Global Industrial Wireless Automation Market Size By Type, By Application, By Geographic Scope And Forecast

Industrial Wireless Automation Market Size And Forecast

Industrial Wireless Automation Market size was valued at USD 1.42 Billion in 2019 and is projected to reach USD 2.39 Billion by 2027, growing at a CAGR of 6.78% from 2020 to 2027.

With the development in technology, there is an increase in the adoption of Industry 4.0 and the advent of 5G wireless technology which leads to drives the demand for the Global Industrial Wireless Automation Market. The rising adoption of IoT is also propelling the growth of the market. The Global Industrial Wireless Automation Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market

Global Industrial Wireless Automation Market Definition

The transfer of data or power is between two or more nodes and is performed wirelessly because they are not connected by an electrical conductor generally known as Wireless communication. The radio wave is the most commonly used wireless technology. With the help of radio waves distances can be short, Communications for a few meters for Bluetooth or as far as millions of kilometers for deep-space these radio waves help in minimizing the distances. Its applicability in several types of fixed, mobile, and portable applications includes two-way radios, cellular telephones, personal digital assistants(PDAs), and wireless networking.

Industrial automation uses robots, computers, and information technologies which helps in handling different processes as well as machinery and can replace humans. Easy maintenance, control, and monitoring for these wireless devices are used both in-process and discrete industries. In industrial wireless automation, these devices are a big technological step as their adoption is increased because of the concerns over the robustness, reliability, and security of wireless technology. Oil and gas, automotive, and textile has also a need for automation in industrial wireless.

Global Industrial Wireless Automation Market Overview

The pervasive accessibility of low-cost, ubiquitous connectivity due to the Machine2Machine communications is the major factor that drives the market. For decision-making and performance measurement on the shop floors and control rooms, the adoption of wireless communication technology is increasing due to the M2M interaction and connectivity. Improvements in wireless technology have transformed from science, engineering, and manufacturing to transmit long-range data related to industrial processes under hostile and dangerous environments are transmitted due to transformation from science, engineering, and manufacturing because of the improvements in wireless technology.

Just-in-time manufacturing and predictive maintenance for the industries to utilize IIoT has opened several new opportunities for the market and various industries are adopting lloT due to its rising benefits. Predictive maintenance will create ample growth opportunities for vendors due to increased focus in the Industrial Wireless Automation Market. High-speed communication network solutions for fast data transfer in the industrial sector are adopted at a higher pace which will create new growth opportunities. Technological development is all around so as in the industrial sector also as they are adopting Industry 4.0 and the coming of 5G wireless technology is likely to propel the demand for Global Industrial Wireless Automation.

Transformation of the digital supply chain across the industries is done by the fourth industrial revolution, often called Industry 4.0. Nowadays market players are intended to partner with techno-savvy companies to develop new solutions build upon already-proven technologies because of the technology evolving at a rapid pace and is likely to create an ample amount of opportunities for the market.

In February 2020, Honeywell International, Inc. and Tech Mahindra Limited collaborate in order to build ‘Factories of the Future’ by leveraging digital technologies. The adoption of outdoor wireless networks which poses security threats and major concerns towards cyber threats leads to hindering the market growth. Also, The initial investment when switching from human production to an automatic production line is very high and affects the market growth by declining the demand for the Global Industrial Wireless Automation Market.

Global Industrial Wireless Automation MarketSegmentation Analysis

The Global Industrial Wireless Automation Market is segmented based on Type, Application, and Geography.

Industrial Wireless Automation Market, By Product

• Process Industry• Discrete Industry

Based on Product, the market is bifurcated into Process Industry and Discrete Industry. Process Industry dominates the market share of Industrial Wireless Automation because of the increased use of wireless sensors and various wireless communication protocols in industries.

Industrial Wireless Automation Market, By Application

• Oil & Gas• Petrochemical• Water and Wastewater• Energy• Others

Based on Application, the market is bifurcated into Petrochemical, Water and Wastewater, Oil and Gas, Energy and Others.

Industrial Wireless Automation Market, By Geography

• North America• Europe• Asia Pacific• Rest of the World

On the basis of regional analysis, the Global Industrial Wireless Automation Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Middle East and APAC was the largest market for the Global Industrial Wireless Automation Market.

Key Players

The “Global Industrial Wireless Automation Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Siemens, Honeywell International, Rockwell Automation, ABB, Cisco Systems, Emerson Electric, MOXA, Yokogawa America, OleumTech, General Electric Company. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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