How big is the IO-Link System Market?

The IO-Link System Market size is expected to reach USD 14.01 billion in 2024 and grow at a CAGR of 25.10% to reach USD 42.93 billion by 2029. Read More

What is the current IO-Link System Market size?

In 2024, the IO-Link System Market size is expected to reach USD 14.01 billion. Read More

Who are the key players in IO-Link System Market?

Balluff, IFM Electronics, Omron, Siemens and Festo are the major companies operating in the IO-Link System Market. Read More

Which is the fastest growing region in IO-Link System Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in IO-Link System Market?

In 2024, the North America accounts for the largest market share in IO-Link System Market. Read More

What years does this IO-Link System Market cover, and what was the market size in 2023?

In 2023, the IO-Link System Market size was estimated at USD 10.49 billion. The report covers the IO-Link System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the IO-Link System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

IO-Link System Market Size & Share Analysis - Industry Research Report

IO-Link System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The IO-Link System Market is Segmented by Component Type (IO-Link Master, IO-Link Device), End-User Application (Machine Tools, Intralogistics, Packaging, Assembly Line), End-User Industry (Discrete, Process), and Geography (North America, Europe, Asia-Pacific, Rest of the World). The Market Sizes and Forecasts are Provided in Terms of Value in USD for all the Above Segments.

IO-Link System Industry Overview

The competitive rivalry in the IO-Link System market is moderately high, as the market comprises many large vendors that command a prominent market share besides having access to well-established distribution networks. Major vendors in the market studied are involved in M&A activities and partnerships to gain higher penetration and market share. Some prominent vendors in the market include Balluff, Siemens, Endress + Hauser, Rockwell, etc.

In July 2022, Endress+Hauser expanded its location in Switzerland. The company erected a building almost 150 meters long at the Reinach site. Located in the new building are Endress+Hauser Flow, the competence center for flow measurement technology, and Endress+Hauser Digital Solutions, responsible within the group for all topics relating to digital communication and automation solutions.

In March 2022, Balluff added a wireless solution to its extensive IO-Link portfolio. Instead of cables, the wireless master receives the sensor data by radio via a bridge or hub. The wireless IO-Link variant can be used in dynamic, fixed, and mobile applications.