Industrial Wireless Sensor Network Market Scope
The industrial wireless sensor network (IWSN) is the network of distributed sensing platform with wireless communication. IWSN is positioned in remote areas and uses remote technology to transmit signals to the control room. Furthermore, the system can be controlled, troubleshot, and monitored remotely. Additionally, it is majorly utilized for process & control monitoring and data processing.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Intel (United States), Huawei (China), Dell (United States), NXP Semiconductors (Netherlands), Stmicroelectronics (Switzerland), TE Connectivity (Switzerland), Advantech (Taiwan), ABB (Switzerland) and Honeywell (United States) |
CAGR | 7.13% |
The companies are exploring the market by adopting expansions, investments, and new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA estimates that Global Players will contribute to the maximum growth of Global Industrial Wireless Sensor Network market throughout the predicted period.
Intel (United States), Huawei (China), Dell (United States), NXP Semiconductors (Netherlands), Stmicroelectronics (Switzerland), TE Connectivity (Switzerland), Advantech (Taiwan), ABB (Switzerland) and Honeywell (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Broadcom (United States), Robert Bosch (Germany), Eurotech (Italy), Invensense (United States), Infineon Technologies (Germany), Texas Instruments (United States), Cisco Systems (United States) and Hewlett Packard Enterprise (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Industrial Wireless Sensor Network market by Type , by Application (Machine Monitoring, Process Monitoring and Asset Tracking) and Region with country level break-up.
On the basis of geography, the market of Industrial Wireless Sensor Network has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October 2023, PCTEL, Inc. (Nasdaq: PCTI)( “PCTEL” or the “Company”), a leading global provider of wireless technology solutions, today announced that it has reached a definitive agreement to be acquired by Amphenol Corporation (NYSE: APH), one of the world’s largest providers of high-technology interconnect, sensor and antenna solutions.
In February 2022, STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications and a top manufacturer of micro-electro-mechanical systems (MEMS), is introducing its third generation of MEMS sensors. The new sensors enable the next leap in performance and features for consumer mobiles and smart industries, healthcare, and retail
Influencing Trend:
Introduction of Smart Technologies Such as Artificial Intelligence (AI) and IoT in 5G
Market Growth Drivers:
Increasing Demand for Remote Monitoring
Challenges:
Limited Power Source and High Power Consumption by Sensors
Restraints:
Privacy and Security Concerns
Opportunities:
Growth in the Adoption of WSN Across SMBs
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations, End-Use Industries and Manufacturer, Supplier & Distributor