integrated PMICS useful in communications power management	86
6.2.7	OTHERS	86
6.3	SOFTWARE	87
6.3.1	NETWORKING MANAGEMENT SOFTWARE OPTIMIZE NETWORK EFFICIENCY AND MINIMIZE TOTAL COST OF OWNERSHIP	87
6.4	SERVICES	87
6.4.1	INDUSTRIAL COMMUNICATIONS SERVICES SUPPORT INTEGRATION OF DEVICES, MACHINES, AND SYSTEMS WITHIN IIOT ECOSYSTEM	87
7	INDUSTRIAL COMMUNICATIONS MARKET,  BY COMMUNICATION PROTOCOL	88
7.1	INTRODUCTION	89
FIGURE 36	INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL	89
FIGURE 37	INDUSTRIAL COMMUNICATIONS MARKET FOR WIRELESS COMMUNICATIONS PROTOCOL TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD	89
TABLE 17	INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL,  2019–2022 (USD MILLION)	90
TABLE 18	INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL, 2023–2028 (USD MILLION)	90
7.2	FIELDBUS	90
TABLE 19	FIELDBUS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2019–2022 (USD MILLION)	91
TABLE 20	FIELDBUS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2023–2028 (USD MILLION)	91
TABLE 21	FIELDBUS: INDUSTRIAL COMMUNICATIONS MARKET IN NORTH AMERICA, BY COUNTRY, 2019–2022 (USD MILLION)	92
TABLE 22	FIELDBUS: INDUSTRIAL COMMUNICATIONS MARKET IN NORTH AMERICA,  BY COUNTRY, 2023–2028 (USD MILLION)	92
TABLE 23	FIELDBUS: INDUSTRIAL COMMUNICATIONS MARKET IN EUROPE, BY COUNTRY,  2019–2022 (USD MILLION)	92
TABLE 24	FIELDBUS: INDUSTRIAL COMMUNICATIONS MARKET IN EUROPE, BY COUNTRY,  2023–2028 (USD MILLION)	93
TABLE 25	FIELDBUS: INDUSTRIAL COMMUNICATIONS MARKET IN ASIA PACIFIC, BY COUNTRY,  2019–2022 (USD MILLION)	93
TABLE 26	FIELDBUS: INDUSTRIAL COMMUNICATIONS MARKET IN ASIA PACIFIC, BY COUNTRY,  2023–2028 (USD MILLION)	93
TABLE 27	FIELDBUS: INDUSTRIAL COMMUNICATIONS MARKET IN ROW, BY REGION,  2019–2022 (USD MILLION)	94
TABLE 28	FIELDBUS: INDUSTRIAL COMMUNICATIONS MARKET IN ROW, BY REGION,  2023–2028 (USD MILLION)	94
7.2.1	PROFIBUS	94
7.2.1.1	PROFIBUS links automation systems and controllers with decentralized field devices	94
7.2.2	MODBUS	95
7.2.2.1	Modbus runs over different communication media, including wired and wireless media and optical networks	95
7.2.3	CC-LINK	95
7.2.3.1	CC-Link integrates system control and communications	95
7.2.4	DEVICENET	95
7.2.4.1	DeviceNet facilitates communication between field-level and high-level devices	95
7.2.5	CANOPEN	96
7.2.5.1	CANopen implemented in embedded networking applications	96
7.2.6	OTHERS	96
7.3	INDUSTRIAL ETHERNET	96
TABLE 29	INDUSTRIAL ETHERNET: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2019–2022 (USD MILLION)	96
TABLE 30	INDUSTRIAL ETHERNET: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2023–2028 (USD MILLION)	97
TABLE 31	INDUSTRIAL ETHERNET: INDUSTRIAL COMMUNICATIONS MARKET IN NORTH AMERICA,  BY COUNTRY, 2019–2022 (USD MILLION)	97
TABLE 32	INDUSTRIAL ETHERNET: INDUSTRIAL COMMUNICATIONS MARKET IN NORTH AMERICA,  BY COUNTRY, 2023–2028 (USD MILLION)	97
TABLE 33	INDUSTRIAL ETHERNET: INDUSTRIAL COMMUNICATIONS MARKET IN EUROPE,  BY COUNTRY, 2019–2022 (USD MILLION)	98
