Global I/O modules market is
expected to witness lucrative growth over the coming six years. The increasing
demand for safe I/O modules, stringent government, and industrial safety
standards for usage and rising demand for reduced wiring cost are the drivers
contributing to the market growth. In addition, reduced start-up machine time
and small sizes devices for easy handling also anticipate the demand for the
global I/O module market.
The various technological
advancements, variable designs, and adoption of Ethernet I/O modules are also
the factors leading to the market growth. Furthermore, industrial Internet of
Things (a network of physical objects such as buildings, devices, and vehicles
which facilitate these objects to collect and exchange data.) also drives the
market growth. The increasing trend towards automation, internet of things,
digitalization and virtualization of the plant, remote asset management, and
energy management are increasing the demand for controlling and measuring of
modules.
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The new safety I/O modules offers the advantages of
traditional distributed I/O safety systems. These new modules help in the
easier control and monitor the devices safely. Also, it detects failure of
modules at the field device levels and at I/O levels and, enhance the operator
protection. The Lumberg Automation Company has introduced its new safety I/O
module named as LioN-Link. It allows the safety-related outputs and do not
require any additional terminal box, unlike other I/O systems. This device
saves time and money of the users. Hence, making the device cost-effective and
user-friendly.
The major trend of the global I/O module market is the
introduction of high-speed I/O modules coupled with high-speed Ethernet-based
networks so as to work efficiently. The growth of the market is also dependent
on the growth of automation controller market. An Increasing number of
manufacturing companies for automation controller increases the need for I/O
modules.
The market is classified on the basis of types into a
digital module, analog module, power supply & chassis, network adaptor and
intelligent I/O. On the basis of application, it is segmented into automobile
industry, healthcare, energy & power, manufacturing industries and
transportation industry. Among these applications, the automobile industry is
estimated to hold the largest segment due to the dependency of modules on the
automation controller market.
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