The global industrial wireless automation market is poised to grow by USD 2.03 billionduring 2020-2024, progressing at a CAGR of over 7% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled Global Industrial Wireless Automation Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Industrial Wireless Automation Market Analysis Report by Solution (Field instrument and Communication network), End-user (Process industry and Discrete industry), Geographic segmentation (North America, APAC, Europe, South America, and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by the growing adoption of high-speed communication network solutions for fast data transfer in the industrial sector. In addition, the increasing focus on predictive maintenance is anticipated to boost the growth of the industrial wireless automation market.
The evolution phase of communication protocols has led to an increase in bandwidth and advancements in related devices such as connectors and cables. Some of the major wireless communication network solutions used to transfer data include wireless highway addressable remote transducer (HART) protocol, ISA100.11a, WLAN, RFID, and Bluetooth. These wireless solutions are gaining prominence because they offer varied advantages. For instance, an industrial wireless automation solution such as Wireless HART not only supports energy management, process monitoring, regulatory compliance, and environmental monitoring but also ensures data protection. Thus, the growing adoption of high-speed communication network solutions for fast data transfer in the industrial sector is expected to drive market growth during the forecast period.
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Major Five Industrial Wireless Automation Market Companies:
ABB Ltd. is headquartered in Ireland and operates the business under various segments such as Electrification Products, Robotics and Motion, and Industrial Automation. The company offers Industrial wireless automation solutions.
Cisco Systems Inc.
Cisco Systems Inc. offers products through the following business units: Product and Service. The company offers Cisco Connected Factory Wireless, which enables plantwide communications between machines, databases, and people on the plant floor.
Emerson Electric Co.
Emerson Electric Co. operates under various business segments, namely Automation Solutions, Climate Technologies, and Tools Home Products. The company offers Wireless Network, Wireless Analytics, Wireless Power, and Others.
General Electric Co.
General Electric Co. offers products through the following business segments: Power, Renewable Energy, Aviation, Oil Gas, Healthcare, and Others. The company offers industrial wireless automation solutions that include wireless radios for unlicensed and licensed narrowband communication, industrial 2G, 3G, and 4G LTE cellular routers and gateways.
Honeywell International Inc.
Honeywell International Inc. offers products through the following business segments: Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers industrial wireless automation solutions called OneWireless Solutions.
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Industrial Wireless Automation Market Solution Outlook (Revenue, USD Billion, 2020-2024)
- Field instrument
- Communication network
Industrial Wireless Automation Market End-user Outlook (Revenue, USD Billion, 2020-2024)
- Process industry
- Discrete industry
Industrial Wireless Automation Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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