TABLE 34	INDUSTRIAL ETHERNET: INDUSTRIAL COMMUNICATIONS MARKET IN EUROPE,  BY COUNTRY, 2023–2028 (USD MILLION)	98
TABLE 35	INDUSTRIAL ETHERNET: INDUSTRIAL COMMUNICATIONS MARKET IN ASIA PACIFIC,  BY COUNTRY, 2019–2022 (USD MILLION)	98
TABLE 36	INDUSTRIAL ETHERNET: INDUSTRIAL COMMUNICATIONS MARKET IN ASIA PACIFIC,  BY COUNTRY, 2023–2028 (USD MILLION)	99
TABLE 37	INDUSTRIAL ETHERNET: INDUSTRIAL COMMUNICATIONS MARKET IN ROW, BY REGION, 2019–2022 (USD MILLION)	99
TABLE 38	INDUSTRIAL ETHERNET: INDUSTRIAL COMMUNICATIONS MARKET IN ROW, BY REGION, 2023–2028 (USD MILLION)	99
7.3.1	PROFINET	99
7.3.1.1	PROFINET supplements existing PROFIBUS technologies by providing faster data communications	99
7.3.2	ETHERNET/IP	100
7.3.2.1	Ethernet/IP widely used in hybrid and process industries	100
7.3.3	ETHERCAT	100
7.3.3.1	EtherCAT specifically designed for fast control demand applications	100
7.3.4	MODBUS-TCP	100
7.3.4.1	MODBUS-TCP offers high level of interoperability for industrial communications network devices	100
7.3.5	POWERLINK	101
7.3.5.1	Ethernet Powerlink enables transfer of time-critical data in short duration	101
7.3.6	SERCOS III	101
7.3.6.1	SERCOS III provides low-latency data transfer	101
7.3.7	CC-LINK IE	101
7.3.7.1	CC-Link IE supports flexible wiring topologies, such as star,  ring, and line configuration	101
7.4	WIRELESS	102
TABLE 39	WIRELESS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2019–2022 (USD MILLION)	102
TABLE 40	WIRELESS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2023–2028 (USD MILLION)	102
TABLE 41	WIRELESS: INDUSTRIAL COMMUNICATIONS MARKET IN NORTH AMERICA,  BY COUNTRY, 2019–2022 (USD MILLION)	103
TABLE 42	WIRELESS: INDUSTRIAL COMMUNICATIONS MARKET IN NORTH AMERICA,  BY COUNTRY, 2023–2028 (USD MILLION)	103
TABLE 43	WIRELESS: INDUSTRIAL COMMUNICATIONS MARKET IN EUROPE,  BY COUNTRY, 2019–2022 (USD MILLION)	103
TABLE 44	WIRELESS: INDUSTRIAL COMMUNICATIONS MARKET IN EUROPE,  BY COUNTRY, 2023–2028 (USD MILLION)	104
TABLE 45	WIRELESS: INDUSTRIAL COMMUNICATIONS MARKET IN ASIA PACIFIC,  BY COUNTRY, 2019–2022 (USD MILLION)	104
TABLE 46	WIRELESS: INDUSTRIAL COMMUNICATIONS MARKET IN ASIA PACIFIC,  BY COUNTRY, 2023–2028 (USD MILLION)	104
TABLE 47	WIRELESS: INDUSTRIAL COMMUNICATIONS MARKET IN ROW, BY REGION,  2019–2022 (USD MILLION)	105
TABLE 48	WIRELESS: INDUSTRIAL COMMUNICATIONS MARKET IN ROW, BY REGION,  2023–2028 (USD MILLION)	105
7.4.1	WLAN	105
7.4.1.1	WLAN provides wide area coverage and faster communications	105
7.4.2	ISA100.11A	106
7.4.2.1	ISA 100 operates in 2.4 MHz frequency range and supports up to 15 channels	106
7.4.3	CELLULAR	106
7.4.3.1	Cellular networks ideal for IIot applications that require operations over long distances	106
7.4.4	ZIGBEE	107
7.4.4.1	Zigbee offers reliable, cost-effective, low-power network structure	107
7.4.5	WHART	107
7.4.5.1	WHART designed for field-level wireless communication requirements in process industries	107
7.4.6	OTHERS	107
8	INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL	108
8.1	INTRODUCTION	109
