Industrial transmitters: Key market research findings
- The Americas dominate the market geographically
- Increasing popularity of wireless transmitters
- Key vendors – ABB, Emerson Electric, Honeywell, Schneider Electric, and Yokogawa
Technavio’s market research analysts predict the global market for industrial transmitters to grow at a CAGR of over 5% between 2016 and 2020. The growth of the market can be accredited to the development of integrated transmitter solutions. With the increasing number of process parameter nodes in the end-user sectors, vendors are integrating multiple transmitter technologies into single components for ease of installation and commissioning. The development of these integrated transmitter solutions has truncated the need for multiple transmitter installations in a single process line. During 2015, the global industrial transmitters market was dominated by the Americas, which accounted for almost 37% share of the overall market. The high degree of product differentiation of some vendors in this region will contribute to the growth of the industrial transmitter market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the industrial transmitter segments based on the type.
“Wireless transmitters are becoming increasingly popular in the market as it can be easily installed in hard-to-reach areas and incurs lower installation cost by eliminating the cost of wiring runs. Incorporation of wireless technologies have increased the reliability of wireless application and resolved performance issues such as disruption in transmission and loss of data packets. The conversion from wired to wireless communication in the process industries has compelled vendors to concentrate more on developing wireless transmitters to address various demands of end-users,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
By 2020, the flow transmitter segment will account for almost 34% of the overall market revenue to continue its dominance as the key revenue generating segment of the global market. Flow transmitters find larger acceptance with reverse flow process solutions. These types of transmitters can measure the bi-directional flow of liquid and gasses. Hence, they find major adoption in the chemicals and beverages industries, where mixing of multiple ingredients is practiced. Factors such as the demand from capacity expansions, new project commissioning, and growing need for automation solutions will contribute to the growth of the flow transmitter segment during the forecast period.
The key vendors in the global industrial transmitters market include ABB, Emerson Electric, Honeywell, Schneider Electric, and Yokogawa. Softening demand in new orders reported by a large number of vendors toward the start of 2015 reduced the growth of pressure transmitter shipments throughout the year. Furthermore, the ongoing low oil prices will keep capital investment low in the oil and gas industry, which pushed more number of transmitter vendors to curb down their investment for pressure transmitter while investing more in radar level transmitter and humidity transmitter, which is generally used in heavy commercial vehicles and factory automation solutions.
A more detailed analysis is available in the Technavio report, Global Industrial Transmitters Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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