The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Envelope Tracking Chip (ETC) market is poised for significant growth in the forecast period, with a compound annual growth rate (CAGR) of 27.7%, reaching $10.43 billion in 2023. The global IO-link market size is expected to reach $26.23 billion in 2027 at a CAGR of 25.9%.

IoT’s Role in Driving Market Growth:
The Envelope Tracking Chip market is intricately linked to the rise of the Internet of Things (IoT). IoT’s global connections increased by 8%, reaching 12.2 billion active endpoints in May 2022, and are anticipated to grow by 18% to 14.4 billion in 2022. With an expected 27 billion linked IoT devices by 2025, the Envelope Tracking Chip market is propelled by the real-time communication, remote configuration, and diagnostics capabilities provided by IoT.

Key Players in the Envelope Tracking Chip Market:
Leading the charge in the Envelope Tracking Chip market are key players such as Siemens, Hans Truck GmbH And Co. KG, Balluff GmbH, ifm electronic GmbH, and others. These industry giants are pivotal in shaping the market’s direction through innovation and strategic initiatives.

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Regional Insights:
Europe emerges as the largest region in the Envelope Tracking Chip market in 2022. The global market report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, offering a comprehensive view of the market’s geographical landscape.

Market Segmentation:
The Envelope Tracking Chip market is segmented based on components, applications, and industry verticals:

• By Component: IO-link Master, IO-link Devices, Sensor Nodes, Modules, Actuators, RFID Read Heads, Other Components.
• By Application: Machine Tool, Handling and Assembly Automation, Packaging, Intralogistics.
• By Industry Vertical: Oil and Gas, Energy and Power, Automotive, Aerospace and Defense, Pharmaceuticals, Food and Beverages, Chemicals, Other Industry Verticals.

View More On The IO-Link Market Report 2023 –
https://www.thebusinessresearchcompany.com/report/IO-link-global-market-report

The IO-Link Global Market Report 2023  provides a IO-link market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032).  The IO-link market forecast analyzes IO-link market size, IO-link market share, IO-link market growth, IO-link market forecast, IO-link market demand, IO-link market drivers, IO-link market strategies, IO-link market key players, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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