Summary

IO-Link Market Research Report Information By Type (IO-link Wired, IO-link Wireless), By Component (IO-link Master, IO-link Devices, Sensor Nodes, Modules, Actuators, RFID Read Heads, Others), By Application (Machine Tool, Handling & Assembly, Automation, Intralogistics, Packaging), By Industry Vertical (Oil & Gas, Energy & Power, Automotive, Aerospace & Defense, Pharmaceuticals, Food & Beverages, Chemicals, Others)And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) Industry Size, Share and Forecast Till 2032

Market Overview
The Global IO-Link market has experienced substantial growth in recent years, as indicated by MRFR. It is anticipated to reach 75,750.3 million by 2032, with a compound annual growth rate (CAGR) of 20.1%% from 2025 to 2032.
The next iteration of Industry 4.0 devices is connected by IO-Link. The IO-Link is a serial, bi-directional, point-to-point connection that is standardized by the IEC for the purpose of signal transmission and power supply. By connecting the automation system to the field level, IO-Link provides intelligence to the industrial factory. The installation and operation of IO-Link are effortless, universal, and intelligent. The integration of sensors and actuators at the field level into the control network is facilitated by IO-Link products. This protocol has been approved by the International Electrotechnical Commission (IEC) and is both straightforward to install and operate, rendering it a highly sought-after solution in industrial environments. IO-Link products can support a wide range of sensor types due to their compact packages and the ability to configure pins to simplify designs and reduce costs. The company also provides compact IO-link line drivers with high-voltage I/O channels to satisfy the physical layer requirements of sensor and actuator systems utilized in factory and process automation applications. In severe environments, these devices offer a diverse array of configurable system features and operations.
Market segment insights
The IO-Link Market segmentation is categorized by type, including IO-link Wired and IO-link Wireless.
Component-based market segmentation comprises IO-link Master, IO-link Devices, Sensor Nodes, Modules, Actuators, RFID Read Heads, and Others.
Machine tool, handling and assembly, automation, intralogistics, and packaging comprise the IO-Link market segmentation by application.
Oil & Gas, Energy & Power, Automotive, Aerospace & Defense, Pharmaceuticals, Food & Beverages, Chemicals, and Others comprise the market segmentation, which is based on industry vertical.
Regional Perspectives
In 2022, the North American IO-Link Market was the dominant market. IO-Link technology has become increasingly prevalent in a variety of industries due to its ability to enhance diagnostics, increase automation, and increase effectiveness. Additionally, the highest market share was held by the U.S. IO-Link market, while the Canada Armor Materials market was the fastest-growing market in the North America region.
The second-largest market share is attributed to the IO-Link market in Europe. The region benefits from a robust industrial infrastructure, a focus on state-of-the-art manufacturing technology, and a substantial demand for automation solutions that are both adaptable and effective.
The Asia-Pacific IO-Link Market is anticipated to experience the most rapid growth rate from 2023 to 2032. The region is distinguished by its expanding industrial sectors, which encompass automotive, electronics, and consumer products. To enhance the control of production processes, real-time monitoring, and adaptability, these industries are implementing IO-Link technology.

