IO-Link Market Share

European Market Forecast

IO-link market in Europe region is projected to hold largest revenue share of about 35% during the forecast period. This expansion is expected to be aided by the huge number of businesses in the automotive, aerospace & military, and industrial manufacturing sectors in Germany and the United Kingdom. A further important reason that is anticipated to bode well for the regional IO-link market is the increasing need in the manufacturing sector, particularly in France and the U.K., for industrial automation and IoT-connected devices. By 2022, there will be almost 2.7 billion IoT connections in Europe, therefore it's safe to say that the phenomenon is undoubtedly permeating our homes and daily lives.

North American Market Statistics

IO-link market in North America region is attributed to hold second largest revenue share of about 28% during the forecast period. The United States and Canada have developed packaging industries, which is expected to support the expansion of the IO-link technology market in North America in the next years. Automation solutions are used by the industry to start a variety of packaging operations, including product shipment, handling, storage, and sorting. Numerous benefits are offered by this technology, including quick returns on investment (ROI), safe commissioning, dependable packaging procedures, enhanced remote diagnosis, and simple access to the final packaging machinery.