Industrial wireless sensor network (IWSN): Key market research findings
- The Americas dominate the market geographically
- Rising adoption of wearable devices in industries propels market growth
- Key vendors – ABB, Honeywell Process Solutions, Linear Technologies, NXP Semiconductor, Schneider, Siemens, STMicroelectronics, Texas Instruments, and Yokogawa
Technavio’s market research analysts predict the global market for industrial wireless sensor network to grow at a CAGR of around 15% between 2016 and 2020. The growth of the market is spurred by increasing replacement rate of wired sensors. Industries are now replacing wired sensors with their wireless alternatives as it enables them to achieve both cost and energy efficiency. As wireless sensors do not require any wirings and conduits for installation, they provide industries with better cost efficiency than wired sensors. During 2015, the Americas accounted for more than 33% of the overall market space to dominate the global IWSN market. Significant investments in IoT and industrial IoT (IIoT) in an effort to increase productivity in the region will contribute to the growth of the IWSN market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the IWSN segments based on the technology standards.
“Wearable devices are becoming increasingly popular among industries owing to their numerous benefits. By using wearable devices, industries can minimize process timelines and achieve operational efficiency. In 2015, Airbus implemented wearable devices in the aerospace and defense industries in collaboration with Accenture. The wearable device helps reduce complexities associated with the assembly of cabin seats in the aircraft and minimizes the time involved in the completion of the task,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
During 2015, the ZigBee sensors segment was the key revenue contributor in the global IWSN market by accounting for around 30% of the overall market share. ZigBee is used in a variety of applications of wireless sensor networking such as wireless light switches, electrical meters, traffic management systems, and many other industrial applications that involve wireless data transfer within a short range of distance (10-100m). This technology is mainly suitable for intermittent data transfer from wireless sensors.
The key vendors in the global IWSN market include ABB, Honeywell Process Solutions, Linear Technologies, NXP Semiconductor, Schneider, Siemens, STMicroelectronics, Texas Instruments, and Yokogawa. Apart from customized solutions, vendors compete on the basis of technological innovation because the global IWSN market is highly innovation-driven. Vendors in the market are also focusing on accelerating investments in the development of low-power and low-energy consumption wireless sensors. As the IWSN market is faced with a major challenge of low battery life of wireless sensors, vendors are also focusing on implementing new technologies to enhance the battery life of wireless sensors.
A more detailed analysis is available in the Technavio report, Global IWSN Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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