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OPC-UA Network Market Size to Grow at a CAGR of 6.3% During the Forecast 2021-2026

(IT-NEWSWIRE.COM, January 22, 2022 ) OPC-UA Network Market size is analyzed to grow at a CAGR of 6.3% during the forecast 2021-2026 to reach $18.3 billion by 2026. Open Platform Communications United Architecture, also termed as OPC-UA is the data exchange standard, designed for secure and reliable Industrial communication. There are multiple OPC standards that are designed in a series of specifications according to the requirements of the industry vendors and other end-users. Due to the rising implementation of industrial communication for enhanced industrial automation and building automation processes and communication protocol efficiency, various business verticals are leveraging to aim operational effectiveness, thereby driving the OPC-UA Network Industry growth. In addition, the rapid advancement in the areas of IIoT is accelerating the trend to promote factory modernization effort, such as diversity in connected equipment. Furthermore, the emergence of 5G mobile communications standard accelerated the M2M communication possibilities, building automation and other wireless network offerings ranging from modular programming and virtual private networks, which is estimated to drive the OPC-UA Network Market. Therefore, the promising demand of faster, scalable, secure and robust interoperable communication protocols for varied Industrial automation processes, and rapid digitalization among several business verticals are some of the prominent factors, which are estimated to drive the growth of the OPC-UA Network Market.



OPC-UA Network Market Segment Analysis – By Offerings



By Offerings, the OPC-UA Network Market is segmented into Hardware, Software and Services. The Hardware segment is estimated to register the highest share of 48% in 2020 owing to the wide-scale adoption of network infrastructure components, such as Modules, Gateways, Servers among the industry verticals such as oil & gas, utility, chemical and food & beverage to support better manufacturing processes. The growing demand for interoperable, secure, and affordable solutions for industrial applications such as production process monitoring and machine management require versatile hardware infrastructure. In March 2021, Advantech, a global leader in Industrial IoT technology, launched a next generation OPC UA I/O sensing module with Modbus protocol. The ADAM-6300 of Advantech is an IT/OT convergence series that supports integration of information technology (IT) systems with operational technology (OT), and offers smart IoT applications across factory and utility sectors. Therefore, the advancement in Industrial hardware components, modular programming and introduction of connectivity-enabled software, such as component object model owing to the rapid digitalization of industrial processes to denote optimum speed production and uninterrupted 24/7 service boost the growth of the OPC-UA Network Market.



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OPC-UA Network Market Segment Analysis – By Industry Verticals



By Industry Verticals, the OPC-UA Network Market is segmented into Power, Automotive, Mining, Oil and Gas, Food and beverage, Pharmaceutical, Chemical, Aerospace and Defense, Transportation & Logistics, General Manufacturing, Electronics and Semiconductors, Utilities and others. The General Manufacturing Industry is analyzed to register the highest share of 42% in 2020, owing to the growing demand for well-established manufacturing technologies such as connected factories, digital twins and robotics that needs high speed data communication for real-time working conditions. In March 2021, Belden launched a new version of its Hirschmann Operating System (HiOS) for Industry 4.0 applications. Embedded with Open Platform Communications Unified Architecture (OPC UA) server, the Hirschmann Operating System (HiOS) offers seamless, brand-agnostic industrial automation. The rise in adoption of Industrial communication across various manufacturers to get immediate, reliable communication between devices, specifically for motion control applications and machine-to-machine communication accelerate the growth of OPC-UA Network Market.



OPC-UA Network Market Segment Analysis – By Geography



Europe dominated the OPC-UA Network Market in 2020 with a share of 46%, followed by Asia Pacific, respectively. The early adoptions of advanced technologies, such as IoT-enabled devices, machine-to-machine solutions, along with the presence of the prominent industrial players of wireless connectivity lead huge opportunities for the OPC-UA Network Market in this region. In February 2021, Siemens, a technology company focused on digitalization, IoT and energy efficient production introduced the Sitrans CloudConnect 240: a new IoT gateway for the process industry. The Sitrans CloudConnect 240 offers support to the process industry in terms of digitalization, through OPC UA server or the Siemens MindSphere IoT-as-a-Service solution. Moreover, the persistent demand for advanced manufacturing technologies, state-of-the-art automation software and potential investments by the governments, pertinent to the development of businesses across Singapore, China, Japan and India have expanded the opportunities of IoT-connected devices. Therefore, the growing demand for extended IoT connectivity, enhanced factory automation and popularity of Building automation across these regions are driving the growth of the OPC-UA Network Market.



