Rise in Investments in Smart Grid to Boost the Global Remote I/O Modules Market Through 2021, Reports Technavio

Technavio has published a new report on the global remote input/output modules market from 2017-2021. (Photo: Business Wire)

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LONDON--()--Technavio market research analysts forecast the global remote input/output modules market to grow at a CAGR of close to 6% during the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the global remote input/output (I/O) market for 2017-2021. The remote I/O modules market is divided into three controller types PLC-based remote I/O, DCS-based remote I/O, and Industrial PC-based remote I/O, with the PLC and DCS segments together accounting for more than 94% of the market in 2016.

According to Bharath Kanniappan, a lead analyst at Technavio for automation research, “The growth of the remote I/O modules can be attributed to the initiatives taken by governments worldwide to modernize traditional power grids into smart grids. The upgrade to smart grids arises out of a need for grid reliability, protection against cyber-attacks, and flexibility to suit the rapid changes in supply and demand.”

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Technavio industrial automation analysts highlight the following three market drivers that are contributing to the growth of the global remote I/O market:

  • Rise in investments in smart grids
  • Proliferation of Ethernet-based remote I/O modules in process and discrete automation
  • Increased use of open-source software for programming remote I/O modules

Rise in investments in smart grids

Smart grids are being increasingly deployed at a fast pace globally. Countries such as India, the US, China, France, Spain, and Germany are implementing their ambitious, smart grid plans. Smart grids include grid applications such as I/O modules and related equipment, smart energy meters IT, and other communication networks. These devices provide utilities with complete control in managing digital assets present in the field.

“The increased spending in smart grids will give a significant boost to the global remote I/O modules in the power industry during the forecast period,” says Bharath.

Proliferation of Ethernet-based remote I/O modules in process and discrete automation

Ethernet is currently dominating the industrial communication market by aiding the automation control manufacturers in developing stand-alone and integrated systems for their respective control architectures. These individually developed control structures are now made open architectures to support multiple components and devices and other I/O module integration. Shipments of I/O modules based on Ethernet accounted for close to 30% of total shipments in 2015 and are expected to reach 35% of total shipments in 2020.

Increased use of open-source software for programming remote I/O modules

An open-source industrial automation software is an independent platform that provides a set of tools for development and implementation. The open platform-based industrial automation software provides an alternative to expensive in-house design. It offers development libraries, interface applications, mass configuration tools, and front and back-end applications.

Open programming software helps in faster application development, reduces commissioning time, and reduces life cycle costs. It also allows the application software to be independent of the I/O manufacturer and reusable over multiple projects. It uses a component-based approach to reducing programming errors and supports a wide range of customer specific requests without the extra cost of redesign. Also, it improves the software quality by using highly structured software that is validated and improved over multiple projects.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio market research analysts forecast the global remote input/output modules market to grow at a CAGR of close to 6% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com