Major Players
Balluff GmbH, ifm electronic GmbH, Banner Engineering Corp., SICK AG, Siemens, Emerson Electric Co., Rockwell Automation, Inc., Pepperl+Fuchs, Hans Turck GmbH & Co. KG, Omron Corporation, and others are among the major participants in the IO-Link market.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY ............................................................................................................... 22
2 MARKET INTRODUCTION ............................................................................................................ 25
2.1 DEFINITION ........................................................................................................................................................ 25
2.2 SCOPE OF THE STUDY ........................................................................................................................................ 25
2.3 RESEARCH OBJECTIVE ....................................................................................................................................... 25
2.4 MARKET STRUCTURE .......................................................................................................................................... 26
3 RESEARCH METHODOLOGY ...................................................................................................... 28
3.1 OVERVIEW .......................................................................................................................................................... 28
3.2 DATA FLOW ........................................................................................................................................................ 29
3.2.1 DATA MINING PROCESS ................................................................................................................................. 30
3.3 PURCHASED DATABASE: .................................................................................................................................... 31
3.4 SECONDARY SOURCES: ....................................................................................................................................... 32
3.4.1 SECONDARY RESEARCH DATA FLOW: ............................................................................................................. 33
3.5 PRIMARY RESEARCH: ......................................................................................................................................... 34
3.5.1 PRIMARY RESEARCH DATA FLOW: ................................................................................................................. 35
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED ......................................................................... 36
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE .................................................................................................. 36
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: ................................................................................................... 37
3.6.1 CONSUMPTION NET TRADE APPROACH ......................................................................................................... 37
3.6.2 REVENUE ANALYSIS APPROACH ..................................................................................................................... 37
3.7 DATA FORECASTING....... 38
3.7.1 DATA FORECASTING TECHNIQUE................................................. 38
3.8 DATA MODELING ............. 39
3.8.1 MICROECONOMIC FACTOR ANALYSIS: ............................................................................................................ 39
3.8.2 DATA MODELING: ........ 41
3.9 TEAMS AND ANALYST CONTRIBUTION ................................................................................................................ 43
4 MARKET DYNAMICS...................................................................... 46
4.1 INTRODUCTION ................ 46
4.2 DRIVERS .......................... 47
4.2.1 SHIFT TOWARDS INDUSTRY 4.0.................................................. 47
4.2.2 ABILITY TO OPTIMIZE ENERGY USAGE AND REDUCING OPERATIONAL COSTS .................................................. 47
4.2.3 STANDARDIZATION & INTEROPERABILITY ENHANCEMENTS DEVELOPMENTS IN THE IO-LINK MARKET ............ 47
4.2.4 DRIVERS IMPACT ANALYSIS........................................................... 48
4.3 RESTRAINTS .................... 48
4.3.1 LATENCY SENSITIVITY IN TIME-CRITICAL APPLICATIONS ................................................................................ 48
4.3.2 CYBER RISKS ASSOCIATED WITH AUTOMATION SYSTEMS ............................................................................... 49
4.4 OPPORTUNITIES .............. 49
4.4.1 INCREASING ADOPTION OF IO-LINK IN AUTOMOTIVE INDUSTRY ...................................................................... 49
4.4.2 INCREASED USE IN ROBOTICS & COLLABORATIVE ROBOTS (COBOTS) .............................................................. 50
4.5 MARKET TRENDS............ 51
4.5.1 ADOPTION OF WIRELESS IO-LINK .................................................................................................................... 51
4.5.2 RISING DEMAND FOR REMOTE MONITORING & CLOUD CONNECTIVITY............................................................. 51
4.6 COVID-19 IMPACT ANALYSIS IO-LINK MARKET...................... 51
4.6.1 IMPACT ON OVERALL ICT...................................................... 51
4.6.2 IMPACT ON IO-LINK MARKET............................................................. 52
4.6.3 IMPACT ON SUPPLY CHAIN OF IO-LINK MARKET ............................................................................................. 52
4.6.4 IMPACT ON MARKET DEMAND OF IO-LINK MARKET ......................................................................................... 52
4.6.5 IMPACT ON PRICING OF IO-LINK MARKET ....................................................................................................... 52
5 MARKET FACTOR ANALYSIS.............................................. 53
5.1 SUPPLY CHAIN ANALYSIS........................................................................ 53
5.1.1 COMPONENT MANUFACTURERS AND DEVICE PRODUCTION ............................................................................ 54
5.1.2 SYSTEM INTEGRATION & INDUSTRIAL AUTOMATION ....................................................................................... 54
5.1.3 DISTRIBUTORS AND RESELLERS ...................................................................................................................... 54
5.1.4 END USERS ................. 54
5.2 PORTER'S FIVE FORCES MODEL .......................................................................................................................... 55
5.2.1 THREAT OF NEW ENTRANTS ........................................................................................................................... 55
5.2.2 BARGAINING POWER OF SUPPLIERS ............................................................................................................... 56
5.2.3 THREAT OF SUBSTITUTES .............................................................................................................................. 56
5.2.4 BARGAINING POWER OF BUYERS .................................................................................................................... 56
5.2.5 INTENSITY OF RIVALRY .................................................................................................................................. 56
6 GLOBAL IO-LINK MARKET, BY TYPE .......................................................................................... 57
