Complete Scenario of Growth Of Biosimulation In Global Industrial Wireless Sensor Network Market & It's Trends

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.

The industrial wireless sensor network (IWSN) is the network of distributed sensing platform with wireless communication. IWSN is positioned in remote areas, and uses wireless technology to transmit signals to the control room. Furthermore, the system can be controlled, troubleshot, and monitored remotely. Moreover, it is majorly used for process & control monitoring and data processing.

The global industrial wireless sensor network market is expected to register substantial growth in the near future, owing to surge in popularity of IWSN among various industry verticals such as oil & gas, automotive, manufacturing, healthcare, and others. Furthermore, increase in need to improve process efficiencies and easy deployment of industrial wireless sensor network drive the market growth. Advantages offered by IWSN such as its easy-to use & application-specific nature further fuel its adoption. However, rise in data security and privacy concerns is the key factor that hinders the growth of the market.

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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.

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.

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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.

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