I/O Modules I/O Module Market for Process Automation to Grow at Slower Pace
The automation market is ailing: With slower growth in emerging markets, the number one demand driver Asia is the region that everybody looks upon - but for how long? Here is the forecast of process automation I/O module market.
A new ARC research study, ‘Process Automation I/O Modules Global Market Research Study’ shows that the market for process I/O module sales grew in 2012. However, it was slower than in the previous two years. In 2013, ARC expects the growth to stay at a low level, but will pick up pace in 2014 and beyond.
Process Automation I/O Module Market: The Current Scenario
The market for process I/O modules is mainly driven by two forces, an increasing need for intrinsically safe I/O modules and the increasing demand from the Middle East and the BRIC countries. While the market is large in Europe, Japan and North America and is expected to remain large the growth regions will be Latin America, the Middle East and parts of Asia, namely China, India, Vietnam, Korea, Thailand, Indonesia and some other countries. Looking at specific hardware types, intrinsically safe I/O modules, network adapters, and intelligent I/O will grow above the market average.
“The product portfolio of many suppliers of I/O modules shows a broad bandwidth of different types. While big suppliers leverage theirinstalled base, third-party suppliers of process I/O modules concentrate on specialized I/O modules and compatible I/O modules that fit to the control systems of the big suppliers,” said Principal Author, ARC Advisory Group, Stefan Miksch.
New Technologies Don't Change Markets Over Night
These modules are not new nor have they changed in how they work. The increasing amount of installed automation even in harsh and explosive environments makes intrinsically safe components essential. In turn, the demand for these safe process modules will grow above average and continue to do so.