6.1 OVERVIEW ..................... 57
6.2 IO-LINK WIRED ................. 57
6.3 IO-LINK WIRELESS .............................................................................................................................................. 57
7 GLOBAL IO-LINK MARKET, BY COMPONENT ............................................................................ 59
7.1 OVERVIEW ....................... 59
7.2 IO-LINK MASTERS ........... 60
7.2.1 PROFINET ................. 61
7.2.2 ETHERNEVIP ............... 61
7.2.3 MODBUS-TCP ............. 61
7.2.4 ETHERCAT .................. 61
7.2.5 MULTIPROTOCOL ....... 61
7.2.6 OTHERS .................... 61
7.3 IO-LINK DEVICES ............. 62
7.3.1 SENSOR NODES ............ 62
7.3.1.1 POSITION SENSORS............................................................................. 62
7.3.1.2 TEMPERATURE SENSORS........................................................... 62
7.3.1.3 PRESSURE SENSORS...................................................................... 62
7.3.1.4 VIBRATION SENSORS .............................................................................................................................. 62
7.3.1.5 OTHERS .............. 62
7.3.2 MODULES.................... 63
7.3.3 ACTUATORS ............... 63
7.3.4 RFID READ HEADS AND OTHERS ..................................................................................................................... 63
8 GLOBAL IO-LINK MARKET, BY INDUSTRY ................................................................................. 64
8.1 OVERVIEW .......................................................................................................................................................... 64
8.2 PROCESS INDUSTRIES ..... 65
8.2.1 OIL & GAS ................... 65
8.2.2 CHEMICALS ............... 65
8.2.3 ENERGY & POWER ....... 65
8.3 DISCRETE INDUSTRIES... 66
8.3.1 AUTOMOTIVE ............. 66
8.3.2 AEROSPACE & DEFENSE..................................................................... 66
8.3.3 SEMICONDUCTORS & ELECTRONICS ............................................................................................................... 66
8.3.4 MACHINE MANUFACTURING ........................................................................................................................... 66
8.3.5 PACKAGING .............. 66
8.4 HYBRID INDUSTRIES ........ 66
8.4.1 PHARMACEUTICALS... 67
8.4.2 METALS & MINING........................................................... 67
8.4.3 FOOD & BEVERAGES ... 67
8.4.4 CEMENT AND GLASS ... 67
9 GLOBAL IO-LINK MARKET, BY APPLICATION ............................................................................ 68
9.1 OVERVIEW ....................... 68
9.2 MACHINE TOOLS ........... 69
9.3 HANDLING AND ASSEMBLY AUTOMATION SYSTEMS ........................................................................................... 69
9.4 INTRALOGISTICS SOLUTIONS ............................................................................................................................. 69
9.5 PACKAGING AUTOMATION SOLUTIONS ............................................................................................................... 69
10 GLOBAL IO LINK MARKET, BY REGION...................................................................................... 70
10.1 OVERVIEW ...................... 70
10.1.1 GLOBAL IO LINK MARKET, BY REGION, 2018–2032 (USD MILLION) ................................................................... 70
10.2 NORTH AMERICA ............ 71
10.2.1 US............................ 74
10.2.2 CANADA ..................... 77
10.2.3 MEXICO ..................... 79
10.3 EUROPE .......................... 82
10.3.1 GERMANY .................. 86
10.3.2 UK ............................. 88
10.3.3 FRANCE ..................... 90
10.3.4 RUSSIA ....................... 92
10.3.5 ITALY ......................... 95
10.3.6 SPAIN ....................... 97
10.3.7 REST OF EUROPE ......... 99
10.4 ASIA PACIFIC .............. 102
10.4.1 CHINA .................. 106
10.4.2 INDIA ...................... 108
10.4.3 JAPAN ....................... 111
10.4.4 SOUTH KOREA ........... 113
10.4.5 MALAYSIA ................. 115
10.4.6 THAILAND ............... 118
10.4.7 INDONESIA ................. 120
10.4.8 REST OF ASIA PACIFIC........... 122
10.5 SOUTH AMERICA ............ 125
10.5.1 BRAZIL ...................... 128
10.5.2 ARGENTINA ................ 131
10.5.3 REST OF SOUTH AMERICA...................................................................... 133
10.6 MIDDLE EAST AND AFRICA ................................................................................................................................. 137
10.6.1 GCC COUNTRIES........... 140
10.6.2 SOUTH AFRICA ............................................................................................................................................... 143
10.6.3 REST OF MIDDLE EAST AND AFRICA ................................................................................................................ 145
11 COMPETITVE LANDSCAPE ......................................................................................................... 149
11.1 INTRODUCTION .................................................................................................................................................. 149
11.2 COMPETITIVE BENCHMARKING .......................................................................................................................... 150
11.3 VENDOR SHARE ANALYSIS ................................................................................................................................. 151
11.4 RECENT DEVELOPMENTS ................................................................................................................................... 151
11.4.1 PRODUCT DEVELOPMENT ............................................................................................................................... 151
12 COMPANY PROFILES .................................................................................................................. 154
12.1 TURCK INDIA AUTOMATION PVT. LTD. ................................................................................................................ 154
12.1.1 COMPANY OVERVIEW ..................................................................................................................................... 154
12.1.2 FINANCIAL OVERVIEW .................................................................................................................................... 154
12.1.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED ................................................................................................... 154
12.1.4 KEY DEVELOPMENTS ...................................................................................................................................... 155
12.1.5 SWOT ANALYSIS ............................................................................................................................................ 157
12.1.6 KEY STRATEGIES ............................................................................................................................................ 157
12.2 IFM ELECTRONICS. ............................................................................................................................................. 158
12.2.1 COMPANY OVERVIEW ..................................................................................................................................... 158
