Research Reports
I/O-Link Market register 8.2% CAGR between 2022 and 2027
Published by maria gbaf
Posted on January 26, 2022
4 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on January 26, 2022
4 min readLast updated: January 28, 2026
The I/O-Link market is projected to grow at an 8.2% CAGR by 2027, driven by industrial automation and challenges like supply chain disruptions.
The I/O links market displayed a very promising 12.2% y-oy- growth rate in 2019. However, the coronavirus pandemic has caused significant changes in the industry landscape. Factories around the world have been forced to suspend operations. Further, the health concerns among employees in the industry has resulted in a shortage of workers. Consequently, disruptions in hardware supply chains will continue through the pandemic period and restrict market prospects in the short term.
I/O link market revenues surpassed US$ 3.5 billion in 2018 and expected to grow at an impressive 12.2% y-o-y in 2019, as per FMI’s new study. Key factors responsible for the impressive growth of I/O link market include,
IO-Link technology enables communication from the for industrial automation including actuators, sensors, modules, read heads, and RFID among others, which will gain traction through the forecast period with industry 4.0 settings,’ says the report by FMI.
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I/O Links Market – Primary Takeaways
I/O Links Market – Growth Factors
I/O Links Market – Major Constraints
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The Projected Impact of Coronavirus
The complete impact of the coronavirus pandemic on the I/O links market is not clear as yet. The manufacturing process continues to be largely manual, which in turn hints at a slower market recovery, as workers are less inclined to operate in environments which contribute to health risks. Also, China is going through a second wave of coronavirus cases, which will hurt market prospects in the months ahead. Alternative sourcing and government bailouts are expected to be important for the industry throughout the crisis period.
Competition Landscape
The I/O Links market comprises players including but not limited to ifm electronic FZC, Leuze electronic GmbH, Balluff GmbH, SICK AG, Siemens AG, OMRON Corp., Hans TURCK GmbH, Pepperl + Fuchs, Banner Engineering, and Rockwell Automation Inc.
Participants in the I/O Links market are primarily interested in research and development initiatives to for product innovations and launches to boost product portfolios and scope of functionality.
For instance, Balluff GmbH has revealed a new smart level sensor with I/O link for high conductive fluid applications. Hans Turck GmbH has unveiled an IP67 I/O module for integration into process automation applications. Also, SMC Corporation of America has announced the launch of a wireless I/O link master for remote motion control settings.
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Key Segments
By Component
By Vertical
By Application
More About the Study
The FMI study provides detailed insights on I/O Links market. The market is broken down in terms of component (I/O link devices and I/O link masters), vertical (semiconductor and electronics, automotive, medical, and others), and application (handling assembly automation, intralogistics, machine tools, and packaging), across six key regions (North America, Latin America, Europe, APEJ, Japan, and MEA).
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The article discusses the growth and challenges of the I/O-Link market, projecting an 8.2% CAGR by 2027.
Industrial automation and Industry 4.0 settings are key drivers of the I/O-Link market growth.
Supply chain disruptions and lack of international standardization are major challenges.
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