A wireless sensor network (WSN) comprises a number of sensors placed at strategic locations within the vicinity of a particular environment. These sensors gather data about particular areas that are within their range and then transmit this information to a central station. The central station receives information from all the sensors and then collates and analyzes the data about a particular environment. Some key data that a sensor can provide include temperature, pressure, and decibel level conditions. WSNs were initially used for military applications for the purpose of surveillance in a battlefield area. Today, WSNs are used across a wide range of verticals. Some of these verticals are illustrated in the exhibit below.
Technavio’s analysts forecast the global industrial wireless sensor network (IWSN) market to grow at a CAGR of 14.95% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial wireless sensor network (IWSN) market for 2016-2020. To calculate the market size, the report considers revenue generated from the implementation of wireless sensor networks in industrial facilities throughout industries and geographies.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Wireless Sensor Network (IWSN) Market 2016-2020
Technavio recognizes the following companies as the key players in the global industrial wireless sensor network (IWSN) market: Honeywell Process Solutions, Linear Technology, NXP Semiconductors, Texas Instruments, ABB, Schneider Electric, Siemens, STMicroelectronics, and Yokogawa Electric.
Commenting on the report, an analyst from Technavio’s team said: “Adoption of wearable devices in industries will be a key trend for market growth. With the increasing penetration of wearable devices in the commercial market, wearable devices are also becoming increasingly popular for industrial usage due to their numerous benefits. By using wearable devices, industries can minimize process timelines and achieve operational efficiency and hence, these devices are being increasingly adopted by organizations. For instance, in 2015, Airbus implemented wearable devices in the aerospace and defense industries in collaboration with Accenture. The wearable device helps reduce the complexities associated with the assembly of cabin seats in the aircraft and minimizes the time involved in the completion of the task.”
According to the report, one of the key drivers for market growth will be increase in demand for wireless sensors in oil and gas industry. The widespread economic development has led to a significant growth in economies across the globe, especially in the developing countries. With the growth of the economy, demand for energy and power is constantly increasing, which has resulted in a rise in demand for oil and gas globally. The consumption of oil and gas increased from 90.5 million barrels per day in 2012 to 93.8 million barrels per day in 2015, and we expect the same to exceed 100 million barrels per day by 2020.
Further, the report states that lack of technological standardization will be a challenge for the market. IWSN applications are based on a number of different technological standards such as Bluetooth, Wi-Fi, ZigBee, WirelessHART, and EnOcean. Different industries use different standards for wireless communication through sensors and there is no particular standard specification that is suitable for wireless sensors across industries worldwide. This lack of technological standardization leads to confinement in the scope of expansion. For instance, if an industry or an organization uses ZigBee standard for their IWSN applications, it has to ensure that in the case of expansion or incorporation of new IWSNs, the new sensors are ZigBee-compliant. This confines the scope of expansion for industries, as they have to maintain the compatibility with the existing standards and generates an indispensable need for the development of technological standardization.
Honeywell Process Solutions, Linear Technology, NXP Semiconductors, Texas Instruments, ABB, Schneider Electric, Siemens, STMicroelectronics, Yokogawa Electric.
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