12.2.2 FINANCIAL OVERVIEW .................................................................................................................................... 158
12.2.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED ................................................................................................... 158
12.2.4 KEY DEVELOPMENTS ...................................................................................................................................... 159
12.2.5 SWOT ANALYSIS ............................................................................................................................................ 159
12.2.6 KEY STRATEGIES ............................................................................................................................................ 159
12.3 OMRON .............................................................................................................................................................. 161
12.3.1 COMPANY OVERVIEW ..................................................................................................................................... 161
12.3.2 FINANCIAL OVERVIEW .................................................................................................................................... 161
12.3.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED ................................................................................................... 162
12.3.4 KEY DEVELOPMENTS ...................................................................................................................................... 162
12.3.5 SWOT ANALYSIS ............................................................................................................................................ 163
12.3.6 KEY STRATEGIES ............................................................................................................................................ 163
12.4 SIEMENS ............................................................................................................................................................ 165
12.4.1 COMPANY OVERVIEW ..................................................................................................................................... 165
12.4.2 FINANCIAL OVERVIEW .................................................................................................................................... 165
12.4.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED ................................................................................................... 166
12.4.4 KEY DEVELOPMENTS ...................................................................................................................................... 167
12.4.5 SWOT ANALYSIS ............................................................................................................................................ 167
12.4.6 KEY STRATEGIES ............................................................................................................................................ 167
12.5 FESTO. ............................................................................................................................................................... 169
12.5.1 COMPANY OVERVIEW ..................................................................................................................................... 169
12.5.2 FINANCIAL OVERVIEW .................................................................................................................................... 169
12.5.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED ................................................................................................... 169
12.5.4 KEY DEVELOPMENTS ...................................................................................................................................... 170
12.5.5 SWOT ANALYSIS ............................................................................................................................................ 170
12.5.6 KEY STRATEGIES ............................................................................................................................................ 171
12.6 SENSATA TECHNOLOGIES. ................................................................................................................................. 172
12.6.1 COMPANY OVERVIEW ..................................................................................................................................... 172
12.6.2 FINANCIAL OVERVIEW .................................................................................................................................... 173
12.6.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED ................................................................................................... 173
12.6.4 KEY DEVELOPMENTS ...................................................................................................................................... 174
12.6.5 SWOT ANALYSIS ............................................................................................................................................ 175
12.6.6 KEY STRATEGIES ............................................................................................................................................ 175
12.7 ENDRESS+HAUSER ............................................................................................................................................. 176
12.7.1 COMPANY OVERVIEW ..................................................................................................................................... 176
12.7.2 FINANCIAL OVERVIEW .................................................................................................................................... 176
12.7.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED ................................................................................................... 176
12.7.4 SWOT ANALYSIS ............................................................................................................................................ 176
12.7.5 KEY STRATEGIES ............................................................................................................................................ 177
12.8 BANNER ENGINEERING. ...................................................................................................................................... 178
12.8.1 COMPANY OVERVIEW ..................................................................................................................................... 178
12.8.2 FINANCIAL OVERVIEW .................................................................................................................................... 178
12.8.3 PRODUCTS OFFERED ...................................................................................................................................... 178
12.8.4 KEY DEVELOPMENTS ...................................................................................................................................... 179
12.8.5 SWOT ANALYSIS ............................................................................................................................................ 179
12.8.6 KEY STRATEGIES ............................................................................................................................................ 180
12.9 ROCKWELL AUTOMATION ................................................................................................................................... 181