FIGURE 38	INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL	109
FIGURE 39	AUTOMOTIVE VERTICAL TO DOMINATE INDUSTRIAL COMMUNICATIONS MARKET IN 2023	110
TABLE 49	INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL, 2019–2022 (USD MILLION)	110
TABLE 50	INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL, 2023–2028 (USD MILLION)	111
8.2	AUTOMOTIVE	111
8.2.1	INCREASED PENETRATION OF INDUSTRIAL COMMUNICATIONS SOLUTIONS IN AUTOMOTIVE MANUFACTURING TO DRIVE MARKET	111
TABLE 51	AUTOMOTIVE: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2019–2022 (USD MILLION)	112
TABLE 52	AUTOMOTIVE: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2023–2028 (USD MILLION)	112
8.3	ELECTRICAL & ELECTRONICS	113
8.3.1	NEED TO REDUCE DOWNTIME IN ELECTRONICS MANUFACTURING TO FUEL MARKET GROWTH	113
TABLE 53	ELECTRICAL & ELECTRONICS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION, 2019–2022 (USD MILLION)	114
TABLE 54	ELECTRICAL & ELECTRONICS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION, 2023–2028 (USD MILLION)	114
8.4	AEROSPACE & DEFENSE	115
8.4.1	IMPLEMENTATION OF INDUSTRIAL COMMUNICATIONS TO ENSURE EFFECTIVE MANUFACTURING PROCESSES TO DRIVE MARKET	115
TABLE 55	AEROSPACE & DEFENSE: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2019–2022 (USD MILLION)	115
TABLE 56	AEROSPACE & DEFENSE: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2023–2028 (USD MILLION)	115
8.5	OIL & GAS	116
8.5.1	INCREASING OFFSHORE OIL & GAS ACTIVITIES TO LEAD  TO RISING ADOPTION OF AUTOMATION SOLUTIONS	116
TABLE 57	OIL & GAS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2019–2022 (USD MILLION)	117
TABLE 58	OIL & GAS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2023–2028 (USD MILLION)	117
8.6	CHEMICALS & FERTILIZERS	118
8.6.1	HIGH SAFETY LEVELS REQUIRED IN CHEMICAL INDUSTRY TO PROPEL MARKET GROWTH FOR INDUSTRIAL COMMUNICATIONS	118
TABLE 59	CHEMICALS & FERTILIZERS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION, 2019–2022 (USD MILLION)	118
TABLE 60	CHEMICALS & FERTILIZERS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION, 2023–2028 (USD MILLION)	119
8.7	FOOD & BEVERAGES	119
8.7.1	RAPID PENETRATION OF AUTOMATION IN FOOD & BEVERAGES INDUSTRY TO DRIVE DEMAND FOR INDUSTRIAL COMMUNICATIONS SOLUTIONS	119
TABLE 61	FOOD & BEVERAGES: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2019–2022 (USD MILLION)	120
TABLE 62	FOOD & BEVERAGES: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2023–2028 (USD MILLION)	120
8.8	PHARMACEUTICALS & MEDICAL DEVICES	121
8.8.1	ADOPTION OF AUTOMATION AND SENSING TECHNOLOGIES IN PHARMACEUTICAL INDUSTRY TO BOOST MARKET GROWTH	121
TABLE 63	PHARMACEUTICALS & MEDICAL DEVICES: INDUSTRIAL COMMUNICATIONS MARKET,  BY REGION, 2019–2022 (USD MILLION)	121
TABLE 64	PHARMACEUTICALS & MEDICAL DEVICES: INDUSTRIAL COMMUNICATIONS MARKET,  BY REGION, 2023–2028 (USD MILLION)	122
8.9	ENERGY & POWER	122
8.9.1	DEMAND FOR COMMUNICATIONS NETWORKS FOR DATA RETRIEVAL IN ENERGY & POWER PLANTS TO DRIVE MARKET	122
