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Industrial Communication Market size is set to grow by USD 81.2 billion from 2024-2028, Rising adoption of IIoT technology boost the market, Technavio

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NEW YORK, June 12, 2024 /PRNewswire/ — The global industrial communication market size is estimated to grow by USD 81.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 11.01%  during the forecast period. Rising adoption of iiot technology is driving market growth, with a trend towards integration of fieldbus with IIoT. However, lack of determinism in industrial communication networks  poses a challenge. Key market players include ABB Ltd., Advantech Co. Ltd., ASUSTeK Computer Inc., Beckhoff Automation GmbH and Co. KG, Belden Inc., Cisco Systems Inc., Emerson Electric Co., FANUC Corp., General Electric Co., Huawei Technologies Co., Ltd., ifm electronic gmbh, Moxa Inc., OMRON Corp., Phoenix Contact GmbH and Co. KG, Physik Instrumente GmbH and Co. KG, Rockwell Automation Inc., Schneider Electric SE, SICK AG, Siemens AG, and Texas Instruments Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Industrial Communication Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 11.01%

Market growth 2024-2028

USD 81.2 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.63

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 49%

Key countries

US, China, Germany, UK, and Japan

Key companies profiled

ABB Ltd., Advantech Co. Ltd., ASUSTeK Computer Inc., Beckhoff Automation GmbH and Co. KG, Belden Inc., Cisco Systems Inc., Emerson Electric Co., FANUC Corp., General Electric Co., Huawei Technologies Co., Ltd., ifm electronic gmbh, Moxa Inc., OMRON Corp., Phoenix Contact GmbH and Co. KG, Physik Instrumente GmbH and Co. KG, Rockwell Automation Inc., Schneider Electric SE, SICK AG, Siemens AG, and Texas Instruments Inc.

Market Driver

The integration of Industrial Internet of Things (IIoT) with Fieldbus is revolutionizing industrial communications, particularly in industries adopting modern systems. This setup provides real-time data, enhances safety and security, and reduces CAPEX and OPEX through Internet-enabled services. Fieldbus integrated with IIoT offers benefits such as minimized downtime, lower total cost of ownership, and direct linking of process instruments. Siemens FOUNDATION Fieldbus H1 and SIMATIC PCS 7 integration provides real-time information and connectivity between production floors and offices.

The demand for advanced industrial communications systems like Fieldbus is expected to grow due to the emergence of IIoT and Industry 4.0 technologies. 

The Industrial Communication Market is experiencing significant growth due to the increasing demand for automation and digitization in various industries. Protocols such as PROFINET, Modbus, and Ethernet are trending in this market. Hart and CANopen are also popular choices for real-time communication in industrial automation.

Devices and systems are becoming more connected, leading to the use of technologies like Wireshark for network analysis and troubleshooting. The use of encryption and security measures is also on the rise to protect industrial communication networks. Additionally, the integration of artificial intelligence and machine learning is expected to further drive market growth. Overall, the Industrial Communication Market is witnessing a surge in demand due to the digital transformation of industries. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

In the industrial communication market, determinism is a crucial factor for ensuring reliable and predictable data transfer in real-time applications. However, Ethernet networks, commonly used in industrial settings, lack determinism due to unpredictable packet travel times and variable paths. This can lead to bandwidth loss, data collisions, and network interruptions, which can negatively impact production processes and onsite safety. The unpredictability of Ethernet networks may hinder their adoption in critical control applications, potentially limiting the growth of the industrial communication market.The Industrial Communication Market faces several challenges in implementing advanced technologies. These include the need for compatibility across various communication protocols and systems, such as Ethernet, Cellular, and Wi-Fi. Additionally, ensuring security and data privacy in industrial communication networks is a significant concern.The use of outdated technology and lack of standardization also pose challenges. Furthermore, integrating artificial intelligence and machine learning into industrial communication systems requires careful planning and execution. Lastly, ensuring interoperability between different systems and ensuring reliability and uptime are essential for industrial communication success.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

