According to a report by Grand View Research, Inc., global industrial wireless sensor network (IWSN) market is anticipated to value USD 8.67 billion by 2025. Growing requirement for advanced network infrastructure and increasing use of internet of things (IoT) devices is anticipated to propel demand for industrial wireless sensor networks (IWSNs). These networks are likely to offer connectivity between sensor nodes and gateways without any fiber cable. In addition, these networks can also offer advanced communication through radio nodes arranged in appropriate topologies.
Growing adoption of wireless communication coupled attributed to rising need for strong connectivity in remote locations can fuel market growth. Continual advancements in artificial intelligence (AI) and IoT are likely to augment demand for wireless networks and strong connectivity. Supportive initiatives from governments globally to promote use of wireless networks can foster growth of market during the forecast period (2014 to 2025).
Full Research Report On Industrial Wireless Sensor Network (IWSN) Market Analysis: https://www.grandviewresearch.com/industry-analysis/industrial-wireless-sensor-networks-iwsn-market
The industrial wireless sensor network market can be segregated on the basis of component, type, technology, application, end-use, and region. Based on component, the market can be categorized into hardware, software, and service. Hardware segment is predicted to witness substantial growth during the forecast period attributed to rising use of routers, sensor nodes, and gateways to create network infrastructure.
Based on type, the market can be classified into level sensors, flow sensors, pressure sensors, temperature sensors, humidity sensors, motion & position sensors, gas sensors, light sensors, chemical sensors, and others.
Based on technology, the market can be segmented into Wi-Fi, ZigBee, Bluetooth, near field communication, cellular network, wirelessHART, ISA 100.11a. In 2016, wirelessHART segment dominated the market attributed to benefits such as availability of user-friendly environment by offering compatibility with existing tools, devices, and systems. This technology can be used in open wireless communication that can be used for application monitoring and process measurement. In addition, it can also be used in utilities, oil & gas, and manufacturing sectors attributed to its benefits such as reduced complexity and cost-effectiveness.
Based on application, the market can be divided into asset tracking, safety & surveillance, process monitoring, and machine monitoring. Asset tracking segment is anticipated to grow fast during the forecast period attributed to high operational efficiency and reduced costs. In addition, availability of reliable solutions offering improved battery life and high range of wireless connectivity can lead to adoption of asset tracking solutions in logistics and manufacturing sector.
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Based on end-use, the market can be split into manufacturing, mining, food & beverages, automotive, oil & gas, utilities, and others. Oil & gas segment is expected to contribute well for growth of market attributed to increasing use of IWSNs to increase production, reduce maintenance costs & malfunctioning, and decrease accidents. In addition, IWSNs are likely to offer processing, sensing, and communicating capabilities that can make them unique for monitoring various midstream, upstream, and downstream operations in oil & gas sector.
Similarly, manufacturing segment can also bode well for market growth attributed to growing adoption of sensor networks and availability of predictive quality control, maintenance, and automated process management solutions. In addition, soaring need for energy-efficient manufacturing and green manufacturing can fuel players in electronics sector to use better plant monitoring and control solutions. This, in turn, can fuel growth of market during the forecast period.
Regional segmentation includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2016, North America dominated the market and accounted for largest market share. Rising adoption of IWSN for its advantages such as easy installation, compactness, easy access to data, and elimination of wired networks in hazardous environments and movable parts can fuel growth. In addition, growing investments in wireless connectivity can also fuel growth of market in this region.
In Asia Pacific, the market is expected to witness fast growth during the forecast period. Rising implementation of smart manufacturing processes in countries such as India, China, and Taiwan can influence growth.
Moreover, in Latin America and MEA regions, the market is likely to grow at significant rate during the forecast period attributed to increasing applications of wireless sensor network (WSN) in mining and oil & gas sector can further augment growth of market in these regions.
Some of the leading companies offering industrial wireless sensor networks are Siemens AG; NXP Semiconductor; Schneider Electric; STMicroelectronics N.V.; and Texas Instruments.
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