Industrial Communications Market size was valued at USD 312.9 million in 2021, growing at a significant CAGR of 3.2% over 2022-2028. Industrial communication is the key to increased efficiency in every business since it allows the organisation to operate machines and the whole production line, monitor current traffic systems, and control power distribution. The industrial area communication segment anticipated to grow at significant CAGR over the forecast years owing the significant rise in demand for wireless technologies such as Bluetooth Smart, Wireless HART, WLAN, and Zigbee is creating new development potential in the industrial communication industry, primarily in the oil and gas, electronics, and energy and power generating industries. Moreover, the other player are focusing on launching new product for instance In March 2022, Moxa, a leader in industrial communications and networking, launched its next-generation industrial Ethernet switches, the EDS-4000/G4000 Series.
The Recent Industrial Communications Market Developments:
In May 2022, Siemens (Germany) announced its VXLAN transmission technology allows transmission of Profinet IO via a private 5G network, which allows data to be transmitted in real time for industrial applications.