According to a recent market study published by Growth Market Reports, titled, “Global Remote I/O devices Market” by Product Type (Compact I/O, Field I/O, and Modular I/O), by End-user (Aerospace, Automotive, Chemical, Energy & Power, Food & Beverage, Healthcare, Metals & Mining, Oil & Gas, Packaging, Semiconductor & Electronics, Others): Size, Share, Trends, and Opportunity Analysis, 2015-2030”, the market was valued at USD 2,559.9 Million in 2021 and is expected to grow at a CAGR of 6.2% by the year 2030.

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As per Growth Market Reports industry analysts Sakshi Bhoyar and Vineet Pandey “Global Remote I/O devices Market are anticipated to witness significant growth during the forecast period 2022-2030. The market in North America is expected to expand at a CAGR of 6.2% during the forecast period. This growth is attributed to the increasing focus on industrial automation.

Moreover, the presence of automotive, aerospace & defense, and industrial manufacturing verticals in the region is expected to pave growth prospects for remote I/O devices during the forecast period.

Remote I/O is a solution when I/O modules need to be placed close to the field devices in order to remove long lengths of multi-conductor cable. With remote I/O, signals are received from faraway sensors, and control signals are sent long distances to control motors, valves, and other final actuators. The global remote I/O devices market is anticipated to grow at a significant pace during the forecast period. This growth is attributed to the growing focus on factory and industrial automation. Increasing demand for remote I/O module, as it provides diverse hardware configuration options and simplified configuration and monitoring, is expected to fuel the market in the coming years.

Key factors that are anticipated to fuel the demand for the Global Remote I/O Devices Market during the forecast period, remote I/O module technology provides access to sensor-level data in difficult-to-reach areas. Conversely, the inefficiency of I/O devices in high-speed or motion control applications is hampering the growth of the market. Impact of industry 4.0 on remote I/O devices is creating lucrative opportunities for market players.

The value chain concept disaggregates a firm into the various activities it performs. Conceptualizing from the firm level, this concept has been applied to industries as a whole. The resulting unified merchant-embedded computing value chain comprises activities such as strategy, defining scope, user documentation, marketing, implementation, training & certification, maintenance & support, subscription, licensing, and operations. Developers, outsourcing companies, resellers, marketing companies, and license issuers have different profit margins that vary depending on the material, product, sizes, and prices, offered by the company.

The primary, as well as secondary research methodology, is used for keen observation and study of the global remote I/O devices market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects.

Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, and current & future trends done by the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess experience of around 10-20 years in the industry. On the other hand, the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs.

Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The COVID-19 pandemic has highlighted economic disparities in the global demand in the crises of global interdependence and governance challenges. Epidemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. According to the current pandemic situation, strict measures are required for monitoring the situation, which in turn, affects businesses causing unanticipated short and long-term effects.

Consequently, epidemics and pandemics are problems for the individual market and an enhancement of existing dynamics and limitations. In the long term, COVID-19 can serve as another opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally. In the current scenario, COVID-19 is somewhat hampering the production process of several manufacturing industries and businesses. Moreover, trade barriers are further reducing the demand-supply of various products and services. However, the reduction in outdoor activities and social distancing has created lucrative opportunities for the market.

Key Takeaways from the Study

  • The key players in the market include ABB, Brainboxes Limited, Eaton, Emerson Electric Co., Mitsubishi Electric Corporation, Moxa Inc., OMRON Corporation, Pepperl+Fuchs AG, Rockwell Automation, Inc., Siemens, IPC2U, Hans Turck GmbH & Co. KG, Renesas Electronics Corporation, R. STAHL AG, Autonics Corporation, and Beckhoff Automation.

  • The modular I/O segment is projected to hold 52.4% share of the global remote I/O devices market in 2021. Compact I/O is ideal for applications with high-processing requirements. Moreover, the flexible configuration offered by compact I/O is expected to fuel the segment during the forecast period.

  • The automotive segment held 19.1% share of the market in 2021 and is expected to hold 21.6% share of the market during the forecast period. This growth is attributed to the growing smart vehicle architecture across the globe.

  • In terms of regions, the Global Remote I/O devices Market is classified as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period, owing to the growing focus on factory automation which is expected to fuel the market in the region during the forecast period. Improved remote I/O devices provide a platform to support actuators and sensors. This factor is expected to boost the adoption of remote I/O devices in Asia Pacific in the coming years.

Report Scope

Report Metric

Details

Market Value in 2021

USD 2,559.9 Million

Market Growth Rate (from 2022 to 2030)

6.2%

Historical Data

2015-2020

Base Year

2021

Forecast Period

2022 – 2030

Units Considered

Value (USD Million)

Market Segments

By Product Type, By Industry, and By Region

Key Companies Profiled

ABB, Brainboxes Limited, Eaton, Emerson Electric Co., Mitsubishi Electric Corporation, Moxa Inc., OMRON Corporation, Pepperl+Fuchs AG, Rockwell Automation, Inc., Siemens, IPC2U, Hans Turck GmbH & Co. KG, Renesas Electronics Corporation, R. STAHL AG, Autonics Corporation, and Beckhoff Automation.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Product Manufacturers and Suppliers or Distributors

  • Demand Side: End-use Industry (Aerospace, Automotive, Chemical, Energy & Power, Food & Beverage, Healthcare, Metals & Mining, Oil & Gas, Packaging, Semiconductor & Electronics, Others)

  • Regulatory Side: Concerned government authorities, and other regulatory bodies.