Industrial Wireless Solution Market Research Report Information By Type (Wireless Field Instruments, Mobile Computing Devices, Wireless Network), By Organization Size (Large Enterprise And SMEs) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
ID: MRFR/SEM/5779-HCR | 100 Pages | Author: Aarti Dhapte | October 2023
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Global Industrial Wireless Solution Market Overview:
Industrial Wireless Solution Market Size was valued at USD 2.9 Billion in 2022. The Industrial Wireless Solution Market industry is projected to grow from USD 3.6 Billion in 2023 to USD 21.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 25.00% during the forecast period (2023 - 2032).Increasing adoption of IoT and the growing demand for real-time data and analytics are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industrial Wireless Solution Market Trends
- Wireless adoption of technology is driving market growth.
Market CAGR for industrial wireless solution is being driven by the wireless adoption of technology. Traditional wired industrial systems necessitate physical cabling connecting equipment, which must pass through dangerous locations and may connect to moving parts, increasing the need for maintenance and the risk of failure. The fixed infrastructure of a wired system, on the other hand, cannot be quickly modified to make more efficient use of machines or to respond to changing demand. Furthermore, wired technologies necessitate higher administrative costs in order to construct a wiring infrastructure across the production. The disadvantages of wired systems are hastening the introduction of wireless solutions. The expansion of the Industrial WLAN Market is mostly due to increased expenditures in wireless HART or MIMO antenna technology to improve wireless communication and enable enhanced process automation. Through efficient predictive maintenance, wireless technology of ultra-reliable low latency connection eliminates unplanned downtime and enhances equipment longevity. Such advantages are expected to promote market expansion during the forecast period 2022-2030. For instance, in May 2019, Cisco collaborated with Linus Tech Tips to produce some new Meraki WiFi6 compatible access points, and such fresh advancements are bolstering the Industrial WLAN Market.
In addition, because self-driving cars rely largely on wireless technology, there has been a surge in demand for these networks around the world in recent years. The growing popularity of self-driving cars has increased this requirement. These networks are used in a range of automotive applications, including the management of automobile pollution, the prevention of automobile theft, the regulation of the intensity of headlights, the identification of vehicle sites, and the monitoring of vehicle health. Furthermore, the sensors used in self-driving automobiles aid in improving vehicle interconnectivity and reducing the amount of maintenance necessary. As a result, more and more of these networks are being used in the vehicle sector.
Industrial wireless sensor technology is becoming increasingly popular in the market since it enables organizations to remotely monitor and adjust a wide range of characteristics such as temperature, pressure, and vibration. Businesses can now increase their operational cost-effectiveness and efficiency thanks to wireless sensor technologies. Furthermore, it aids organizations in meeting their financial objectives by offering new solutions and services. These factors increase the demand for low-cost industrial automation systems, which benefits the growth of the market for wireless sensor networks.
Industrial Wireless Solution Market Segment Insights:
Industrial Wireless Solution Type Insights
The Industrial Wireless Solution Market segmentation, based on type includes wireless field instruments, mobile computing devices, and wireless network. The wireless network segment accounts for the majority of the market for industrial wireless solutions. This is because wireless networks are increasingly being used in industrial applications, which can assist to increase efficiency, productivity, and safety. Wireless networks can also help to reduce the cost and complexity of cable network installation and maintenance. Wi-Fi, Bluetooth, Zigbee, and cellular networks are examples of wireless network technologies that can be utilized for a variety of industrial applications such as remote monitoring, predictive maintenance, and asset tracking.
Industrial Wireless Solution Organization Size Insights
The Industrial Wireless Solution Market segmentation, based on Organization Size, includes large enterprise and SMEs. SMEs are the fastest growing category in the industrial wireless solution market. This is owing to the rising adoption of wireless technology by SMEs, who are searching for cost-effective solutions to boost their productivity and competitiveness. Wireless technologies can assist SMEs in streamlining their operations, reducing downtime, and improving customer service. Furthermore, the increased availability of low-cost, user-friendly wireless solutions makes it easier for SMEs to implement these technologies.
Figure1: Industrial Wireless Solution Market, by Organization Size, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industrial Wireless Solution Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Industrial Wireless Solution Market area will dominate this market, because of well-established industrial infrastructure and growing investments in technical breakthroughs. Many significant firms in this region are heavily investing in upgrading to cutting-edge technologies.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: Industrial Wireless Solution Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Industrial Wireless Solution Market accounts for the second-largest market share due to the increased deployment of wireless technologies across numerous businesses in the region. Further, the German Industrial Wireless Solution Market held the largest market share, and the UK Industrial Wireless Solution Market was the fastest growing market in the European region
The Asia-Pacific Industrial Wireless Solution Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because of strong industrialization and widespread adoption of cloud-based technologies. Moreover, China’s Industrial Wireless Solution Market held the largest market share, and the Indian Industrial Wireless Solution Market was the fastest growing market in the Asia-Pacific region.