Product 1.1 Fieldbus1.2 Industrial Ethernet1.3 WirelessType 2.1 Component2.2 Software2.3 ServicesGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Fieldbus-  The industrial communication market is thriving, driven by the increasing demand for automation and digitalization in industries. Companies are investing in advanced technologies like Wi-Fi, Bluetooth, and cellular connectivity to enhance their production processes and improve communication between machines and workers. This results in increased efficiency, productivity, and cost savings. Additionally, the growing trend of Industry 4.0 and the Internet of Things (IoT) is further fueling the market’s growth.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

In the process industries, efficiency and standardization are key priorities. Human intervention in industrial communication is being minimized through advanced technologies and interfaces. Industrial equipment manufacturers continue to innovate, integrating plug-and-play features and wireless networks for seamless communication. Bluetooth Smart, WirelessHART, WLAN, Zigbee, and other wireless technologies are revolutionizing industrial communication.

The oil & gas industry, in particular, benefits from these advancements, enabling real-time data transfer and reducing human error. IEEE 802 standards ensure compatibility and security in HART communication and cellular technologies. High voltage transients, electrostatic discharge (ESD), surge, burst, and lightning strikes necessitate robust electromagnetic protection for industrial switches. Shock and vibration resistance, as well as air conditioning for device housings, are essential considerations for industrial communication systems. Networking wires must be shielded and protected to maintain data integrity.

Market Research Overview

The Industrial Communication Market encompasses various technologies and solutions that facilitate the exchange of data between industrial equipment and systems. These communications enable efficient and effective manufacturing processes, optimizing production and reducing downtime. Technologies such as WirelessHART, Modbus, and PROFINET are commonly used in industrial communication systems. Additionally, Ethernet and cellular technologies are gaining popularity due to their flexibility and scalability.

The market is driven by the increasing demand for automation and digitization in industries, particularly in sectors like manufacturing, oil and gas, and power and energy. The implementation of Industry 4.0 and the Internet of Things (IoT) is further fueling the growth of the industrial communication market. The market is expected to continue expanding as industries continue to seek ways to improve operational efficiency and productivity.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductFieldbusIndustrial EthernetWirelessTypeComponentSoftwareServicesGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Niutech at the Forefront: U.S.-China Circular Economy Forum Tackles “White Pollution”

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BEIJING, Sept. 20, 2024 /PRNewswire/ — On September 6, 2024, the inaugural U.S.-China Circular Economy Cooperation Forum was held in Beijing. The forum, guided by the U.S.-China Climate Action Working Group Circular Economy Task Force, was co-organized by the China Circular Economy Association and the US-China Business Council. The forum brought together approximately 460 distinguished guests from the National Development and Reform Commission of China, the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Housing and Urban-Rural Development, the Ministry of Commerce, the General Administration of Market Regulation, the US State Department, the US Department of Energy and other government departments, as well as industry experts, business representatives and scientific research institutions of the two countries. As the domestic leader in continuous pyrolysis technology, Niutech was invited by the China Circular Economy Association to attend the forum and gave an insightful speech on the topic of waste plastic recycling, and the issues of ‘white pollution’ that can result from it.

Enhancing Quality and Efficiency in the Circular Economy with Innovative Forces

The forum was strategically designed to advance the goals outlined in the U.S.-China “The Sunnylands Statement on Enhancing Cooperation to Address the Climate Crisis” (hereinafter referred to as the Sunnylands Statement). It aimed to create a collaborative platform for the business community, social organizations, and research institutions from both countries to foster exchanges and drive tangible cooperation in the circular economy.  

Zhao Chenxin, Deputy Director of the National Development and Reform Commission, John Podesta, Senior Advisor to the U.S. President on International Climate Policy, Liu Zhenmin, China’s Special Envoy for Climate Change Affairs, Nicholas Burns, U.S. Ambassador to China, and Xie Zhenhua, former Special Envoy for Climate Change Affairs of China, attended the opening ceremony of the Forum and delivered a speech, and Xie Feng, Chinese Ambassador to the U.S., made a video message. Deputy Director Zhao Chenxin said that addressing climate change is a common cause for all mankind and cannot be separated from the cooperation between the two global forces, China and the United States.

