Industrial Wireless Solution Market 2020 Comprehensive Analysis and Future Estimations 2023
Industrial Wireless Solution MarketSynopsis
The global Industrial Wireless Solution Market was valued at USD 2.55 billion in 2017 and is expected to reach USD 9.35 billion by the end of the forecast period with a CAGR of 25.0% .
Advent of wireless solutions in industries play a major role towards the rapid development in radio frequencies and other connected devices solution such as industrial internet of things (IIoT). The industrial wireless solution are prominently based on the radio waves which generally occurs at the plysical layer of a network. In industries, the need for connecting various devices such as tablets, computers, servers, and even Wi-Fi routers require radio waves. It has been witnessed that the adoption of wireless devices in industries is increasing as these provide higher operational efficiency, and fast decision-making capabilities. Moreover, wireless devices are easy to deploy and its infrastructural costs are less.
The factors that contribute towards the growth of wireless infrastructure market in the increased shift from enterprises to cloud based services and increased IIoT services. Moreover, the increased adoption of SDWAN solutions in industries also contribute towards the growth of the market. However, there are various factors that refrain the market growth. These factors include concerns regarding data security, and connectivity issues. In addition, high power consumption by wireless devices, and sensor nodes and lack of globally excepted wireless standard pose a challenge to the market.
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Industrial Wireless Solution MarketKey Players
The key players in the industrial wireless solution market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are—Cisco Systems Inc (US), Eaton Corporation PLC (Ireland), ABB Limited (Switzerland), Belden Inc (US), Emerson Electric Company (US), Honeywell International Inc (US), Siemens AG (Germany), Yokogawa Electric (Japan), AT&T (US), and Phoenix Contact GmbH & Co (Germany)
Apart from the top key players, the other players contribute nearly 30–35 % in the industrial wireless solution market. These include DataGear Inc (US), Ruckus Networks (US), OleumTech (US), Molex, LLC (US), General Electric (US), Neratec Solutions AG (Switzerland), Westermo Network Technologies AB (Sweden), Wipro Ltd (India), Value Line Inc (US), Cambium Networks, Ltd (US), Accenture PLC (US), Cognizant Technology Solutions Corp (US), Maestro Wireless Solutions Limited (China), Fluidmesh Networks LLC (US), Advantech Co., Ltd (Taiwan), HMS Industrial Networks (Sweden), and others.
Industrial Wireless Solution MarketSegmentation
The global industrial wireless solution market is segmented into type, organization size, vertical and region.
By type, the market is segmented into wireless field instruments, mobile computing devices, and wireless network.
By organization size, the market is segmented into large enterprise and small and medium sized enterprises.
By vertical, the market is segmented into process industry, and discrete industry. Process industry is further segmented into energy and utilities, chemicals and materials, food & beverage, and others. Discrete industry is further segmented into automotive, semiconductor & electronics, medical devices, and transportation.
By region, the industrial wireless solution market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
Industrial Wireless Solution MarketRegional analysis
The global market for industrial wireless solution is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of Industrial Wireless Solution market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
North America is expected to dominate industrial wireless solutions market owing to the wide presence of key network service providers and wireless solution providers. Moreover, the US occupies major IT & telecom vendors such as Qualcomm, and Cisco Systems Inc that acre actively contributing towards industrial wireless solutions and are integrating new technologies such as IoT and Artificial Intelligence with wireless networks.
However, on the other hand, the countries such as China, Japan, India, and South Korea are rapidly advancing in industrial race, and wireless connectivity plays a major role in their development. As the semiconductor industry grows, the adoption of wireless solutions is expected to increase at double rate.
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Intended Audience
Government Agencies
Network Solution Providers
Independent Software Vendors
Consulting Firms
System Integrators
Research Institutes and Organizations
Technology Standards Organizations
Industrial Wireless Solution Vendors
Application Developers
Container Services Providers
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