TABLE 65	ENERGY & POWER: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2019–2022 (USD MILLION)	123
TABLE 66	ENERGY & POWER: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2023–2028 (USD MILLION)	123
8.10	METALS & MINING	124
8.10.1	ENSURING WORKER SAFETY IN MINING INDUSTRY TO LEAD TO MARKET GROWTH	124
TABLE 67	METALS & MINING: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2019–2022 (USD MILLION)	124
TABLE 68	METALS & MINING: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2023–2028 (USD MILLION)	124
8.11	ENGINEERING/FABRICATION	125
8.11.1	NETWORKING TECHNOLOGIES ENSURE CONSISTENT AND UNINTERRUPTED CONNECTIVITY FOR WORKERS IN FABRICATION PLANTS	125
TABLE 69	ENGINEERING/FABRICATION: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION, 2019–2022 (USD MILLION)	125
TABLE 70	ENGINEERING/FABRICATION: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION, 2023–2028 (USD MILLION)	126
8.12	WATER & WASTEWATER MANAGEMENT	126
8.12.1	LOW-COST, LOW-POWER SENSORS AND EDGE-COMPUTING DEVICES TO INCREASE EFFICIENCY TO FUEL MARKET GROWTH	126
TABLE 71	WATER & WASTEWATER MANAGEMENT: INDUSTRIAL COMMUNICATIONS MARKET,  BY REGION, 2019–2022 (USD MILLION)	127
TABLE 72	WATER & WASTEWATER MANAGEMENT: INDUSTRIAL COMMUNICATIONS MARKET,  BY REGION, 2023–2028 (USD MILLION)	127
8.13	OTHERS	128
TABLE 73	OTHERS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2019–2022 (USD MILLION)	128
TABLE 74	OTHERS: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION,  2023–2028 (USD MILLION)	128
9	INDUSTRIAL COMMUNICATIONS MARKET, BY REGION	129
9.1	INTRODUCTION	130
FIGURE 40	INDUSTRIAL COMMUNICATIONS MARKET IN ASIA PACIFIC TO RECORD HIGHEST CAGR DURING 2023–2028	130
TABLE 75	INDUSTRIAL COMMUNICATIONS MARKET, BY REGION, 2019–2022 (USD BILLION)	130
TABLE 76	INDUSTRIAL COMMUNICATIONS MARKET, BY REGION, 2023–2028 (USD BILLION)	131
9.2	NORTH AMERICA	131
TABLE 77	NORTH AMERICA: INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL, 2019–2022 (USD MILLION)	132
TABLE 78	NORTH AMERICA: INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL, 2023–2028 (USD MILLION)	132
TABLE 79	NORTH AMERICA: INDUSTRIAL COMMUNICATIONS MARKET, BY COUNTRY,  2019–2022 (USD MILLION)	132
TABLE 80	NORTH AMERICA: INDUSTRIAL COMMUNICATIONS MARKET, BY COUNTRY,  2023–2028 (USD MILLION)	133
TABLE 81	NORTH AMERICA: INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL,  2019–2022 (USD MILLION)	133
TABLE 82	NORTH AMERICA: INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL,  2023–2028 (USD MILLION)	134
FIGURE 41	NORTH AMERICA: INDUSTRIAL COMMUNICATIONS MARKET SNAPSHOT	135
9.2.1	US	135
9.2.1.1	Ideal environment for innovation to facilitate massive advancements in industrial communications	135
9.2.2	CANADA	136
9.2.2.1	Growing investments in automated manufacturing technologies for process and discrete industries to contribute to market growth	136
9.2.3	MEXICO	137
9.2.3.1	Deployment of 5G for industrial communications to support market growth	137
9.3	EUROPE	137
FIGURE 42	EUROPE: INDUSTRIAL COMMUNICATIONS MARKET SNAPSHOT	138