The China-US Circular Economy Cooperation Forum, held as an initiative to implement the Sunnylands Statement, marked another significant milestone in China-US cooperation on the circular economy. This collaboration is crucial for both nations as they join forces to tackle the climate crisis. On the afternoon of September 6, the forum organized four parallel meetings, where representatives engaged in in-depth exchanges on topics such as using the recycling economy to reduce greenhouse gas emissions, promoting the application of recycled materials, addressing plastic pollution and enhancing recycling, and increasing the recycling value of waste in the context of new industries and consumption patterns.

Niutech: International Experts on Continuous Pyrolysis Technology and Pioneers in solving the global “white pollution” problem

Globally, hundreds of millions of tons of waste plastics are generated annually, yet only about 30% undergo recycling. Traditional physical methods are typically limited to high-value, single-category, and relatively clean waste plastics. However, repeated recycling can degrade the quality of the plastics. Chemical recycling, on the other hand, offers a transformative approach by converting waste plastics into high-value products or fuels through chemical processes, thus overcoming the limitations of physical recycling.

Pyrolysis technology, a cornerstone of chemical recycling, addresses the challenges associated with the material recycling of waste plastics. It is adept at processing various types of low-value, mixed, and contaminated waste plastics. The products of pyrolysis can be further processed to manufacture new plastics, achieving a closed-loop system where waste plastics are repurposed into high-value new plastics. This not only retains the material’s utility at a high level but also converts “white pollution” into a “white oil field,” signifying a major shift in the management and valorization of plastic waste.

At the forum, as the international expert in continuous pyrolysis technology, the corporate representative of Niutech shared the cases of waste plastic chemical recycling projects deployed with international giants BASF and Quantafuel in Denmark, Thailand and other countries. Niutech has developed its own pyrolysis technology and equipment, which they fully own the intellectual property rights to. This technology enables the transformation of low-value, mixed, and contaminated waste plastics—including various polymers such as PP, PE, PS, ABS—into high-quality fuel oil.  

The fuel oil derived from this process can undergo further refining into naphtha, a critical raw material in the production of new plastics. This advanced recycling process not only diverts plastics from landfills and the environment but also contributes to a circular economy by turning waste into a valuable resource.

In the future, Niutech will continue to champion the principle of “green, recycling and low-carbon” waste plastics pyrolysis. Armed with advanced technology, reliable equipment, abundant high-value solutions and proven experience, Niutech is committed to enhancing communication and cooperation with domestic and foreign partners. Together, they will drive forward the chemical recycling of waste plastics and the sustainable development of the global waste plastics recycling industry.

 

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SOURCE Niutech

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Global Ultrasound Institute Launches GUSI Fellowships Platform: Elevating Point-of-Care Ultrasound Education

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SAN FRANCISCO, Sept. 20, 2024 /PRNewswire/ — The Global Ultrasound Institute (GUSI) is proud to announce the launch of the GUSI Fellowships Platform, an innovative online platform designed to empower learners around the world to achieve confidence and competency in point-of-care ultrasound (POCUS). With a holistic, device-independent approach that includes comprehensive evidence-based education, personalized mentorship from world-class POCUS educators, detailed scan review feedback, quantitative assessments, and CME certification, GUSI is setting a new standard in POCUS education.

“GUSI’s online didactics are the best that I have seen. And what I like most about the fellowship were the 1:1 sessions and being able to interact with GUSI expert faculty who have many years of experience in POCUS. And you get to pick their brains and they get to instruct you 1:1. I have used the training I received from GUSI to do much more POCUS clinically and further impact my patients lives.”

Dr. James Wilcox,
Assistant POCUS Director, Indiana University School of Medicine
Adjunct Professor and Assistant Professor of Medicine

“Our mission at GUSI is to democratize access to high-quality ultrasound training,” said Dr. Kevin Bergman and Dr. Mena Ramos, Co-CEOs of Global Ultrasound Institute. “The GUSI Fellowships Platform enables learners from diverse backgrounds to enhance their skills in a supportive, flexible environment, making it easier than ever to reach their POCUS goals.”

