Industrial Communication Market to See Steady Growth Through 2028 Driven by Hardware, Wired Tech Demand
• Global industrial utility communication market to grow from $3.1B in 2023 to $4.2B in 2028, 6% CAGR
• Wired technologies seeing significant growth due to need for reliability and stability in real-time monitoring
• Hardware is the fastest growing market component, 6% CAGR, driven by Industrial Internet of Things and Industry 4.0
• EV charging and water/wastewater sectors outpacing other industries, 6.2% CAGR
• North America is the 2nd largest region due to rapid adoption of advanced technologies and focus on innovation