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Industrial Wireless Sensor Network Market is expected to Garner $1,200 Million by 2023 growing at CAGR 11.0%

02-21-2019 04:11 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Industrial Wireless Sensor Network Market

Industrial Wireless Sensor Network Market

According to a recent report published by 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.

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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.

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

Send Enquiry for Purchase Report @: https://www.alliedmarketresearch.com/purchase-enquiry/1064?utm_source=openpr&utm_medium=vs

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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