With training options covering 38 different scan types, learners can expect personalized 1:1 mentorship with expert POCUS educators who provide timely feedback on practice scans.

“The GUSI fellowship mentors are the best: patient, kind, knowledgeable, experienced, and supportive. GUSI provided education in the areas I wanted and needed to obtain and in my home/office environment not requiring multiple trips around the country. It is not just the way course work is presented – learning is made easier by the support provided to each student.”

Dr. Glenda Patterson
Core Faculty, University of Arkansas Northwest Internal Medicine Residency
Physician, Veterans Health Care of the Ozarks
Board-certified in Internal Medicine, Pulmonary Medicine, and Critical Care Medicine

The GUSI Fellowships Platform features a scalable software system designed to monitor and track performance, ensuring learners can effectively measure their progress.

GUSI understands the challenges faced by healthcare professionals seeking to enhance their ultrasound skills amid demanding schedules. GUSI addresses these concerns with flexible scheduling options, allowing learners to progress at their own pace while balancing their professional and personal commitments. This adaptability and virtual experience is crucial for fostering a culture of continuous learning and skill development.

“I went from not being able to hold the probe to someone who can scan and diagnosing and finding pathologies. I worked with Dr. Milne-Price and she was amazing! She sharpened my skills and we did sessions of live scanning over Zoom. I feel confident in my skills now to scan on my own.”

Dr. Dalea Al-Hawarri
Faculty, Bryn Mawr Family Medicine Residency

As healthcare continues to evolve, the demand for proficient ultrasound practitioners has never been greater. GUSI is not only committed to providing exceptional education but also aims to inspire a new generation of healthcare professionals who can leverage POCUS to improve patient outcomes globally. Join us in this exciting journey towards excellence in ultrasound practice.

For more information on GUSI Fellowships and to start your journey toward ultrasound proficiency, visit https://globalultrasoundinstitute.com/.

About Global Ultrasound Institute:

Global Ultrasound Institute stands at the forefront of point-of-care ultrasound, providing wraparound education, training, AI, and administrative software tools to healthcare providers and health systems globally to lower barriers to POCUS adoption and implementation. GUSI has trained over 14,000 healthcare practitioners in over 60 countries. GUSI is working to create a better world in which every healthcare practitioner is empowered to offer a rapid, reliable, accurate ultrasound-enabled diagnosis directly at the point-of-care, for any patient, anywhere.

For more information about GUSI Fellowships or any of GUSI services, please visit https://globalultrasoundinstitute.com/

Contact:

Dr. Kevin Bergman, Co-Founder, co-CEO, Global Ultrasound Institute
Dr. Mena Ramos, Co-Founder, co-CEO, Global Ultrasound Institute

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SOURCE GLOBAL ULTRASOUND INSTITUTE

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Keuka College Notifies Individuals of Data Security Incident

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KEUKA PARK, N.Y., Sept. 20, 2024 /PRNewswire/ — Keuka College has learned of a data security incident that may have involved personal information.

On April 25, 2024, the College identified suspicious activity within its network environment and immediately took steps to secure the environment, restore its systems, and began an investigation to determine the nature and scope of the issue. Keuka College also engaged independent cybersecurity specialists to assist with the process. The comprehensive investigation, which concluded on August 21, 2024, could not determine definitively whether personal information related to current and former students and employees was affected.

Keuka College maintains a variety of records which can include: name, Social Security number, Driver’s license number, student id number, financial account information, and date of birth. Current students and employees were contacted by the College in May and provided with one year of free credit and identity monitoring services.

Keuka College has established a toll-free call center to answer questions about the incident and address related concerns. Call center representatives are available Monday through Friday from 9:00 am to 9:00 pm Eastern Time and can be reached at 1-833-913-7557. Please be prepared to provide the engagement number, B131983, for reference.

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SOURCE Keuka College

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