12.9.1 COMPANY OVERVIEW ..................................................................................................................................... 181
12.9.2 FINANCIAL OVERVIEW .................................................................................................................................... 182
12.9.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED ................................................................................................... 182
12.9.4 KEY DEVELOPMENTS ...................................................................................................................................... 183
12.9.5 SWOT ANALYSIS ............................................................................................................................................ 183
12.9.6 KEY STRATEGIES ............................................................................................................................................ 184
12.10 PEPPERL+FUCHS................................................................................................................................................ 185
12.10.1 COMPANY OVERVIEW ..................................................................................................................................... 185
12.10.2 FINANCIAL OVERVIEW .................................................................................................................................... 185
12.10.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED ................................................................................................... 185
12.10.4 KEY DEVELOPMENTS ...................................................................................................................................... 186
12.10.5 SWOT ANALYSIS ............................................................................................................................................ 186
12.10.6 KEY STRATEGIES ............................................................................................................................................ 187
12.11 SMC CORPORATION ........................................................................................................................................... 188
12.11.1 COMPANY OVERVIEW ..................................................................................................................................... 188
12.11.2 FINANCIAL OVERVIEW .................................................................................................................................... 188
12.11.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED ................................................................................................... 189
12.11.4 KEY DEVELOPMENTS ...................................................................................................................................... 190
12.11.5 SWOT ANALYSIS ............................................................................................................................................ 190
12.11.6 KEY STRATEGIES ............................................................................................................................................ 190
12.12 BELDEN INC ....................................................................................................................................................... 191
12.12.1 COMPANY OVERVIEW ..................................................................................................................................... 191
12.12.2 FINANCIAL OVERVIEW .................................................................................................................................... 191
12.12.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED ................................................................................................... 192
12.12.4 KEY DEVELOPMENTS ...................................................................................................................................... 194
12.12.5 SWOT ANALYSIS ............................................................................................................................................ 194
12.12.6 KEY STRATEGIES ............................................................................................................................................ 194
12.13 STMICROELECTRONICS ...................................................................................................................................... 195
12.13.1 COMPANY OVERVIEW ..................................................................................................................................... 195
12.13.2 FINANCIAL OVERVIEW .................................................................................................................................... 196
12.13.3 PRODUCTS OFFERED ...................................................................................................................................... 196
12.13.4 SWOT ANALYSIS ............................................................................................................................................ 197
12.13.5 KEY STRATEGIES ............................................................................................................................................ 198
12.14 ANALOG DEVICES, INC. ....................................................................................................................................... 199
12.14.1 COMPANY OVERVIEW ..................................................................................................................................... 199
12.14.2 FINANCIAL OVERVIEW .................................................................................................................................... 199
12.14.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED ................................................................................................... 200
12.14.4 KEY DEVELOPMENTS ...................................................................................................................................... 201
12.14.5 SWOT ANALYSIS ............................................................................................................................................ 201
12.14.6 KEY STRATEGIES ............................................................................................................................................ 201
12.15 SICK AG. ............................................................................................................................................................ 202
12.15.1 COMPANY OVERVIEW ..................................................................................................................................... 202
12.15.2 FINANCIAL OVERVIEW .................................................................................................................................... 202
12.15.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED ................................................................................................... 203
12.15.4 KEY DEVELOPMENTS ...................................................................................................................................... 203
12.15.5 SWOT ANALYSIS ............................................................................................................................................ 203
12.15.6 KEY STRATEGIES ............................................................................................................................................ 203