(MENAFN- PR Newswire) NEW YORK, July 24, 2023 /PRNewswire/ -- The
global industrial wireless sensor networks (iwsn) market size is estimated to increase by
USD 4,126.03 million from 2022
to 2027. The market's growth momentum will progress at a CAGR of 14.72% during the forecast period.
Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report
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![Technavio has announced its latest market research report titled Global Industrial Wireless Sensor Networks (IWSN) Market 2023-2027]( "Technavio has announced its latest market research report titled Global Industrial Wireless Sensor Networks (IWSN) Market 2023-2027")
Technavio has announced its latest market research report titled Global Industrial Wireless Sensor Networks (IWSN) Market 2023-2027
Industrial wireless sensor networks (IWSN) market – Vendor Analysis
Vendor Landscape - The global industrial wireless sensor networks (IWSN) market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer industrial wireless sensor networks (IWSN) in the market are ABB Ltd., Advantech Co. Ltd., Analog Devices Inc., Banner Engineering Corp., Cisco Systems Inc., Dell Technologies Inc., Emerson Electric Co., Endress Hauser Group Services AG, Honeywell International Inc., Huawei Technologies Co. Ltd., Intel Corp., Lantronix Inc., Schneider Electric SE, Siemens AG, TE Connectivity Ltd., Texas Instruments Inc., Yokogawa Electric Corp., STMicroelectronics NV, and NXP Semiconductors NV and others.
What's New? -
Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession Global competitiveness and key competitor positions Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial -
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Vendor Offerings -
ABB Ltd. -
The company offers industrial wireless sensor networks which are used in electric vehicle applications. Analog Devices Inc. -
The company offers wireless sensor networks which are used in environmental monitoring, home automation, and chemical biological attack detection application. Banner Engineering Corp. -
The company offers industrial wireless sensor networks which are used to collect vibration data over time for trending and analysis. For details on the vendor and their offerings –
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Industrial wireless sensor networks (IWSN) market - Segmentation Assessment
Segment Overview
This
industrial wireless sensor networks
market report extensively covers
market segmentation by technology (ZigBee, WirelessHART, ISA-100.11A, Wi-Fi, and Bluetooth), end-user (automotive, food and beverage, metals and mining, oil and gas, and waste management), and geography (North America, APAC, Europe, South America, and Middle East and Africa).
The
ZigBee
segment
will be significant for market growth during the forecast period.
Zigbee is a very commonly used wireless communication technology in the market. It provides low-power, low-cost, and dependable communication in industrial applications. Furthermore, applications such as asset tracking, environmental monitoring, and energy management all make heavy use of Zigbee. Additionally, it
is suitable for
IWSN applications because of its low power consumption and ability to support huge networks. Hence,
Zigbee technology is expected to grow in these application areas and emerge as a preferred technology, contributing to the growth of the featured market during the forecast period.
Geography Overview
By geography, the global industrial wireless sensor networks (IWSN) market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global industrial wireless sensor networks (IWSN) market.
North America will
contribute
29%
to the growth of the global market during
the forecast period. The US
generated a
major share of the revenue because
it is the key manufacturing country in the region with a strong presence of industries. The industries include
power generation, oil and gas, automotive, food and beverage, and pharmaceutical. Furthermore,
the market in the region is
expected to gain traction due to the reshoring of manufacturing from low-cost countries back to the US and Mexico over the forecast period.
For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 -
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Industrial wireless sensor networks (IWSN) market
– Market Dynamics
Leading Drivers -
Increasing adoption of Industry 4.0 and smart manufacturing processes
drives the growth of the IWSN market.
Industry 4.0 is a new
industrial revolution that involves integrating cutting-edge technologies. The technologies in the Industry 4.0 include
IoT, cloud computing, and data analytics to build smart factories.
Furthermore,
IWSN provides advantages, including improved efficiency, reduced downtime, and cost-effectiveness.
These are increasingly needed for the digitalization and automation of manufacturing and other industrial processes. Hence, such factors boost the growth of the IWSN market during the forecast period.
Key Trends -
The adoption of cloud-based IWSN solutions for data storage and analysis
is an emerging trend in the IWSN market. There are massive amounts of data generated by wireless sensor networks, which
can be efficient and scalable, processed, and stored using cloud-based solutions.
Furthermore, the data can be easily accessed from any location and on any device, making it easier for businesses to operate their IWSN infrastructure, by using cloud-based solutions. Hence,
this trend is anticipated to continue and drive the growth of the market focus during the forecast period.
Major challenges -
Increasing concerns about data security and privacy
will challenge
the growth of the IWSN market. Generally,
IWSN solutions collect and transmit sensitive data from industrial processes. This makes
them highly vulnerable to issues such as unauthorized access, data breaches, and cyber-attacks. Furthermore,
the deployment and upkeep of IWSNs are made more challenging by the need for compliance with data protection laws. The laws include
the General Data Protection Regulation (GDPR) in the EU and the California Consumer Privacy Act (CCPA) in the US. Hence, such a challenge is expected to hinder the growth of the global IWSN market during the forecast period.
drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. find more insights in a sample report!
What are the key data covered in this Industrial wireless sensor networks (IWSN) market report?
CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the industrial wireless sensor networks (IWSN) market between 2023 and 2027 Precise estimation of the size of the industrial wireless sensor networks (IWSN) market and its contribution to the market with a focus on the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the industrial wireless sensor networks (IWSN) market across North America, APAC, Europe, South America, and Middle East and Africa A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of industrial wireless sensor networks (IWSN) market vendors
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The
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| Industrial wireless sensor networks (IWSN) market scope |
| Report Coverage | Details |
| Historic period | 2017-2021 |
| Forecast period | 2023-2027 |
| Growth momentum & CAGR | Accelerate at a CAGR of 14.72% |
| Market growth 2023-2027 | USD 4,126.03 million |
| Market structure | Fragmented |
| YoY growth 2022-2023
(%) | 14.5 |
| Regional analysis | North America, APAC, Europe, South America, and Middle East and Africa |
| Performing market contribution | North America at 29% |
| Key countries | US, China, Japan, Germany, and UK |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | ABB Ltd., Advantech Co. Ltd., Analog Devices Inc., Banner Engineering Corp., Cisco Systems Inc., Dell Technologies Inc., Emerson Electric Co., Endress Hauser Group Services AG, Honeywell International Inc., Huawei Technologies Co. Ltd., Intel Corp., Lantronix Inc., Schneider Electric SE, Siemens AG, TE Connectivity Ltd., Texas Instruments Inc., Yokogawa Electric Corp., STMicroelectronics NV, and NXP Semiconductors NV |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |