Report : South America 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 7.1% CAGR, the South America Communications Interface Market is speculated to be worth US$ 438.38 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South America communications interface market was valued at US$ 289.82 million in 2022 and is expected to reach US$ 438.38 million by 2028, registering a CAGR of 7.1% from 2022 to 2028. Rising adoption of automation technologies across industries and increasing development of robots are the critical factors attributed to the South America communications interface market expansion.
The rising awareness of the benefits of automation across the region has influenced the adoption of the South Americae across industries such as manufacturing, automotive, mining, and food & beverages. The growing demand for automobiles has increased the requirement for automation systems as it helps speed up production while decreasing the manufacturing cost and risk to human workers. This is influencing the adoption of collaborative robots, robotic arms, and the Internet of Things (IoT), across the automotive industry. Additionally, the mining industry is constantly focusing on automation to improve its mining processes and reduce injuries at work. The adoption of several connected devices across mines enables the interpretation of data on a real-time basis, reduces operational costs, and enables centralized control of mining fleets. Hence, the rising adoption of automation across industries is fueling the demand for connected devices and other automation solutions, thereby contributing to the growth of the South America communications interface market.
On the contrary, high operating and maintenance costs and lack of skilled laborers hurdles the growth of South America communications interface market.
Based on product, the South America communications interface market is segmented into 1-Port, 2-Port, and others segment. The 2-Port segment held 46.9% market share in 2022, amassing US$ 136.03 million. It is projected to garner US$ 207.30 million by 2028 to expand at 7.3% CAGR during 2022–2028.
Based on mode of communication, the South America communications interface market is segmented into wired and wireless & hybrid. The wired segment held 62.1% market share in 2022, amassing US$ 180.05 million. It is projected to garner US$ 267.58 million by 2028 to expand at 6.8% CAGR during 2022–2028.
Based on application, the South America 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 43.4% market share in 2022, amassing US$ 125.88 million. It is projected to garner US$ 200.07 million by 2028 to expand at 8.0% CAGR during 2022–2028.
Based on country, the South America communications interface market is segmented into the Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 50.8% market share in 2022. It was assessed at US$ 147.28 million in 2022 and is likely to hit US$ 228.88 million by 2028, exhibiting a CAGR of 7.6% during the forecast period.
Key players dominating the South America 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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