Global IO-Link Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

Global IO-Link Market Growth

The demand for IO-links is being influenced by the growth of the Industrial Internet of Things (IIoT). An average factory present anywhere in the world is aged around 25 years, and it relies on disconnected machines that are around 9 years old. Globally, around 77% of all organisations have limited resources and technological know-how to track their excessive power consumption patterns. As per the American Society for Quality, the digitisation of processes by manufacturing companies has led to an 82% improvement in overall efficiency and 45% in customer satisfaction. There has also been a 49% reduction in product defects. This is expected to prompt an increasing number of producers to switch towards digitally advanced factories, thereby increasing the IO-link market value in the upcoming years.

Frontier connectivity ensures reliable, low-latency, and wireless communication between assembly lines across different manufacturing plants, which can add a value of USD 200 billion to the global manufacturing industry by reducing defects and preventing breakdowns and rework. Moreover, the introduction of next-generation autonomously guided vehicles, which can make sophisticated coordination and navigation decisions in real-time, is expected to drive the rate of IO-link market development. This can have a potential economic impact worth USD 130-USD 200 billion on global GDP.

Key Trends and Developments

Global IO-Link Market Trends

Smart manufacturing technologies have significantly impacted production-defined industries. As per the market analysis, global enterprises invest 3.24% of their revenue towards building 40% additional smart factories during 2020-2023. This is nearly 1.7 times higher than the investment made during 2016-2019, indicating the numerous possibilities for the IO-link market expansion. Moreover, machine-to-machine connections supporting IoT applications support over 50% of the world’s connected devices (28.5 billion), due to which IO-links are expected to become increasingly important.

Global IO-Link Industry Segmentation

Global IO-Link Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the demand for IO-link in the Asia Pacific is estimated to grow at a CAGR of 23.3% due to the rapid industrial automation of manufacturing processes in countries such as India and China. Moreover, as per the IO-link market analysis, the large-scale deployment of 5G networks is also expected to facilitate the market growth in the forecast period.

Leading Companies in the Global IO-Link Market

The rapid shift towards industrial automation solutions is expected to fuel the IO-link market revenue over the forecast period.

Balluff GmbH

Balluff GmbH was founded in 1921 and is headquartered in Baden-Württemberg, Germany. It specialises in the production of object detection sensors, RFID tags, and IO-links.

Beckhoff Automation GmbH & Co. KG

Beckhoff Automation GmbH & Co. KG was founded in 1953 and is headquartered in Verl, Germany. It is a...

Belden Inc.

Belden Inc. was founded in 1902 and is headquartered in Missouri, United States. It specialises in p...

Bosch Rexroth Corporation

Bosch Rexroth Corporation was founded in 1795 and is headquartered in Lohr am Main, Germany. It is e...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other players included in the IO-link market report are Datalogic S.p.A., Emerson Electric Co., OMRON Corporation, Rockwell Automation, Inc., SICK AG, and Siemens AG, among others.