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The industrial wireless market in process industries size is projected to increase by USD 2,058.26 million with growth at a CAGR of 13.29% between 2023 and 2028. The growth rate of the market depends on several factors, including a reduction in installation and retrofit costs of wireless systems, accelerating bandwidth requirements for upgrading existing networks and increasing focus on predictive maintenance. A wireless solution is a set of systems, devices, and services implemented in an industrial facility to guarantee continuous and consistent coverage and flow of operational data. In wireless technology, electromagnetic waves are deployed to transmit information in the form of signals using a communication channel.
The report includes a comprehensive outlook on the industrial wireless market offering forecasts for the industry segmented by Technology, which comprises WLAN, wirelesshart, wimax, and others. Additionally, it categorizes End-user into oil and gas industry, power industry, water and wastewater industry, and others and covers Region, including North America, APAC, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
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Accelerating bandwidth requirements for upgrading existing networks is notably driving market growth. The volume of data that is communicated within an organization has increased substantially in recent years. An increase in the use of instant messaging, video conferencing, and voice-over-Internet Protocol (VoIP) among businesses has increased the volume of packet data. This massive increase in network traffic has resulted in a reduction in network efficiency and certainty. Hence, organizations are investing heavily in wireless networks to manage this network traffic more efficiently
Moreover, the use of wireless technology has ensured that businesses can deploy the cloud-based platform to store such a large chunk of data and retrieve it anytime. This allows businesses to create a backup of their assets, secure critical information, and reduce operational risk. Therefore, accelerating bandwidth requirements for upgrading existing networks will drive the growth of the global industrial wireless market in process industries during the forecast period.
The growing use of M2M services across industries is an emerging trend shaping the market growth. Wireless technologies have evolved to simplify business operations across process industries. Advances in wireless solutions have empowered end-users to deploy M2M services for managing several facets of a business. Remote monitoring of M2M solutions has gained traction with the evolution of wireless management systems used in end-user industries, including wireless LANs, sensors, and other wearable devices. These advanced devices and technologies help to generate substantial information in critical areas and ensure seamless integration of multi-disciplinary industrial facilities and shop floors.
However, improvements in wireless technology have transcended science, engineering, and manufacturing to transmit long-range data related to industrial processes that operate in hostile and dangerous environments. Therefore, the growing use of M2M services across industries will drive the growth of the market during the forecast period.
Interoperability concerns with wireless technologies in process automation is a significant challenge hindering the market growth. Another major roadblock to the wide-scale adoption of wireless technologies in process automation is the interoperability concern faced by end-users. Most industrial users prefer an infrastructure solution that can connect and manage multiple systems and devices while ensuring the integrity of the overall process and interoperability while switching networks.
For instance, a ZigBee device can only connect to a ZigBee hub. Also, the end-user will be required to make separate networks based on ZigBee, Wi-Fi, or any other technology. All these factors have restricted the growth rate of the industrial wireless market in process industries despite its huge potential. These factors will hinder the growth of the industrial wireless market in process industries during the forecast period.
The market share growth by the WLAN segment will be significant during the forecast period. Process industries contain several devices, systems, and sub-processes that need to be interconnected to relay operational data on the shop floor. The deployment of WLAN helps to form a mesh of effective communication networks that assists operators and supervisors in keeping tabs on industrial processes.
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The WLAN segment was the largest and was valued at USD 747.26 million in 2018. The deployment of WLAN will be high among process industries as it is a relatively low-priced network compared to other wireless technologies with wide network coverage. In the base year, WLAN contributed the majority of the revenues to the overall industrial wireless market in process industries and will continue to be the majority shareholder shortly. New WLAN installations replacing wired communication in the process industries are anticipated to increase during the forecast period and hence will drive the growth of the WLAN segment of the industrial wireless market in process industries during the forecast period.
The oil and gas industry demands the design and execution of large production units and processing plants that need to be set up in harsh environmental conditions. Advanced technology in the form of new-generation networks involves the deployment of 5G networks for enhanced voice and data transfer between off-site and on-site personnel. Machine-to-machine interactions based on wireless communication platforms will assist the industry in streamlining its operations and attaining higher productivity. Trends in industrial wireless solutions for OGPI: Use of advanced wireless protocols to reduce costs, improve decision-making, and enhance workforce productivity. Despite a decline in the oil and gas sector, business owners will continue to invest in wireless and digital technologies during the next 2-3 years. Mobility solutions, the Internet of Things, and analytics hold the key to wireless technology solutions. Cloud computing will be a focus area for adding value to the overall business operations. These factors will drive the growth of the OGPI segment of the global industrial wireless market in process industries during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the industrial wireless market in process industries during the forecast period. This is due to the rise in industrial development activities in APAC and the slowdown of investments in developed regions such as Europe and North America. Industries in APAC are expected to invest aggressively in industrial wireless technology due to rising awareness and high productivity requirements. It is expected that investments in the wireless technology space will continue for the next decade due to the rising urbanization and favourable government support in this region. APAC has the largest number of petrochemical industries, thus attracting further investments in upgrading and adding new production facilities.
In addition, rapid industrial development and population growth in countries such as India, Indonesia, and Malaysia have created additional demand for power. These factors have increased investments in new power plant projects in the region. Further, wireless communication plays an integral role in monitoring and controlling several facets of the water treatment industry. With a constant emphasis on improving the quality of operations, wireless technology implementation will increase in the APAC water and wastewater industry during the forecast period.
The Industrial Wireless Market in Process Industries market forecast includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their industrial wireless market in process industries growth and market growth and trends strategies.
Global Industrial Wireless Market in Process Industries Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB Ltd. - The company offers industrial wireless products in process industries such as WirelessHART temperature sensor TSP300 W, WirelessHART temperature transmitter TTF300 W, and WirelessHART 266 pressure transmitters.
Advantech Co. Ltd. - The company offers industrial wireless products in process industries such as the AIW 100 series, AIW 200 Series, AIW 400 Series.
Antaira Technologies LLC - The company offers industrial wireless products in process industries such as AGS 7230 AC T US industrial IOT gateways, AMS 2111 Industrial Wireless LAN access point.
The Industrial Wireless Market in Process Industries growth and market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Industrial Wireless Market in Process Industries market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The industrial wireless market in process industries research report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028
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Industrial Wireless Market In Process Industries Scope |
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Report Coverage |
Details |
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Page number |
183 |
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Base year |
2023 |
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Historic period |
2018-2022 |
| Market forecasting Period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.29% |
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Market Growth 2024-2028 |
USD 2,058.26 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
11.66 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 38% |
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Key countries |
US, China, Japan, Russia, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ABB Ltd., Advantech Co. Ltd., Antaira Technologies LLC, Beckhoff Automation GmbH and Co. KG, Belden Inc., Cisco Systems Inc., Eaton Corp. Plc, Ependion AB, Hans Turck GmbH and Co. KG, Hewlett Packard Enterprise Co., HMS Networks AB, Honeywell International Inc., Huawei Technologies Co. Ltd., Moxa Inc., NEXCOM International Co. Ltd., Phoenix Contact GmbH and Co. KG, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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