Industrial Wireless Solution Market Synopsis
Market Research Future (MRFR), in its research report, highlights that the global demand 2020 is projected to rise rapidly over the forecast period, ensuring substantial market valuation from USD 2.55 billion in 2017 to USD 9.35 billion by 2023, and a healthy 25% CAGR over the review period.
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 Market Key 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.
Apart from the top key players, the other players contribute nearly 30–35 % in the industrial wireless solution market. These include Ruckus Networks (US), DataGear Inc (US), OleumTech (US), Molex, LLC (US), Neratec Solutions AG (Switzerland), General Electric (US), Westermo Network Technologies AB (Sweden), Value Line Inc (US), Wipro Ltd (India), Cambium Networks, Ltd (US), Accenture PLC (US), Maestro Wireless Solutions Limited (China), Cognizant Technology Solutions Corp (US), Fluidmesh Networks LLC (US), HMS Industrial Networks (Sweden), Advantech Co., Ltd (Taiwan), and others.
The global wireless solution market for industrial applications is segmented into form, organizational size, vertical and area.
The market is segmented by type into wireless field tools, mobile computing devices and a wireless network.
The market is bifurcated into large enterprises and small and medium sized enterprises by organizational size.
The market is segmented vertically into process industry, and discrete industry. Furthermore, the process industry segments into food & beverage, chemicals and materials, energy and utilities, and others. Additionally, discrete industry is segmented into automobile, semiconductor & electronics , medical equipment, and transport.
Industrial Wireless Solution Market Regional 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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