TABLE 83	EUROPE: INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL, 2019–2022 (USD MILLION)	138
TABLE 84	EUROPE: INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL, 2023–2028 (USD MILLION)	139
TABLE 85	EUROPE: INDUSTRIAL COMMUNICATIONS MARKET, BY COUNTRY,  2019–2022 (USD MILLION)	139
TABLE 86	EUROPE: INDUSTRIAL COMMUNICATIONS MARKET, BY COUNTRY,  2023–2028 (USD MILLION)	139
TABLE 87	EUROPE: INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL,  2019–2022 (USD MILLION)	140
TABLE 88	EUROPE: INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL  2023–2028 (USD MILLION)	140
9.3.1	UK	141
9.3.1.1	Increasing adoption of automation in manufacturing to fuel market growth	141
9.3.2	GERMANY	141
9.3.2.1	Growing demand for industrial communications solutions in automotive industry to propel market growth	141
9.3.3	FRANCE	142
9.3.3.1	Government initiatives promoting adoption of advanced technologies to drive market	142
9.3.4	SPAIN	142
9.3.4.1	Demand for industrial communications offerings from automobile industry to boost market growth	142
9.3.5	ITALY	143
9.3.5.1	Automobile manufacturing to fuel growth of industrial communications market	143
9.3.6	REST OF EUROPE	143
9.4	ASIA PACIFIC	144
FIGURE 43	ASIA PACIFIC: INDUSTRIAL COMMUNICATIONS MARKET SNAPSHOT	145
TABLE 89	ASIA PACIFIC: INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL, 2019–2022 (USD MILLION)	145
TABLE 90	ASIA PACIFIC: INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL, 2023–2028 (USD MILLION)	146
TABLE 91	ASIA PACIFIC: INDUSTRIAL COMMUNICATIONS MARKET, BY COUNTRY,  2019–2022 (USD MILLION)	146
TABLE 92	ASIA PACIFIC: INDUSTRIAL COMMUNICATIONS MARKET, BY COUNTRY,  2023–2028 (USD MILLION)	146
TABLE 93	ASIA PACIFIC: INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL,  2019–2022 (USD MILLION)	147
TABLE 94	ASIA PACIFIC: INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL,  2023–2028 (USD MILLION)	147
9.4.1	CHINA	148
9.4.1.1	Surging use of industrial communications solutions in automotive sector to propel market growth	148
9.4.2	JAPAN	148
9.4.2.1	Ongoing technological developments in different industries  to lead to deployment of advanced automation solutions	148
9.4.3	INDIA	148
9.4.3.1	Increasing government investments in industrial automation to drive market	148
9.4.4	SOUTH KOREA	149
9.4.4.1	Robust manufacturing sector to boost adoption of industrial communications solutions	149
9.4.5	REST OF ASIA PACIFIC	149
9.5	REST OF THE WORLD (ROW)	150
TABLE 95	ROW: INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL,  2019–2022 (USD MILLION)	150
TABLE 96	ROW: INDUSTRIAL COMMUNICATIONS MARKET, BY COMMUNICATION PROTOCOL,  2023–2028 (USD MILLION)	150
TABLE 97	ROW: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION, 2019–2022 (USD MILLION)	151
TABLE 98	ROW: INDUSTRIAL COMMUNICATIONS MARKET, BY REGION, 2023–2028 (USD MILLION)	151
TABLE 99	ROW: INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL,  2019–2022 (USD MILLION)	151
