Press release
Industrial Wireless Sensor Network Market by Sensor, Technology, and Industry Vertical (Oil & Gas, Automotive, Manufacturing, Healthcare, and Others), Global Opportunity Analysis and Industry Forecast, 2017-2023
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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.
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Factors that are expected to impact the global industrial wireless sensor network market during the forecast period are as follows:
•Surge in popularity of industrial wireless sensor network
•Low cost and easy deployment of industrial wireless sensor network
•Data security and privacy concerns
•Increase in industrialization in the emerging markets
By industrial vertical, oil & gas segment is dominant segment in 2016. Based on sensor type, level sensor is expected to register the highest CAGR of 14.6% during the forecast period, followed by biosensor and temperature sensor with CAGR 13.8% and 11.9%, respectively.
Key Market Players Profiled
• ABB Ltd.
• STMicroelectronics
• Honeywell International Inc.
• Texas Instruments, Inc.
• Siemens AG
• Endress+Hauser AG
• Linear Technology Corporation
• NXP Semiconductors
• Schneider Electric
• Emersion Electric
ABB Ltd., STMicroelectronics, Honeywell International Inc., Texas Instruments, Inc., Siemens AG, Endress+Hauser AG, Linear Technology Corporation, NXP Semiconductors, Schneider Electric, and Emersion Electric are some of the key players operating in the global industrial wireless sensor network market.
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North America is expected to dominate the global industrial wireless sensor market, in terms of revenue. Moreover, the U.S. is anticipated to dominate the market in North America during the forecast period, whereas the UK is anticipated to lead the European region.
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