Description
The
goal of this report is to characterize, portray, and estimate the market on the
premise of sort, application, therapeutic condition, and area. It gives
point-by-point data with respect to the main considerations influencing the
development of the market. This report likewise tracks and examines aggressive
improvements of the key players regarding market advancements, item portfolios,
and financials
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The
global industrial wireless sensor network (IWSN) market size is anticipated to
reach USD 8.67 billion by 2025, according to a new report by Grand View
Research, Inc., exhibiting a 14.5% CAGR during the forecast period. Benefits
offered by IWSN over wired networks, such as mobility, self-discovery
capability, compact size, cost-effectiveness, and reduced complexity, are
anticipated to play a significant role in increasing global demand
IWSN
is an advanced method of communication between two or more remotely-located devices
without interruption. The systems comprise nodes that act as access points to
form a better communication system. In IWSN, sensor nodes are connected through
various wireless technologies such as ZigBee, Wi-Fi, Bluetooth, and
WirelessHART. Increasing adoption of wireless communication, need for strong
connectivity across remote locations, and demand for network infrastructure are
expected to fuel market growth
Recent
advancements in the fields of Internet of Things (IoT) and Artificial
Intelligence (AI) have further increased demand for wireless networks and
strong connectivity. Accelerated adoption of these technologies by the oil and
gas, manufacturing, utilities, and automotive verticals is expected to boost
the growth of the industrial wireless sensor network market. In addition, key
players in the market are investing heavily in R&D to explore the scope of
the technology for innovations, integration, and new product developments. For
instance, ABB Ltd., which has 7 research centers and more than 8,000
technologists, invested USD 1.5 billion in R&D in 2016
The
hardware segment is anticipated to witness substantial growth as they detect
activities and send information from one device to another through various
communication technologies. Increasing miniaturization of electronic components
and advancements in communication technology make it possible to develop a
seamless network. The software handles device-specific tasks, such as
initialization of hardware, memory management, and process management, as well
as scheduling. The software segment generated the highest revenue in 2016 and
the trend is expected to continue over the forecast period
Global
players in the IWSN market are collaborating with new entrants to provide
improved products and systems with enhanced performance. In January 2017,
Honeywell Process Solutions collaborated with AEREON to develop solutions that
help the industrial sector improve operational efficiency, safety, and
reliability
Further key findings from the report
suggest:
•
Demand for IWSN has increased over the years owing to benefits such as
elimination of complexity and cost-effectiveness as compared to wired networks
•
The hardware segment generated the highest revenue in 2016, owing to increased
adoption for process monitoring in industries such as automotive, oil and gas,
and mining
•
Numerous vendors are implementing compatible software for real-time monitoring
of data from sensor nodes
•
Global players in the IWSN market are collaborating with new entrants to
provide improved products and systems with enhanced performance
•
The Asia Pacific region is predicted to witness remarkable growth over the
forecast period owing to increasing applications of WSN in automotive,
manufacturing, and oil and gas industries
•
Key players in the market include ABB Ltd., Siemens AG, Schneider Electric,
Yokogawa Electric Corporation, and Texas Instruments
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This
report is a total investigation of ebb and flow inclines in the market,
business development drivers, and restrictions. It gives showcase projections
to the coming years. It incorporates investigation of late advancements in
innovation, Doorman's five power demonstrate examination and point by point
profiles of best industry players. The report additionally incorporates a
survey of miniaturized scale and large-scale factors fundamental for the
current market players and new participants alongside nitty gritty esteem chain
examination
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