OPC-UA Network Market Drivers



Growing popularity of Smart factory



The growing popularity of Industrial Control and Factory Automation due to 4.0 and other digital technologies such as AI across the factory floor denote Smart Factory, which further create a lot of opportunities for OPC-UA Network Market. In May 2021, Bayshore Networks announced the expansion of its NetWall family of products with the release of NetWall BSG - Bilateral Security Gateway. The NetWall family of products provides OPC UA support, as an Inductive Automation's ignition platform for active industrial cybersecurity protection solutions across plant infrastructure. Moreover, in today’s competitive business environment, various enterprises are integrating advanced automated systems for operational efficiency, and thus, it propels the trend of smart factory, globally. In October 2020, HighByte®, an industrial software company, announced the release of HighByte Intelligence Hub version 1.2 for open standards and open platforms, which promote Industry 4.0 solutions. In order to strengthen the communications protocol for industrial data transmission, a growing number of end-user industries are deploying OPC UA, a new approach to data integration and security. Thus, the rising demand to standardize and streamline data infrastructures from factory to cloud across various industries promotes the OPC-UA Network Market.



Emergence of Industrial Robots



The eminent rise in the adoption of industrial robots across several manufacturing sectors, and considerable government initiatives that foster the development of advanced technologies, such as AI-enabled robots and collaborative robots for denoting industrial automation drive the growth of OPC-UA Network Market. In June 2020, Norwegian software company Rocketfarm, the creator of software systems for the market leading cobots from Universal Robots, announced the development of UR cobot that support OPC UA Industry 4.0 protocol. The OPC UA protocol is considered as a major component in Industry 4.0, and one of the fastest growing standards for machine to machine communication, and thus, UR collaborative robots are designed for enhanced security features. Therefore, the growing industrial IoT developments to address production efficiencies are some of the factors that influence the OPC-UA Network Market growth.



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OPC-UA Network Market Challenges



Major Skill Shortage



The rapid advancement in technology and relevant job experience to gain acceptance among various industries are creating huge demand for skilled employees. The overwhelming demand to develop software solutions for every possible application and various types of issues regarding development platforms requires expertise. However, there is a huge skills shortage in the industrial networking community, which develops a very challenging scenario regarding skills shortage in IT sectors. Presently, numerous companies face difficulties to employ enough open source skilled professionals to manage better operating systems, which eventually hamper the growth of the OPC-UA Network Market.



OPC-UA Network Market Landscape



Product launches, acquisitions, and R&D activities are the key strategies adopted by players in the OPC-UA Network Market. The OPC-UA Network market top 10 companies include ABB Ltd., Advanced Industrial Automation Group, Emerson Electric Company, General Electric, Infineon Technologies AG, National Instruments, ICONICS, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, and many more.



Acquisitions/Technology Launches/Partnerships



In November 2019, ICONICS, a global automation software provider signed an agreement with Takebishi Corporation to integrate the Takebishi DeviceXPlorer OPC Server with its own OPC-based automation software solutions, and provide advanced industry 4.0 web-enabled OPC UA solutions for various manufacturing, energy, industrial or building automation operations.



In March 2019, Mitsubishi acquired Iconics to expand its Edgecross edge computing platform and redefine the industrial automation landscape. To strengthen Mitsubishi’s software portfolio, the company acquired HMI, SCADA, IoT, analytics, mobile and cloud applications of Iconics for delivering complete technology capabilities across manufacturing and building automation markets. In addition, this strategic acquisition supports the latest standards, such as the pub/sub model, OPC UA TSN, and other OPC UA specification solutions.



Key Takeaways



The growing popularity of Industrial Control and Factory Automation due to 4.0 and other digital technologies such as AI across the factory floor denote Smart Factory, which further create a lot of opportunities for OPC-UA Network Market.



Europe dominated the OPC-UA Network Market in 2020 with a share of 46%, owing to the early adoptions of advanced technologies, such as IoT-enabled devices, machine-to-machine solutions, along with the presence of the prominent industrial players of wireless connectivity.



The General Manufacturing Industry is analyzed to register the highest share of 42% in 2020, owing to the growing demand for well-established manufacturing technologies such as connected factories, digital twins and robotics that needs high speed data communication for real-time working conditions.



Related Reports



A.Network-as-a-service Market



https://www.industryarc.com/Research/Network-as-a-service-Market-Research-500542



B.Network Access Control Market



https://www.industryarc.com/Research/Network-Access-Control-Market-Research-500614



For more Information and Communications Technology Market reports, please click here



About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

IndustryARC

Venkat Reddy

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venkat@industryarc.com

Source: EmailWire.Com



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