NEWARK, Del, Sept. 15, 2023 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI) report, the industrial wireless transmitters market is forecasted to be valued at US$ 9.2 billion by 2033. The market is expected to advance at a CAGR of 6.4% from 2023 to 2033. The current market valuation is US$ 4.9 billion in 2023.
The industrial wireless transmitters market is experiencing a remarkable surge driven by the rapid adoption of IoT (Internet of Things) technology across various industries.
These wireless transmitters, crucial components in industrial automation and monitoring, are witnessing increasing demand due to their ability to provide real-time data insights, enhance operational efficiency, and enable remote monitoring.
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As industries embrace the era of IoT integration, industrial wireless transmitters play a pivotal role in facilitating seamless connectivity and data exchange, thereby revolutionizing industrial processes and contributing to a dynamic market landscape.
The applications of industrial wireless transmitters span a wide spectrum of industries, showcasing their versatility. In the oil and gas sector, for instance, these transmitters are deployed in remote drilling sites to monitor critical parameters, ensuring safety and efficient operations.
In manufacturing, they are instrumental in tracking production lines, managing inventory, and enhancing quality control. Even in healthcare, industrial wireless transmitters are used to monitor and regulate vital medical equipment, underscoring their significance in ensuring patient well-being.
While the industrial wireless transmitters market presents immense opportunities, it also faces several challenges. Security concerns regarding the transmission of sensitive industrial data remain a top priority. As the market continues to evolve, addressing these security issues becomes essential.
On the other hand, the market also offers exciting prospects. The ongoing expansion of industries such as renewable energy, automation, and smart manufacturing presents lucrative growth opportunities.
The development of advanced wireless communication technologies promises to further enhance the capabilities of industrial wireless transmitters, making them indispensable tools in the ever-evolving industrial landscape.
Key Takeaways from the Industrial Wireless Transmitters Market Report:
- The United States market is expected to hold a revenue share of US$ 1.6 billion by 2033.
- The market size in South Korea is expected to account for US$ 391.5 Million by 2033 on a global level.
- Based on type, the pressure transmitter’s sub-segment is likely to advance at 6.2% CAGR from 2023 to 2033.
- During the forecast period, the market in China is anticipated to move ahead at a 6.3% growth rate.
- The market for industrial wireless transmitters in the United Kingdom is likely to secure a 6% CAGR from 2023 to 2033.
“Industrial wireless transmitters play a crucial role in enabling IoT applications by providing real-time data from various industrial processes. This trend was expected to continue with increased adoption of IIoT solutions for improved operational efficiency and predictive maintenance” opines a Lead Analyst, Future Market Insights, Inc.
How is the Competition Landscape Structured in the Industrial Wireless Transmitters Market?
The competition landscape in the industrial wireless transmitters market is characterized by a diverse array of players, ranging from established industry giants to innovative startups. Key market leaders continually drive innovation, expanding their global presence and product portfolios. However, the industry's openness to innovation and evolving technologies mean that smaller, agile companies also have a significant role to play.
This competitive environment fosters a continuous cycle of product advancements, creating a dynamic market where innovative and customer-centric solutions are preferred.
In addition to established players and startups, the competitive landscape in the industrial wireless transmitters market also includes partnerships and collaborations between technology providers, sensor manufacturers, and communication network companies.
These strategic alliances aim to harness the strengths of each partner, creating integrated solutions that cater to diverse industrial needs while fostering innovation and expanding market reach.
Key Players Profiled in Industrial Wireless Transmitters Market Report:
- Ascom Holding AG
- Eaton Corporation PLC
- Emerson Electric Company
- Honeywell International
- Inovonics Wireless Corporation
- Keri Systems
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Industrial Wireless Transmitters Market Segmentation Analysis:
By Type:
- Pressure Transmitters
- General Purpose
- Level Transmitters
- Temperature Transmitters
- Flow Transmitters
- Tank Gauging Transmitters
- Other Types
By Vertical:
- Industrial Automation
- Aerospace & Defense
- Food & Agriculture
- Chemical / Petrochemicals
- Energy & Power
- Water & Wastewater Treatment
- Other Verticals
By Region:
- North America
- Europe
- APAC
- MEA
- Latin America
About FMI – Industrial Automation:
The Industrial Automation division of Future Market Insights (FMI) Research offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry.
We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
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