Global Industrial Wireless Sensors Market 2017-2021

Overview of the global industrial wireless sensors market

Technavio’s market research analyst predicts the global industrial wireless sensors market to grow steadily at a CAGR of above 11% by 2021. One of the primary drivers for this market is the rise in demand for wireless sensors in the oil and gas industry. The demand for energy and power is continuously increasing, which has given rise to the demand for oil and gas globally. Following the rise in the demand for oil and gas across the world, the global oil and gas industry is focusing on the efficient supply of crude oil. To cater to this growing demand, the oil and gas companies need to expand their exploration opportunities and upgrade their existing processes. Also, to increase productivity and to achieve energy efficiency, oil and gas companies are focusing on the effective deployment of wireless sensors in their plants, refineries, and production sites. As a result, the demand for industrial wireless sensors for applications in the oil and gas industry is increasing, which in turn, is expected to propel growth during the forecast period. 

In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The industrial wireless sensors market in the Americas is majorly driven by the investments in the industrial internet of things (IIoT) to increase productivity, deliver high-quality products, and track the performance of products after they leave the factory floor. Also, the US is a hub for industrial wireless sensors and most of the end-user industries in the region have deployed these sensors. The above-mentioned factors are expected to augment growth in the global industrial wireless sensors market in the coming years.

Competitive landscape and key vendors

The global industrial wireless sensors market is a fragmented market dominated by established multinational automation manufacturers. This market has grown significantly in the last two decades and has faced developments, such as the reduction in size and prices of products, and robustness to ensure their operation in extreme weather conditions. Moreover, the absence of technological standardization in the market is expected to intensify the competition during the next four years further.

Leading vendors in the market are –

• ABB
• Honeywell International
• Rockwell Automation
• Siemens AG

Other prominent vendors in the industrial wireless sensors market include Baumer, Curtiss-Wright Corporation, Danfoss, Emerson, General Electric, JUMO, ProTAACS, SCHMIDT Technology, Schneider Electric, Shanghai Yuanben Magnetoelectric Tech, Shenzhen Sensor Electronic Technology, SIKO, Texas Instruments Incorporated, Johnson Controls International plc, and Yokogawa Electric Corporation.

Segmentation by product and analysis of the industrial wireless sensors market

• Flow sensors
• Temperature sensors
• Gas sensors
• Pressure sensors

During 2016, the flow sensors segment dominated the industrial wireless sensors market and accounted for a major part of the overall market share. Factors such as the high reliability and the capability to offer a solution for measuring gas, liquid, and steam are the key contributors to the dominance of this segment in the global market.

Segmentation by end-user and analysis of the industrial wireless sensors market

• Industrial
• Energy

In this market study, analysts have estimated the industrial segment to dominate the industrial wireless sensors market during the forecast period. The high demand for industrial wireless sensors in the food and beverage and transportation sectors coupled with the increase in the adoption of IIoT in the automotive industry are the major factors responsible for the growth of this segment in the industrial wireless sensors market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global industrial wireless sensors market?
• What are the key market trends impacting the growth of the global industrial wireless sensors market?
• What are the challenges to market growth?
• Who are the key vendors in the global industrial wireless sensors market?
• What are the market opportunities and threats faced by the vendors in the global industrial wireless sensors market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global industrial wireless sensors market?

Technavio also offers customization on reports based on specific client requirement.

With several benefits including the ease in monitoring, controlling, and troubleshooting systems from remote locations, there is an increasing adoption of industrial wireless sensor networks (IWSN) across various industries, especially food and beverage, oil and gas, energy and the mining sectors. By considering various parameters such as the recent shift in consumer preferences, factors challenging the growth of the market, and the strategies followed by the vendors in the industry, research analysts at the global market research firm Technavio provide a comprehensive collection of various market research reports that help clients in the automation sector improve their sales volume and enhance revenue shares. Additionally, Technavio’s reports also provide information on companies who dominate various regional and global markets for the industrial automation industry.

To identify the emerging market trends and the industry’s growth prospects, which will help clients deduce effective growth strategies, our market research experts follow a mix of proven research techniques and make a detailed analysis of various parameters including technological advancements and the products offered by the leading market players. By analyzing information on parameters such as the products and services offered by major competitors and the usage of appropriate analytical tools, our upcoming market research report on industrial wireless sensors for the forecast period of 2017 to 2021 will help clients understand the frequently changing supply landscape for the automation sector.

This upcoming report on Industrial wireless sensors also considers the growth of the similar markets such as industrial communication, which will grow at a CAGR of close to 13% by 2021 and industrial sensors, which is expected to grow at a CAGR of about 10% during the period of 2016 to 2020. According to our experts, the increasing focus of all the industries towards automation technologies to improve their efficiencies will be a major factor driving the demand for wireless sensors from the industrial sector. Additionally, the rising adoption of the industrial internet of things (IIoT), which will eventually help companies in reducing their operational costs and improve revenue shares, will also fuel the adoption of industrial wireless sensors across various industries. To help the domestic and regional vendors and businesses targeting niche segments improve their market positions, Technavio also provides customized reports based on client specifications.

The upcoming industry research report for industrial wireless sensors also identifies the drivers, trends, as well as the challenges currently experienced by vendors in the automation sector. Additionally, the report also presents insights into the changing competitive landscape which will give clients a realistic picture of the industrial automation industry.