Allied Market Research, titled, Industrial Wireless Sensor Network Market by Sensor, Technology, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global industrial wireless sensor network market was valued at $573 million in 2016, and is projected to reach at $1,200 million by 2023, growing at a CAGR of 11.0% from 2017 to 2023.
Presently, North America dominates the industrial wireless
sensor network market. However, China is expected to register the highest
growth in Asia-Pacific by 2023. Moreover, the UK is anticipated led the overall
market in the European region in 2023. Presently, the U.S. dominates the North
American market.
Surge in popularity of industrial wireless sensor technology
has driven the market growth. Furthermore, low cost and easy deployment of
industrial wireless sensor network fuel the growth of the market. However, data
security and privacy concerns are expected restrain the growth of the market.
In 2016, the Wi-Fi segment dominated the global industrial
wireless sensor network market, in terms of revenue. However, based on sensor
type, others sensor segment led the global market, followed by flow sensor in
2016.
Key Findings of the Industrial Wireless Sensor Network
Market:
- Oil
& gas generated the highest revenue in 2016.
- In
2016, the Wi-Fi segment accounted for the highest revenue in the
industrial wireless sensor network.
- Asia-Pacific
is anticipated to exhibit the highest revenue in 2023.
The key players profiled in the report include ABB Ltd.,
STMicroelectronics, Honeywell International Inc., Texas Instruments, Inc.,
Siemens AG, Endress+Hauser AG, Linear Technology Corporation, NXP
Semiconductors, Schneider Electric, and Emersion Electric.
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