TABLE 100	ROW: INDUSTRIAL COMMUNICATIONS MARKET, BY VERTICAL,  2023–2028 (USD MILLION)	152
9.5.1	LATIN AMERICA	152
9.5.1.1	Rising deployment of factory automation solutions in different industries to boost market growth	152
9.5.2	MIDDLE EAST	153
9.5.2.1	Increasing adoption of automation solutions in oil & gas industry to drive market	153
9.5.3	AFRICA	153
9.5.3.1	Growing industrialization to increase demand for industrial communications	153
10	COMPETITIVE LANDSCAPE	154
10.1	OVERVIEW	154
10.2	MARKET EVALUATION FRAMEWORK	154
TABLE 101	OVERVIEW OF STRATEGIES ADOPTED BY TOP FIVE MANUFACTURERS IN INDUSTRIAL COMMUNICATIONS MARKET FROM 2020 TO 2023	154
10.2.1	PRODUCT PORTFOLIO	155
10.2.2	REGIONAL FOCUS	155
10.2.3	MANUFACTURING FOOTPRINT	155
10.2.4	ORGANIC/INORGANIC GROWTH STRATEGIES	155
10.3	INDUSTRIAL COMMUNICATIONS MARKET: MARKET SHARE ANALYSIS, 2022	155
TABLE 102	INDUSTRIAL COMMUNICATIONS MARKET: MARKET SHARE ANALYSIS (2022)	156
10.4	FIVE-YEAR COMPANY REVENUE ANALYSIS	158
FIGURE 44	FIVE-YEAR REVENUE ANALYSIS OF TOP FIVE PLAYERS	158
10.5	KEY COMPANY EVALUATION MATRIX, 2022	158
10.5.1	STARS	158
10.5.2	EMERGING LEADERS	158
10.5.3	PERVASIVE PLAYERS	159
10.5.4	PARTICIPANTS	159
FIGURE 45	INDUSTRIAL COMMUNICATIONS MARKET: KEY COMPANY EVALUATION MATRIX, 2022	159
10.6	COMPANY FOOTPRINT	160
TABLE 103	OVERALL COMPANY FOOTPRINT (25 PLAYERS)	160
TABLE 104	COMPANY FOOTPRINT, BY OFFERING (25 PLAYERS)	161
TABLE 105	COMPANY FOOTPRINT, BY VERTICAL (25 PLAYERS)	162
TABLE 106	COMPANY FOOTPRINT, BY REGION (25 PLAYERS)	163
10.7	START-UPS/SMES EVALUATION MATRIX, 2022	164
10.7.1	PROGRESSIVE COMPANIES	164
10.7.2	RESPONSIVE COMPANIES	164
10.7.3	DYNAMIC COMPANIES	164
10.7.4	STARTING BLOCKS	164
FIGURE 46	INDUSTRIAL COMMUNICATIONS MARKET: START-UPS/SMES EVALUATION MATRIX, 2022	165
10.7.5	COMPETITIVE BENCHMARKING	165
TABLE 107	INDUSTRIAL COMMUNICATIONS MARKET: DETAILED LIST OF KEY START-UPS/SMES	166
TABLE 108	INDUSTRIAL COMMUNICATIONS MARKET: COMPETITIVE BENCHMARKING OF START-UPS/SMES	166
10.8	COMPETITIVE SCENARIOS AND TRENDS	167
10.8.1	PRODUCT LAUNCHES	167
TABLE 109	PRODUCT LAUNCHES, 2020–2023	167
10.8.2	DEALS	170
TABLE 110	DEALS, 2020–2023	170
10.8.3	OTHERS	174
TABLE 111	OTHERS, 2020–2023	174
11	COMPANY PROFILES	175
11.1	KEY PLAYERS	175
(Business overview, Products/Services/Solutions offered, Recent developments, MnM view, Key strengths/Right to win, Strategic choices, and Weaknesses/Competitive threats)*
11.1.1	CISCO SYSTEMS, INC.	175
TABLE 112	CISCO SYSTEMS, INC.: COMPANY OVERVIEW	175
FIGURE 47	CISCO SYSTEMS, INC.: COMPANY SNAPSHOT	176
TABLE 113	CISCO SYSTEMS, INC.: PRODUCT/SERVICE/SOLUTION OFFERED	176
TABLE 114	CISCO SYSTEMS, INC.: PRODUCT LAUNCHES	177
TABLE 115	CISCO SYSTEMS, INC.: DEALS	177
11.1.2	SIEMENS	179
TABLE 116	SIEMENS: COMPANY OVERVIEW	179
FIGURE 48	SIEMENS: COMPANY SNAPSHOT	180
TABLE 117	SIEMENS: PRODUCT/SERVICE/SOLUTION OFFERED	180
TABLE 118	SIEMENS: PRODUCT LAUNCHES	181
TABLE 119	SIEMENS: DEALS	182
11.1.3	ROCKWELL AUTOMATION	183
TABLE 120	ROCKWELL AUTOMATION: COMPANY OVERVIEW	183
