London, 05 May 2015 – Growing industrial activity in the APAC region is fuelling growth in the global industrial wireless market for factory automation, which is expected to post a CAGR of 12.57 % from 2015-2019, says research firm Technavio.
About the Report
The global market depends on the low-cost manufacturing hubs in the APAC region (like China and India) for the majority of manufacturing outsourcing activity. Major manufacturers from Americas and EMEA are setting up facilities in the region to leverage its cost advantage.
“The industrial wireless systems enhance communication and enable global access to all applications, which is encouraging their use among industries,” says Faisal Ghaus, Vice President of Technavio.
The latest industry analysis report by Technavio also draws attention toward the need for smart factories, which has increased globally. This trend is expected to gain considerable traction during the forecast period. Manufacturing based countries like China and Germany have started automating their existing factories to stay ahead of the competition.
“Automation enables better communication and precise coordination within factories and ensures flexibility in their underlying processes.”
Market Scope and Calculation of Market Size
In this report, we cover the present scenario and the growth prospects of the global industrial wireless market for factory automation for the period 2015–2019. The report includes the vendor landscape and a corresponding detailed analysis of the key vendors in the market.
Key Information Covered in the Report:
Key Vendors:
- Emerson Electric Co.
- Honeywell International Inc.
- Siemens AG
- Yokogawa Electric Corp.
Market Growth Drivers:
- Growing industrial activity in APAC
- For a full detailed list, view our report.
Market Challenges:
- Lack of awareness about industrial wireless solutions
- For a full detailed list, view our report.
Market Trends:
- Increased need for smart factories
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
