Westford, USA,, April 19, 2023 (GLOBE NEWSWIRE) -- The market for Industrial Wireless Sensor Networks (IWSN) is set to reach a value of USD 9.2 billion by 2030, with a projected CAGR of 13.2% during the forecast period (2023-2030). The market's growth is being driven by various factors, including the increasing demand for industrial automation, the rising adoption of IoT technology, advancements in wireless communication technologies, cost-effectiveness and scalability, and the growing demand for predictive maintenance.
SkyQuest reports that 67% of industrial companies plan to increase their investment in industrial automation in the next five years, and wireless sensor networks are among the top technologies being adopted to enable automation and improve efficiency in industrial processes. According to SkyQuest's latest research report, 66% of industrial companies are either implementing or planning to implement wireless sensor networks to enable real-time monitoring and control of their processes, with the primary benefits being improved efficiency, reduced downtime, and lower operational costs.
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- Pages - 242
- Tables - 78
- Figures - 75
In today's time, the industrial wireless sensor network market plays a critical role in enabling real-time monitoring and control of industrial processes, resulting in improved efficiency, reduced downtime, and lower operational costs. This market facilitates the adoption of Industry 4.0 technologies and supports the trend toward digital transformation in industries. Furthermore, the market is anticipated to exhibit substantial growth in the near future, underscoring its significance and relevance in modern industrial operations.
Prominent Players in Industrial Wireless Sensor Networks (IWSN) Market
- ABB Ltd.
- Analog Devices Inc.
- Cisco Systems Inc.
- Digi International Inc.
- Emerson Electric Co.
- Endress+Hauser AG
- General Electric Company
- Honeywell International Inc.
- IBM Corporation
- Infineon Technologies AG
- Mitsubishi Electric Corporation
- NXP Semiconductors N.V.
- Omron Corporation
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- STMicroelectronics N.V.
- TE Connectivity Ltd.
- Texas Instruments Inc.
- Yokogawa Electric Corporation
Industrial Automation Applications to Drive Higher Sales With Improved Efficiency, and Productivity
The need for automation in several industries, such as manufacturing, automotive, and oil and gas, has led the Industrial Automation Application segment to emerge as a significant contributor to the rapid development of the Industrial Wireless Sensor Networks (IWSN) market in 2021, and this trend is expected to continue from 2022 to 2030. The adoption of wireless sensor networks for improved efficiency, productivity, and safety is driving this growth. An Industrial Internet Consortium (IIC) survey found that 66% of respondents identified industrial automation as the primary use case for industrial wireless sensor networks.
North America is expected to become a dominant player in the Industrial Wireless Sensor Networks (IWSN) market, with a projected CAGR of 18.82% during the forecast period of 2022 to 2030. The high adoption rate of advanced technologies in industries, along with government initiatives promoting the adoption of Industry 4.0 technologies are driving the expansion in the region. The Department of Energy (DOE) has recently established the Advanced Manufacturing Office (AMO) to support the development and implementation of advanced manufacturing technologies, including wireless sensor networks in industries across the country.
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Wireless Sensor Network Nodes Segment to Exhibit Strong Growth Due to Increasing Demand for Wireless Sensor Networks in Various Industries
The Industrial Wireless Sensor Networks (IWSN) market experienced the dominance of the Wireless Sensor Network Nodes segment in 2021, and this trend is expected to continue from 2022 to 2030. The growth is driven by the increasing demand for wireless sensor networks in the oil and gas, chemical, and pharmaceutical industries, along with the adoption of IoT and Industry 4.0 technologies that support remote monitoring and predictive maintenance in industrial applications.
In addition, the Asia Pacific region has emerged as a significant market force in the IWSN market and is expected to maintain its leading position by 2030. SkyQuest forecasts significant growth in the region, with a projected CAGR of 14.97% during the forecast period. This expansion is attributed to the growing demand for air travel, an increase in the middle-income population, and the growth of aerospace and defense industries in the region. The Made in China 2025 initiative by the Chinese Government majorly focuses on the development of industrial wireless sensor networks to enhance manufacturing efficiency and competitiveness.
A comprehensive analysis of the major players in the Industrial Wireless Sensor Networks (IWSN) market has been recently conducted in the report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in Industrial Wireless Sensor Networks (IWSN) Market:
- Intel recently launched its 13th Gen Intel Core processor family, with the 13th Gen Intel Core i9-13900K leading the lineup as the fastest desktop processor in the world. This latest family of processors consists of six new unlocked desktop processors, featuring up to 24 cores, 32 threads, and clock speeds up to 5.8 GHz. The new desktop family, which includes 22 processors and over 125 partner system designs, offers improved application performance and platform compatibility. Enthusiasts can use the 13th Gen Intel Core processors with existing Intel 600 or new Intel 700 series chipset motherboards, along with DDR5 and DDR4 memory support.
- Siemens AG has launched the Simatic RF615R, a new UHF RFID reader designed for industrial automation applications. The reader features improved flexibility, scalability, and security features, making it easier for industrial companies to integrate RFID technology into their operations. This launch is anticipated to boost the growth of the industrial wireless sensor network market, as RFID technology is often used in combination with wireless sensor networks to provide real-time monitoring and control of industrial processes.
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Key Questions Answered in Industrial Wireless Sensor Networks (IWSN) Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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