Global Intelligent Modules Market 2017-2021
About Intelligent I/O Modules
I/O modules are devices that connect field devices, such as drives, actuators, and sensors with controllers, such as PLC, DCS, and industrial PCs. Intelligent I/O modules are also called specialty I/O modules or functional I/O modules. These are defined as devices which have their own processors independent of the controller's processor and act as a connection between the peripherals and the controllers. These I/O modules are basically used in function-specific applications like speed control, humidity control, temperature control, and others. Process industries are expected to contribute more to the global I/O modules market with a share of nearly 80% by revenue. The major industries contributing to the global I/O modules market are power, water and wastewater, oil and gas, food and beverages, automotive, and pharmaceutical.
Technavio’s analysts forecast the global intelligent I/O modules market to grow at a CAGR of 6.19% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global intelligent I/O modules market for 2017-2021. To calculate the market size, the report considers the sales.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Intelligent I/O Modules Market 2017-2021
Technavio recognizes the following companies as the key players in the global intelligent I/O modules market: ABB, Advantech Corporation, Bihl+Wiedemann, Rockwell Automation, and Siemens.
Other Prominent Vendors in the market are: Acromag, Beckhoff Automation, Eaton, Festo, GE, Mitsubishi Electric, OMRON, Turck Automation, WAGO, and Yokogawa.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Wireless intelligent I/O modules with cloud connectivity. Wireless intelligent I/O modules are basically used for operation and control of field instruments. To ensure the ease of interoperability between field devices, the wireless intelligent I/O modules are equipped with high-speed data transfer standards of the Institute of Electrical and Electronics Engineers (IEEE) 802.11. A broad range of wireless intelligent I/O modules are used in discrete industries that follow developments of Industry 4.0. The specialty of wireless intelligent I/O modules is that these modules can be used without the need for the gateway and have their own microprocessors independent of the PLC's microprocessor.”
According to the report, one of the major drivers for this market is Reduction in prices of raw materials. The major raw materials used in the manufacturing of intelligent I/O modules are copper windings, electrical steel, and insulation materials. All these materials constitute nearly 50% of the total manufacturing cost. Out of these, copper windings and electrical steel constitute 40% of the total intelligent I/O module cost. The decline in raw material costs results in lowering the manufacturing cost, thereby increasing the adoption of intelligent I/O modules in the end-user industries. The graph below shows the declining trend of raw material costs.
Further, the report states that one of the major factors hindering the growth of this market is Security concerns due to vulnerable I/O connections. The integration of industrial control systems, such as programmable logic controller (PLC), distributed control system (DCS), and supervisory control and data acquisition (SCADA), with business systems, such as enterprise resource planning (ERP) and customer relationship management (CRM), makes the system sensitive to cyber-attacks. Transmission control protocol/Internet protocol (TCP/IP) networking is the common protocol used to connect control systems and business systems. These systems are vulnerable to cyber-attacks due to vulnerable remote I/O connections, standardization of technologies, and easy availability of technical information over the Internet.
ABB, Advantech Corporation, Bihl+Wiedemann, Rockwell Automation, and Siemens. Acromag, Beckhoff Automation, Eaton, Festo, GE, Mitsubishi Electric, OMRON, Turck Automation, WAGO, and Yokogawa.
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