Jan 24, 2023   SOURCE: BusinessWire

Global Communications Interface Markets, 2022-2028 - Opportunities in the Emergence of Industry 5.0 and Rising Adoption of Centralized Manufacturing - ResearchAndMarkets.com

The "Communications Interface Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Mode of Communication, and Application" report has been added to ResearchAndMarkets.com's offering.

The market is expected to reach US$ 10,388.04 million by 2028 and register a CAGR of 8.9% from 2022 to 2028

The continuously growing demand for industrial automation systems across the world has influenced robot manufacturers to raise their investments in developing new and innovative products, boosting communications interface market growth indirectly.

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 communications interface market growth.

The communications interface market in North America showcased significant growth over the years. The wide presence of manufacturing industries and the rapid adoption of advanced and automated technologies by these industries to enhance their manufacturing capabilities are contributing to the communications interface market growth.

The presence of several robot and IoT device manufacturers in the country, such as Universal Robots A/S; Clearpath Robotics Inc.; AgEagle Aerial Systems; and Bastian Solutions, Inc., is further propelling the demand for manufacturing components and subcomponents across the region. These factors are expected to fuel the communications interface market growth in North America during the forecast period.

ABB Ltd., Eaton Corp Plc, Honeywell International Inc, Omron Corp, and Rockwell Automation Inc. are a few communications interface market players operating in the globe.

A few of the major product developments are mentioned below:

  • 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.
  • 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 (2,000 kg); towing; and lifting and transporting containers, racks, and pallets of 4,000 lbs (1,500 kg).
  • In May 2022, FANUC Corporation announced the launch of CRX collaborative robots. This series added three new collaborative robots - CRX-5iA, CRX-20iA/L, and CRX-25iA cobots. The company claims that these robots are safe, reliable, easy-to-use, and versatile solutions for inspection, packing, machine load/unloading, palletizing, and welding.

Key Market Dynamics

Market Drivers

  • Rising Adoption of Automation Technologies Across Industries
  • Increasing Development of Robots

Market Restraints

  • High Operating and Maintenance Costs and Lack of Skilled Laborers

Market Opportunities

  • Emergence of Industry 5.0

Future Trends

  • Rising Adoption of Centralized Manufacturing Among Industries

Company Profiles

  • ABB Ltd.
  • Eaton Corp Plc
  • Honeywell International Inc
  • Omron Corp
  • Rockwell Automation Inc.
  • Gauging Systems, Inc
  • Parker Hannifin Corp
  • PR Electronic AS
  • Socomec Holding SA
  • NXP Semiconductors NV

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