Report : Europe Communications Interface Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (1-Port, 2-Port, and Others), Mode of Communication (Wired and Wireless & Hybrid), and Application (Industrial Networking, Battery Monitoring System, Remote Sensors Communication, Railway Signalling System, Machine to Machine Communication, and Others)
At 9.0% CAGR, the Europe Communications Interface Market is speculated to be worth US$ 3,152.77 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe communications interface market was valued at US$ 1,881.56 million in 2022 and is expected to reach US$ 3,152.77 million by 2028, registering a CAGR of 9.0% from 2022 to 2028. Increasing Development of robots and rising adoption of automation technologies across industries are the critical factors attributed to the Europe communications interface market expansion.
The continuously growing demand for industrial automation systems across the region has influenced robot manufacturers to raise their investments in developing new and innovative products. For instance, In September 2022, Fanuc Corporation announced the launch of new FANUC SCARA robots for food and cleanroom applications. The FANUC SR-3iA/C and SR-6iA/C are fast and precise SCARA robots. Further, in September 2022, ABB Ltd launched flexible mobile robots. These robots are designed to carry out tasks such as trolley transportation of up to 5,350 lbs (2000 kg); towing; and lifting and transportation of containers, racks, and pallets of 4,000 lbs (1,500 kg). The rising development of new and advanced robots is increasing the demand for robot components such as control systems, manipulators, locomotive devices, PLCs, and DCS. Thus, the increasing demand for feedback devices like PLCs is driving the need for communication interfaces, thereby contributing to the Europe communications interface market growth.
On the contrary, high operating and maintenance costs and lack of skilled laborers hurdles the growth of Europe communications interface market.
- Based on product, the Europe communications interface market is segmented into 1-Port, 2-Port, and others segment. The 2-Port segment held 45.4% market share in 2022, amassing US$ 854.21 million. It is projected to garner US$ 1,431.49 million by 2028 to expand at 9.0% CAGR during 2022–2028.
- Based on mode of communication, the Europe communications interface market is segmented into wired and wireless & hybrid. The wired segment held 55.8% market share in 2022, amassing US$ 1,049.55 million. It is projected to garner US$ 1,724.55 million by 2028 to expand at 8.6% CAGR during 2022–2028.
- Based on application, the Europe communications interface market is segmented into industrial networking, battery monitoring system, remote sensors communication, railway signalling system, machine to machine communication, and others. the remote sensors communication segment held 37.7% market share in 2022, amassing US$ 708.99 million. It is projected to garner US$ 1,237.13 million by 2028 to expand at 9.7% CAGR during 2022–2028.
- Based on country, the Europe communications interface market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 33.3% market share in 2022. It was assessed at US$ 625.70 million in 2022 and is likely to hit US$ 1,109.24 million by 2028, exhibiting a CAGR of 10.0% during the forecast period.
Key players dominating the Europe communications interface market are ABB Ltd, Eaton Corp Plc, Honeywell International Inc, NXP Semiconductors NV, OMRON Corp, Parker Hannifin Corp, PR Electronics AS, Rockwell Automation Inc, and Socomec Holding SA, among others.
- In 2022, Parker Hannifin recently announced a new PAC motion controller and module series with web-based visualization for instant remote monitoring of up to 40 motion axes. The controller module contains numerous industry-standard communication and capability options, much like a modern PLC or other motion controllers. The primary communication interface is EtherCAT, with a secondary isolated Fieldbus port providing access to either a second EtherCAT network, Ethernet/IP (supporting Modbus TCP), or PROFINET I/O, depending on the specific model.
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