An IO-Link system consists of an IO-Link master and one or more IO-Link devices, i.e. Sensors or Actuators. The IO-Link master provides the interface to the higher-level controller (PLC) and controls the communication with the connected IO-Link devices.
According to the new market research report “Global IO-Link Market Report 2023-2029”, published by QYResearch, the global IO-Link market size is projected to reach USD 6.54 billion by 2029, at a CAGR of 12.4% during the forecast period.
Figure. Global IO-Link Market Size (US$ Million), 2018-2029
Figure. Global IO-Link Top 5 Players Ranking and Market Share（Based on data of 2021, Continually updated）
The global key manufacturers of IO-Link include Siemens, Murrelektronik, Beckhoff, WAGO, Bosch Rexforth, SICK, Belden, Weidmüller, Balluff, Pepperl+Fuchs, etc. In 2021, the global top five players had a share approximately 14.0% in terms of revenue.
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