Global Industrial Wireless Market in Discrete Industries 2018-2022
About Industrial Wireless in Discrete Industries
Wireless communication is the transfer of data over a distance without the involvement of wires, cables, or any electrical conductors. Such communication exists between two entities that are both capable of receiving and sending data to each another.
Technavio’s analysts forecast the global industrial wireless market in discrete industries to grow at a CAGR of 17.37% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial wireless market in discrete industries for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Wireless Market in Discrete Industries 2018-2022
Technavio recognizes the following companies as the key players in the global industrial wireless market in discrete industries: ABB, Cisco, Rockwell Automation, Schneider Electric, and Siemens.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing advancement in communication technology. The growing advancement in communication technology will drive the growth of the industrial wireless market in discrete industries throughout the forecast period. Players in the wireless industry automation market are competing strongly by offering new technologies such as cloud computing and 5G network.”
According to the report, one driver in the market is growing importance of real-time data analysis. Incorporation of real-time data analytics along with historical data enables the analysis of data to determine new possible outcomes in industrial facilities. Technavio’s market research analysts have identified the growing importance of real-time data analysis to be one of the primary growth factors for the industrial wireless market in discrete industries.
Further, the report states that one challenge in the market is data security. Industrial internet aids in providing real-time access to operational data, which implies integrating the corporate network with the industrial systems. This integration not only allows end-users to leverage on various capabilities such as predictive maintenance and smart analytics but also exposes the industrial systems to cyber threats.