Industrial I/O Modules Market

Report Overview

“The Industrial I/O Modules Market size is expected to be worth around USD 3104.87 million by 2032 from USD 1,766.8 million in 2022, growing at a CAGR of 5.8% during the forecast period 2023 to 2032.”

In APAC, Japan and China are the important markets for the global industrial I/O modules market. Market development in this region will be gentler than the market growth in regions. The constant developments in power grid projects will simplify APAC’s global industrial I/O modules market forecast over the development period during 2023-2032.

Industrial I/O modules are connected with field devices, including drives, actuators, and peripheral devices with centralized controllers, including a digital module, fuzzy logic modules, distributed control systems (DCS), sensors with controllers, industrial PC, programmable logic controllers (PLC), and other numerous controllers. The I/O modules change field signals into info and forward it to the supervisor. Moreover, the arrival of undefined logic modules in programmable controllers is another feature that drives the development of the industrial I/O modules market forecast period with future trends.

Global Industrial I/O modules Market Scope:

Product Analysis

By product, the market for industrial I/O modules is segmented into DCS I/O (distributed control system I/O), PLC I/O (programmable logic controller I/O), and industrial PC IO. The PLC I/O segment accounted for major companies and Industrial I/O modules market share in 2022 and is anticipated to retain its principal position in the market in 2023-2032. Due to the increasing industrial production standard and connectivity on I/O modules and the growing level of embedded processing.

End-User Analysis

By end-user process industry, the market segmentation can be bifurcated into the automation process from manual labor to robotic machinery with discrete industries. They are an essential part of DCSs (distributed control systems) in the process industry. It is used with regulatory standards in every main application of process manufacturing capabilities.

The latest DCS systems have progressed with advanced technologies, integration of technology helps miniaturization of devices and more DCS operators are considering upgrading and updating their industrial automation systems to improve their performance such as faster start-up machine time. Discrete input modules obtain signs from input field device levels, including switches, pushbuttons, and sensors with two states: on/off and open/closed. Discrete output port modules send control signs to external devices, including interposing, indicator lamps, and contractors.

Key Market Segments:

By Product

• Programmable Logic Controller I/O (PLC I/O)
• Distributed Control System I/O (DCS I/O)
• Industrial PC I/O

By End-User

• Process Industry
• Discrete Industry

Market Dynamics:

Drivers

The continuous technological growth in projects related to the power grid is one of the main features driving the development of the global industrial I-O modules market. These projects have more scope for acceptance in transmission, distribution, and power generation. Smart grids contain grid applications, including reliable I/O modules with reliable infrastructure, and their related gear, IT, smart energy meters, and other communication nets.

These safety systems give utilities to aid and control the handling of digital assets in the field. The key trends and advantages of smart grids compared to traditional grids play an essential role in fostering reserves in terms of innovation grid projects. Fastest-growing market expansions in power grid projects worldwide have encouraged the development of the market.

The important growth of power grid projects is anticipated to inspire acceptance in power distribution, transmission, and generation.

Challenges

High installation time and automation costs, united with scalability issues related to the application, market restraints growth. Furthermore, installation costs are high, and scalability restrictions associated with applying limit the largest market growth. They are not suitable for ultrahigh-volume operations. The mechanisms that have been pre-assembled and that cannot be modified/dismantled.

Subsequently, the number of possible product configurations is limited when the cost concern is to be inspected for economizing. Parameters, including image set-up, are unchangeable. The number of visual configurations is also restricted overall; it creates a problem for the numerous industries in varying their scalability needs per the growing demands. Usually, the number of variations of fields of vision is restricted to six-eight.

COVID-19 Impact on Safety I/O Modules Market

The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the safety Industrial I/O modules market share negatively as the imposition of a complete lockdown and restrictions on trade affected the product supply and demand for a short study period.

Regional Analysis

In 2022, Europe accounted for the most prominent market share, with 32.5% in the industrial I/O modules market forecast growth. This region is accredited to the growing implementation of industrial values across the continent, increasing acceptance of progressive technologies in industries contributing to the 4^th industrial revolution, the growth of power grid projects in the region, and so on.

Moreover, the rising use of suitable quality safety is motorized, government commands to market for safety parameters and laws in several industries, and increasing importance towards lowering production and automation equipment costs and refining productivity are some of the main key factors accelerating the demand for safety infrastructure Industrial I/O Modules market forecast in the specific region.

The Industrial supply chain module converts the serious program and processes required to get consumer products manufactured, on shelves, shipped, and into customers’ hands. The thoroughly combined inside Workspace suite enables clients to accomplish product lifecycles to factory output, from concept, encompassing product development, design, testing, manufacturing infrastructure, ordering, and global supply to retail associates.

Key Regions and Countries Covered in the Report:

• North America
  • The US
  • Canada
  • Mexico
• Europe
  • Germany
  • The UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Numerous enthusiast market players occupy a noticeable market share. These vendors emphasize progressive technologies to offer an extensive product collection to meet End-User Process Industry, and varying needs, creating a competitive environment in the industrial I/O modules market share opportunities. Key manufacturers operating in the global market are:

Market Key Major Players:

• NVIDIA Corporation
• General Electric Company
• Emerson Electric Co.
• Mitsubishi Electric Corporation
• OMRON Corporation
• Moxa Inc.
• Lumberg Automation
• Advantech Co. Ltd.
• ABB Ltd.
• TE Connectivity
• Siemens AG
• Schneider Electric
• Rockwell Automation Inc.
• Parmley Graham Ltd.
• Other Key Players

Recent Development

In January 2022, Allen-Bradley FLEX 5000 was released by Rockwell Automation. It was a new analog safety I/O module. It can assist process operational efficiency in meeting security standards and minimalizing connected downtime risks in various process applications. Rockwell Automation analog safety I/O modules offer a united safety device with systematic abilities up to SC 3. Moreover, they can be fitted in the same I/O bank as usual FLEX 5000 I/O modules. It can help in reducing system complexity and costs.

In June 2021, NVIDIA launched the Jetson AGX Xavier. The reconfigurable AI computing system is designed for mobile edge and fixed devices. It includes last-mile delivery mobile robots, deep learning-based cameras, automated storage and retrieval systems, and inspection drones to function in strict operative conditions. They offer various applications, such as agriculture, manufacturing, construction, governance, and energy.

In June 2021, a new I/O module was designed and launched by Mitsubishi Electric Automation equipment to progress the hazardous environments and industrial environment and output control systems. Its goal is to shrink and manage power converters of renewable energy. The IGBT delivered high competence, less switching loss, low conduction, and rapid switching.

For the Industrial I/O Modules Market research study, the following years have been considered to estimate the market size: