Technavio market research analysts forecast the global remote input/output modules market to grow at a CAGR of close to 6% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global remote input/output (I/O) market for 2017-2021. The remote I/O modules market is divided into three controller types PLC-based remote I/O, DCS-based remote I/O, and Industrial PC-based remote I/O, with the PLC and DCS segments together accounting for more than 94% of the market in 2016.
According to Bharath Kanniappan, a lead analyst at Technavio for automation research, “The growth of the remote I/O modules can be attributed to the initiatives taken by governments worldwide to modernize traditional power grids into smart grids. The upgrade to smart grids arises out of a need for grid reliability, protection against cyber-attacks, and flexibility to suit the rapid changes in supply and demand.”
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