$13+ Billion Global Industrial Wireless Sensor Network Market Report to 2027: Industry Trends, Share, Size, Growth, Opportunities and Forecasts – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Industrial Wireless Sensor Network Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global industrial wireless sensor network market size reached US$ 4.94 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 13.78 Billion by 2027, exhibiting a CAGR of 18.65% during 2021-2027.
- ABB Ltd
- Analog Devices Inc.
- Banner Engineering Corp.
- Emersion Electric Co.
- Endress+Hauser Management AG
- Honeywell International Inc.
- NXP Semiconductors N.V
- Schneider Electric
- Siemens AG
- ST Microelectronics
- Texas Instruments Inc.
- Yokogawa Electric Corporation
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
An industrial wireless sensor network (IWSN) comprises tiny autonomous sensors or nodes that are physically distributed in space. It relies on radio frequency (RF) waves to monitor and communicate several conditions, such as temperature, vibration, pressure, pollutants, and motion.
It is easy to install and relocate while saving labor costs, energy, and materials compared to wired solutions. It enhances productivity as IWSN can automatically supervise processes without any manual intervention. As a result, it finds applications in machine health analysis, manufacturing, condition-based maintenance, automated metering, remote monitoring, and inventory, vehicle and personnel management.
At present, the growing demand for IWSN to improve communication between industrial devices and ensure seamless communication using wireless systems represents one of the key factors driving the market. Besides this, there is a rise in the utilization of artificial intelligence (AI), machine learning (ML), and big data analytics to analyze the large database of temperature, motion, pressure, gas, flow, and chemicals. This, along with the increasing development of network infrastructure, is contributing to the growth of the market.
Moreover, the escalating demand for IWSN in the oil and gas industry to remotely monitor pipelines, natural gas leaks, and corrosion is offering lucrative growth opportunities to industry investors. In addition, there is an increase in the demand for WirelessHART and ISA-100.11a technologies in various industries across the globe.
This, coupled with the growing demand for the internet of things (IoT) connected devices around the world, such as smart mobiles, refrigerators, fire alarms, door locks, bicycles, and fitness trackers, is positively influencing the market. Apart from this, the increasing application of IWSN in robotics for sensing, recognition, and interpretation of numerous programs is propelling the growth of the market.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global industrial wireless sensor network market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, sensor type, application and end use.
Breakup by Component:
Breakup by Sensor Type:
- Pressure Sensor
- Temperature Sensor
- Level Sensor
- Flow Sensor
Breakup by Application:
- Machine Monitoring
- Process Monitoring
- Asset Tracking
- Safety and Surveillance
Breakup by End Use:
- Food and Beverages
- Oil and Gas
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key Questions Answered in This Report:
- How has the global industrial wireless sensor network market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global industrial wireless sensor network market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the sensor type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global industrial wireless sensor network market and who are the key players?
- What is the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/u3s3e3
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