Industrial Wireless Sensor Network Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global industrial wireless sensor network market size reached US$ 5.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.1 Billion by 2028, exhibiting a growth rate (CAGR) of 17.69% during 2023-2028.
An industrial wireless sensor network (IWSN) comprises tiny autonomous sensors or nodes that are physically distributed in space. It relies on radio frequency (RF) waves to monitor and communicate several conditions, such as temperature, vibration, pressure, pollutants, and motion. It is easy to install and relocate while saving labor costs, energy, and materials compared to wired solutions. It enhances productivity as IWSN can automatically supervise processes without any manual intervention. As a result, it finds applications in machine health analysis, manufacturing, condition-based maintenance, automated metering, remote monitoring, and inventory, vehicle and personnel management.
Industrial Wireless Sensor Network Market Trends:
At present, the growing demand for IWSN to improve communication between industrial devices and ensure seamless communication using wireless systems represents one of the key factors driving the market. Besides this, there is a rise in the utilization of artificial intelligence (AI), machine learning (ML), and big data analytics to analyze the large database of temperature, motion, pressure, gas, flow, and chemicals. This, along with the increasing development of network infrastructure, is contributing to the growth of the market. Moreover, the escalating demand for IWSN in the oil and gas industry to remotely monitor pipelines, natural gas leaks, and corrosion is offering lucrative growth opportunities to industry investors. In addition, there is an increase in the demand for WirelessHART and ISA-100.11a technologies in various industries across the globe. This, coupled with the growing demand for the internet of things (IoT) connected devices around the world, such as smart mobiles, refrigerators, fire alarms, door locks, bicycles, and fitness trackers, is positively influencing the market. Apart from this, the increasing application of IWSN in robotics for sensing, recognition, and interpretation of numerous programs is propelling the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial wireless sensor network market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, sensor type, application and end use.
Breakup by Component:
Breakup by Sensor Type:
Breakup by Application:
Safety and Surveillance
Breakup by End Use:
Food and Beverages
Oil and Gas
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Analog Devices Inc., Banner Engineering Corp., Emersion Electric Co., Endress+Hauser Management AG, Honeywell International Inc., NXP Semiconductors N.V, Schneider Electric, Siemens AG, ST Microelectronics, Texas Instruments Inc. and Yokogawa Electric Corporation.
Key Questions Answered in This Report
1. What was the size of the global industrial wireless sensor network market in 2022?
2. What is the expected growth rate of the global industrial wireless sensor network market during 2023-2028?
3. What are the key factors driving the global industrial wireless sensor network market?
4. What has been the impact of COVID-19 on the global industrial wireless sensor network market?
5. What is the breakup of the global industrial wireless sensor network market based on the component?
6. What is the breakup of the global industrial wireless sensor network market based on the sensor type?
7. What is the breakup of the global industrial wireless sensor network market based on application?
8. What are the key regions in the global industrial wireless sensor network market?
9. Who are the key players/companies in the global industrial wireless sensor network market?
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