IO-Link technology Market Will Reflect Significant Growth Prospects during 2018-2028

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Global IO-Link technology Market: Introduction – IO-Link technology facilitates communication between actuators, smart sensors, IO hubs and IO links. IO-Link technology is the first standardized IO technology that allows this communication worldwide. IO-Link technology is a powerful point-to-point communication technology based on long-established actuator connection and 3-wire sensor. IO-link is a result of continued development of tried, tested and existing technologies for actuators and sensors. Actuators and sensors become active process participants in an end-to-end automation network. Thus, the IO-Link technology integrates sensors by connecting the IO-link enabled device with an IO-link master module. With the help of IO-Link technology, a person can directly deliver data from a sensor into a control system in an efficient way.

The goal of IO-Link technology is to improve the capabilities of field level device communication through a standardized interface. By understanding the capabilities and limitations of IO-Link technology, automated system engineers can decide whether it is a worthwhile investment for their company or not. In IO-Link technology, the data is generally transmitted from the master device through a higher level field bus communication protocol to a PLC or industrial computer. The parameter data and configuration of IO-Link technology devices can be stored, viewed and changed directly through the PLC or via simple-to-use software configuration tools.

Global IO-Link technology Market: Dynamics – Simplified standardization, reduced down time and increased efficiency are some of the major factors driving the growth of the IO-Link technology. IO-Link technology devices use an IO Device Description (IODD). This description file contains information about article number, functionality, manufacturer, etc. Thus, this information helps in easy handling of IO-Link devices, which is another factor that will propel the growth of the IO-Link technology market over the projected period. Furthermore, advanced functions of IO-Link technology, such as advanced sensor diagnostics, device verification, parameter storage, application-specific tags and acyclic read/write parameter access, are also contributing towards the growth of the IO-Link technology market.

However, analog systems are very expensive and it is mandatory to update these systems. Thus, high cost of updating these systems is one of the major factors hindering the growth of the IO-Link technology market. Moreover, system costs are also rising due to complicated device integration, which is another factor restraining the growth of the IO-Link technology market.

Global IO-Link technology Market: Segmentation – The global IO-Link technology market can be segmented on the basis of components, use, application and region. IO-Link technology market, by component : I/O-Link Masters, I/O-Link Devices; IO-Link technology market, by use Machine Tools, Handling Assembly Automation, Intralogistics, Packaging; IO-Link technology market, by applications : Semiconductor and Electronics, Medical, Automotive, Other Applications

Global IO-Link technology Market: Competition Landscape – Key Vendors : Some of the key vendors in the IO-Link technology market are Rockwell Automation, Inc., Hans TURCK GmbH Co. KG, Leuze electronic GmbH + Co. KG, OMRON Corporation, Festo AG & Co. KG., Pepperl+Fuchs, SICK AG, Siemens AG, Datalogic S.p.A., ifm electronic FZC, Balluff GmbH and Banner Engineering.

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