According to a new market report published by Transparency Market Research titled “Industrial Wireless Sensor Networks Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” the global industrial wireless sensor networks market is expected to reach US$ 5,383.8 Mn by 2026. The market is projected to expand at a CAGR of 12.3% during the forecast period from 2018 to 2026. According to the report, the global industrial wireless sensor networks market will continue to be influenced by a range of factors such as their better reliability and availability compared to conventional industrial wired sensor networks, reduced maintenance cost, and their increasing use in manufacturing industry. Asia Pacific will continue to be at the forefront of global demand, holding bulk of the share of the market throughout the forecast years.
Others segment expected to be more lucrative
The global industrial wireless sensor networks market is segmented by type into Flow, Gas, Temperature, Pressure, and Others (Level, Humidity etc.). Others segment is expected to surpass US$ 2,000 Mn by 2026. The investments in new and advanced industrial wireless sensor networks around the world is expected to be a major driver of growth.
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ZigBee expected to dominate the market around the globe
On the basis of technology, the industrial wireless sensor networks market is segmented into Bluetooth, ZigBee, Wi-Fi, Near Field Communication (NFC), Cellular, and Others (wirelessHART, ISA 100.11a etc.). The ZigBee segment is expected to hold the major share of the market throughout the forecast period.
Manufacturing segment expected to hold a large chunk of the global industrial wireless sensor networks market
Based on industry, the market is segmented into automotive, food & beverages, manufacturing, mining, oil & gas, and others. In 2017, the manufacturing segment held the major share of the market due to their widespread use in manufacturing facilities. The segment is anticipated to dominate throughout the forecast years.
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Asia Pacific to continue to hold significant share in the overall market
Asia Pacific is expected to hold higher share in the industrial wireless sensor networks market during the forecast period. The growth is mainly due to the increased adoption of industrial wireless sensor networks with the presence of well-established players across the region, especially across China and Japan. Asia Pacific is also expected to emerge as the region showcasing the highest CAGR.
Major players in the industrial wireless sensor networks market include Lantronix, Inc., NXP Semiconductors N.V., Analog Devices, Inc., Texas Instruments Incorporated, STMicroelectronics N.V., Yokogawa Electric Corporation, Endress+Hauser AG, Schneider Electric SE, ABB Ltd, and Siemens AG.
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