FIGURE 49	ROCKWELL AUTOMATION: COMPANY SNAPSHOT	184
TABLE 121	ROCKWELL AUTOMATION: PRODUCT/SERVICE/SOLUTION OFFERED	184
TABLE 122	ROCKWELL AUTOMATION: PRODUCT LAUNCHES	185
TABLE 123	ROCKWELL AUTOMATION: DEALS	186
11.1.4	OMRON CORPORATION	188
TABLE 124	OMRON CORPORATION: COMPANY OVERVIEW	188
FIGURE 50	OMRON CORPORATION: COMPANY SNAPSHOT	189
TABLE 125	OMRON CORPORATION: PRODUCT/SERVICE/SOLUTION OFFERED	189
TABLE 126	OMRON CORPORATION: PRODUCT LAUNCHES	190
TABLE 127	OMRON CORPORATION: DEALS	190
11.1.5	MOXA INC.	192
TABLE 128	MOXA INC.: COMPANY OVERVIEW	192
TABLE 129	MOXA INC.: PRODUCT/SERVICE/SOLUTION OFFERED	192
TABLE 130	MOXA INC.: PRODUCT LAUNCHES	193
TABLE 131	MOXA INC.: DEALS	194
11.1.6	HUAWEI TECHNOLOGIES CO., LTD.	196
TABLE 132	HUAWEI TECHNOLOGIES CO., LTD.: COMPANY OVERVIEW	196
FIGURE 51	HUAWEI TECHNOLOGIES CO., LTD.: COMPANY SNAPSHOT	197
TABLE 133	HUAWEI TECHNOLOGIES CO., LTD.: PRODUCT/SERVICE/SOLUTION OFFERED	197
TABLE 134	HUAWEI TECHNOLOGIES CO., LTD.: PRODUCT LAUNCHES	198
TABLE 135	HUAWEI TECHNOLOGIES CO., LTD.: DEALS	200
TABLE 136	HUAWEI TECHNOLOGIES CO., LTD.: OTHERS	200
11.1.7	SICK AG	201
TABLE 137	SICK AG: COMPANY OVERVIEW	201
FIGURE 52	SICK AG: COMPANY SNAPSHOT	202
TABLE 138	SICK AG: PRODUCT/SERVICE/SOLUTION OFFERED	202
TABLE 139	SICK AG: PRODUCT LAUNCHES	204
TABLE 140	SICK AG: DEALS	205
TABLE 141	SICK AG: OTHERS	205
11.1.8	SCHNEIDER ELECTRIC	206
TABLE 142	SCHNEIDER ELECTRIC: COMPANY OVERVIEW	206
FIGURE 53	SCHNEIDER ELECTRIC: COMPANY SNAPSHOT	207
TABLE 143	SCHNEIDER ELECTRIC: PRODUCT/SERVICE/SOLUTION OFFERED	207
TABLE 144	SCHNEIDER ELECTRIC: DEALS	209
TABLE 145	SCHNEIDER ELECTRIC: OTHERS	210
11.1.9	ABB	211
TABLE 146	ABB: COMPANY OVERVIEW	211
FIGURE 54	ABB: COMPANY SNAPSHOT	212
TABLE 147	ABB: PRODUCT/SERVICE/SOLUTION OFFERED	212
TABLE 148	ABB: DEALS	214
TABLE 149	ABB: OTHERS	215
11.1.10	BELDEN INC.	216
TABLE 150	BELDEN INC.: COMPANY OVERVIEW	216
FIGURE 55	BELDEN INC.: COMPANY SNAPSHOT	217
TABLE 151	BELDEN INC.: PRODUCT/SERVICE/SOLUTION OFFERED	217
TABLE 152	BELDEN INC.: PRODUCT LAUNCHES	220
TABLE 153	BELDEN INC.: DEALS	221
11.2	OTHER PLAYERS	222
11.2.1	GE	222
11.2.2	ADVANTECH CO., LTD.	223
11.2.3	IFM ELECTRONIC GMBH	224
11.2.4	FANUC CORPORATION	225
11.2.5	BOSCH REXROTH AG	225
11.2.6	AAEON TECHNOLOGY INC.	226
11.2.7	HMS NETWORKS	227
11.2.8	HONEYWELL INTERNATIONAL INC.	228
11.2.9	MITSUBISHI ELECTRIC CORPORATION	229
11.2.10	TELEFONAKTIEBOLAGET LM ERICSSON	230
11.2.11	HANS TURCK GMBH & CO. KG	230
11.2.12	ACS MOTION CONTROL	231
11.2.13	EATON	231
11.2.14	BECKHOFF AUTOMATION	232
11.2.15	HITACHI, LTD.	233
*Details on Business overview, Products/Services/Solutions offered, Recent developments, MnM view, Key strengths/Right to win, Strategic choices, and Weaknesses/Competitive threats might not be captured in case of unlisted companies.
12	APPENDIX	234
12.1	DISCUSSION GUIDE	234
12.2	KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL	237
12.3	CUSTOMIZATION OPTIONS	239
12.4	RELATED REPORTS	239
12.5	AUTHOR DETAILS	240
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