
Published On: Jan 2023
Published On: Jan 2023
At 8.4% CAGR, the North America Communications Interface Market is projected to be worth US$ 2,610.93 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America communications interface market was valued at US$ 1,612.17 million in 2022 and is expected to reach US$ 2,610.93 million by 2028, registering a CAGR of 8.4% from 2022 to 2028. Rising adoption of automation technologies across industries and increasing development of robots are the critical factors attributed to the North America communications interface market expansion.
The rising awareness of the benefits of automation across the region has influenced the adoption of the same across industries such as manufacturing, automotive, mining, and food & beverages. The growing demand for automobiles has increased the requirement for automation systems as it helps speed up production while decreasing the manufacturing cost and risk to human workers. This is influencing the adoption of collaborative robots, robotic arms, and the Internet of Things (IoT), across the automotive industry. Additionally, the mining industry is constantly focusing on automation to improve its mining processes and reduce injuries at work. The adoption of several connected devices across mines enables the interpretation of data on a real-time basis, reduces operational costs, and enables centralized control of mining fleets. Hence, the rising adoption of automation across industries is fueling the demand for connected devices and other automation solutions, thereby contributing to the growth of the North America communications interface market.
On the contrary, high operating and maintenance costs and lack of skilled laborers hurdles the growth of North America communications interface market.
Key players dominating the North America communications interface market are ABB Ltd, Eaton Corp Plc, Gauging Systems Inc, Honeywell International Inc, NXP Semiconductors NV, OMRON Corp, Parker Hannifin Corp, PR Electronics AS, Rockwell Automation Inc, and Socomec Holding SA, among others.
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