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Industrial Wireless Sensor Network Market Is Poised To Reach $8.67 Billion By 2025




 

The global industrial wireless sensor network (IWSN) market size is anticipated to reach USD 8.67 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 14.5% CAGR during the forecast period. Benefits offered by IWSN over wired networks, such as mobility, self-discovery capability, compact size, cost-effectiveness, and reduced complexity, are anticipated to play a significant role in increasing global demand.

IWSN is an advanced method of communication between two or more remotely-located devices without interruption. The systems comprise nodes that act as access points to form a better communication system. In IWSN, sensor nodes are connected through various wireless technologies such as ZigBee, Wi-Fi, Bluetooth, and WirelessHART. Increasing adoption of wireless communication, need for strong connectivity across remote locations, and demand for network infrastructure are expected to fuel market growth.

Recent advancements in the fields of Internet of Things (IoT) and Artificial Intelligence (AI) have further increased demand for wireless networks and strong connectivity. Accelerated adoption of these technologies by the oil and gas, manufacturing, utilities, and automotive verticals is expected to boost the growth of the industrial wireless sensor network market. In addition, key players in the market are investing heavily in R&D to explore the scope of the technology for innovations, integration, and new product developments. For instance, ABB Ltd., which has 7 research centers and more than 8,000 technologists, invested USD 1.5 billion in R&D in 2016.

The hardware segment is anticipated to witness substantial growth as they detect activities and send information from one device to another through various communication technologies. Increasing miniaturization of electronic components and advancements in communication technology make it possible to develop a seamless network. The software handles device-specific tasks, such as initialization of hardware, memory management, and process management, as well as scheduling. The software segment generated the highest revenue in 2016 and the trend is expected to continue over the forecast period.

Global players in the IWSN market are collaborating with new entrants to provide improved products and systems with enhanced performance. In January 2017, Honeywell Process Solutions collaborated with AEREON to develop solutions that help the industrial sector improve operational efficiency, safety, and reliability.

Further key findings from the report suggest:

Demand for IWSN has increased over the years owing to benefits such as elimination of complexity and cost-effectiveness as compared to wired networks
The hardware segment generated the highest revenue in 2016, owing to increased adoption for process monitoring in industries such as automotive, oil and gas, and mining
Numerous vendors are implementing compatible software for real-time monitoring of data from sensor nodes
Global players in the IWSN market are collaborating with new entrants to provide improved products and systems with enhanced performance
The Asia Pacific region is predicted to witness remarkable growth over the forecast period owing to increasing applications of WSN in automotive, manufacturing, and oil and gas industries
Key players in the market include ABB Ltd., Siemens AG, Schneider Electric, Yokogawa Electric Corporation, and Texas Instruments.
Grand View Research has segmented the global IWSN market based on component, type, technology, application, end use, and region:

Industrial Wireless Sensor Network Component Outlook (Revenue, USD Million, 2014 – 2025)

Hardware
Software
Service
Industrial Wireless Sensor Network Type Outlook (Revenue, USD Million, 2014 – 2025)

Temperature Sensors
Pressure Sensors
Level Sensors
Flow Sensors
Humidity Sensors
Motion & Position Sensors
Gas Sensors
Light Sensors
Chemical Sensors
Others
Industrial Wireless Sensor Network Technology Outlook (Revenue, USD Million, 2014 – 2025)

Bluetooth
ZigBee
Wi-Fi
Near Field Communication (NFC)
Cellular Network
WirelessHART
ISA 100.11a
Industrial Wireless Sensor Network Application Outlook (Revenue, USD Million, 2014 – 2025)

Machine Monitoring
Process Monitoring
Asset Tracking
Safety & Surveillance
Industrial Wireless Sensor Network End use Outlook (Revenue, USD Million, 2014 – 2025)

Automotive
Food & Beverages
Manufacturing
Mining
Oil & Gas
Utilities
Others
Industrial Wireless Sensor Network Regional Outlook (Revenue, USD Million, 2014 – 2025)

North America
US.
Canada
Europe
UK.
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Mexico
Middle East & Africa





Posted by on 13. August 2019. Filed under Networking, Picture Gallery. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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