Industrial Wireless Market in Discrete Industries by End-user and Geography - Forecast and Analysis 2020-2024

The industrial wireless market size in discrete industries has the potential to grow by USD 3.94 billion during 2020-2024, and the market's growth momentum will accelerate at a CAGR of 11.26%. 

This report provides a detailed analysis of the market by end-user (automotive, electronics, aerospace, and heavy machinery), geography (APAC, Europe, MEA, North America, and South America), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market's competitive landscape and offers information on several market vendors, including: 

 

• ABB Ltd.
• Belden Inc.
• Cisco Systems Inc.
• General Electric Co.
• Honeywell International Inc.
• OMRON Corp.
• Rockwell Automation Inc.
• Schneider Electric SE
• Siemens AG
• Yokogawa Electric Corp.

 

The industrial wireless market in discrete industries is fragmented and the vendors are deploying growth strategies such as investing in R&D activities for advanced products to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as the growing importance of real-time data analysis to achieve growth opportunities. However, factors such as a dominant market share of wired networking systems will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the industrial wireless market forecast report for discrete industries for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies, 

This industrial wireless market analysis report for discrete industries also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities. 

Industrial Wireless Market in Discrete Industries: Key Drivers and Trends

The growing importance of real-time data analysis is one of the key factors expected to trigger the industrial wireless market's growth in the forthcoming years. The incorporation of real-time data analytics along with historical data enables the analysis of data to determine new outcomes in industrial facilities. Real-time analytics in the industry offers benefits such as quick and accurate results, reduction in the cost of operations, and adaptability to customized products. The growing need to combine machines located in remote locations to carry out data assimilation and analytics will drive the growth of the wireless industry automation market.

The growing advancement in communication technology is one of the key industrial wireless market trends, which will drive market growth in discrete industries throughout the forecast period. Players in the wireless industry automation market are competing strongly by offering modern technologies such as cloud computing and 5G network. These advanced technologies reduce data storage dependency and aid in enhancing production. Implementation of 5G technology is consequent in improved remote monitoring, improved connectivity, and increased data rates, which creates better products and services.

 

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Industrial Wireless Market in Discrete Industries: Segmentation by Geography

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47% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for industrial wireless in discrete industries in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing investments in discrete industries is one of the prime factors that will facilitate the industrial wireless market growth in discrete industries in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Industrial Wireless Market in Discrete Industries: Segmentation by End-user

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The use of industrial wireless protocols in the automotive industry eliminates the need for wiring, reduces a substantial amount of downtime, and minimizes the cost of maintenance. The demand for industrial wireless protocols in the automotive industry is expected to increase during the forecast period, considering the increasing need to adopt IIoT product offerings. Industrial wireless protocols will also record significant demand in the automotive industry, with vendors requiring increased mobility inside the factory premises. The industrial wireless market share growth in discrete industries by the automotive segment will be faster than the aerospace and heavy machinery segments.    

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial wireless market size in discrete industries. Fetch actionable market insights on post COVID19 impact on each segment.   

 

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Industrial Wireless Market in Discrete Industries: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive industrial wireless market growth in discrete industries during the next five years
• Precise estimation of the industrial wireless market size in discrete industries and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the industrial wireless market in discrete industries across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of industrial wireless market vendors in discrete industries 

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