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Industrial Wireless Sensor Network Market Revenue is Expected to ReachUS$ 7,000 Mn by 2026

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Industrial Wireless Sensor Network Market Revenue is Expected to ReachUS$ 7,000 Mn by 2026
Industrial Wireless Sensor Network Market Will Reach US$ 7,000 Mn in Revenues by 2026
A new analytical research report composed by Persistence Market Research projects the global
market for industrial wireless sensor network market to record a spectacular expansion during the
assessment period 2017 to 2026. Revenues from worldwide sales of industrial wireless sensor
network are estimated to close in on approximately US$ 7,000 Mn by 2026-end.
Growing Implementation of Automation Technologies to Drive Demand for Industrial Wireless
Sensor Network
Operational efficiency has remained a key priority among various industries for retaining their
position in the industrial marketplace, wherein competition is becoming intense. This has further
prompted industries around the world to direct their focus toward implementation of automation
technologies. Automation helps these industries in efficiently monitoring, managing, and
controlling their processes, which in turn enables realization of operational efficiency. Automation
can be achieved through deployment of industrial robots that enable maximizing productivity,
meanwhile inhibiting manufacturing errors. Adoption of industrial robots and automation further
entails the requirement for numerous wireless sensors and an efficient network of these sensors to
carry out the processes effectively.
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Influence of the widespread economic development on demand for energy and power has been
continuously increasing over the past few years, which in turn has been putting huge pressure on the
oil & gas industry. In a bid to cater growing demand, oil & gas companies are exploring potential
opportunities, while focusing on the upgradation of their existing processes. Effective deployment
of a wireless sensor network has become a top priority within these companies, for increasing their
productivity and achieving energy efficiency. This facilitates oil & gas industries to efficiently
monitor the equipment condition, apart from maintaining industrial safety and efficiency.
Based on technology type, WirelessHART will continue to hold the largest market revenue share,
with demand driven by its provision of user-friendly environment and effective maintenance of
compatibility with systems, tools, and devices. In addition, WirelessHART seeks extensive adoption
in open wireless communication for process management & monitoring applications.
North America will continue to spearhead the global industrial wireless sensor network market, in
terms of revenues. Adoption of industrial wireless sensor network in the region’s industrial sectors
has surged tremendously in light of its easy access to data, easy installation, compactness, and
elimination of the wired networks in movable parts and hazardous environments. Increasing
investment in wireless connectivity by various industries is a key growth determinant for the market
in North America.
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Based on end-use industry type, automotive and food & beverage are expected to account for major
shares of the market during 2017 to 2026. Increasing utilization of sensor network and large
availability of the predictive maintenance, automated process management solutions, and quality
control solutions will boost adoption of industrial wireless sensor networks in these end-use
industries.Temperature sensors and sound sensors will remain sought-after in the market, with
revenues collectively estimated to account for over one-third market share by 2026-end.
Machine monitoring will prevail as the largest application of industrial wireless sensor network, in
terms of revenues. The global industrial wireless sensor network market is characterized by the
occupancy of numerous large- and small-scale companies, which in turn has made the market’s
nature highly fragmented. Lack of technological standardization is likely to intensifying the degree
of the market competition. Small vendors fundamentally compete in terms of their ability of
offering user-friendly & technologically advanced industrial wireless sensor networks, and aid enduse industries in maximizing their productivity.
Highly innovation-driven, vendors in the market are continuously making enormous investments in
the development of wireless sensor networks that consumer low energy & power, as well as the
enhancement of these wireless sensors’ battery life. Key market players listed in PMR’s report
include BeanAir, Banner Engineering Corp, NXP Semiconductors, Yokogawa Electric Corporation,
Emerson Electric Co., Schneider Electric, Linear Technology, Honeywell International Inc., and
STMicroelectronics.
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