Industrial Wireless Solution Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Industrial Wireless Solution Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Industrial Wireless Solution industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Industrial Wireless Solution industry to benefit clients and increase the market sector. In recent years, the Industrial Wireless Solution industry has offered some of the most significant advantages to medicine. Major players in the Industrial Wireless Solution Market, including Honeywell
International Inc (US), Siemens AG (Germany), Yokogawa Electric (Japan), AT&T (US), and Phoenix Contact GmbH & Co (Germany) DataGear Inc (US) and others, are attempting to increase market demand by investing in research and development operations.
Dell Technologies Inc. is a multinational technology corporation based in Round Rock, Texas. It was founded as a result of the combination of Dell and EMC Corporation (later renamed Dell EMC) in September 2016. Personal computers, servers, televisions, computer software, computer security and network security, as well as information security services, are among Dell's goods. Dell was rated 35th on the 2018 Fortune 500 list of the top firms in the United States by total revenue. In May 2020, Dell Technologies introduced Enterprise SONiC Distribution by Dell Technologies, a new set of open-source networking solutions that are fully maintained. As industries increasingly rely on new hybrid cloud models to conduct business, the previously monolithic and proprietary approach to networking has resulted in inefficiencies and unnecessary complexity. Dell Technologies is expanding on the work started by Microsoft Corporation as part of the open-source Software for Open Networking in the Cloud (SONiC) initiative.
The Hewlett Packard Enterprise Company (HPE) is an American global information technology corporation headquartered in Spring, Texas. HPE was created on November 1, 2015, in Palo Alto, California, as part of the Hewlett-Packard company's separation. It is a company that specializes in servers, storage, networking, containerization software, and consultancy and support. The separation was designed such that the previous Hewlett-Packard entity would be renamed HP Inc. and Hewlett Packard Enterprise would be spun off as a separate entity. In July 2019, HPE announced intentions to invest USD 500 million in India over the next five years, increase its employment by 20% over the next 3-5 years, and begin manufacturing in India by the end of 2019. Before the end of 2019, the business plans to launch Aruba's (a subsidiary of HPE) range of mobility and IoT solutions in India.
Key Companies in the Industrial Wireless Solution market include
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Eaton Corporation PLC (Ireland)
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Belden Inc (US)
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Honeywell International Inc (US)
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Yokogawa Electric (Japan)
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Phoenix Contact GmbH & Co (Germany)
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Cisco Systems Inc (US)
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ABB Limited (Switzerland)
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Emerson Electric Company (US)
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Siemens AG (Germany)
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AT&T (US)
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Oleum Tech (US)
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General Electric (US)
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Wipro Ltd (India)
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HMS Industrial Networks (Sweden)
Industrial Wireless Solution Industry Developments
April 2020, Cisco announced its intention to buy Fluidmesh Networks, a privately held developer of wireless backhaul systems. Fluidmesh will broaden Cisco's industrial wireless networking services to sectors with moving assets and applications that require reliable backhaul.
In November 2019, Nokia announced the launch of private wireless networks for over a hundred customers across several industries, where its industrial customers may benefit from Industry 4.0 innovations.
In January 2020, NXP Semiconductors N.V. has announced the release of a multi-gigabit Ethernet switch designed for automakers to enable the high-speed networks required for growing connected vehicles. The NXP SJA1110 is one of the first automotive Ethernet switches that provide built-in safety features such as integrated hardware-assisted security and multi-gigabit connections.
Industrial Wireless Solution Market Segmentation:
Industrial Wireless Solution Market By Type Outlook
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Wireless Field Instruments
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Mobile Computing Devices
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Wireless Network
Industrial Wireless Solution Market By Organization Size Outlook
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Large Enterprise
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SMEs
Industrial Wireless Solution Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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Report Scope:
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.9Billion |
| Market Size 2023 | USD 3.6Billion |
| Market Size 2032 | USD 21.6 Billion |
| Compound Annual Growth Rate (CAGR) | 25.00% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Organization Size, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Cisco Systems Inc (US), Eaton Corporation PLC (Ireland), ABB Limited (Switzerland), Belden Inc (US), Emerson Electric Company (US), Honeywell International Inc (US), Siemens AG (Germany), Yokogawa Electric (Japan), AT&T (US), and Phoenix Contact GmbH & Co (Germany) DataGear Inc (US), Ruckus Networks (US), Oleum Tech (US), Molex, LLC (US), General Electric (US), |
| Key Market Opportunities | Wireless gadgets are becoming more popular in sectors because they improve operational efficiency and allow for faster decision-making. |
| Key Market Dynamics | The growing shifts from on-premises to cloud-based services LoT services have been expanded. |
Frequently Asked Questions (FAQ) :
The Industrial Wireless Solution Market size was valued at USD 2.9Billion in 2022.
The global market is projected to grow at a CAGR of 25.00% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Honeywell International Inc (US), Siemens AG (Germany), Yokogawa Electric (Japan), AT&T (US), and Phoenix Contact GmbH & Co (Germany) DataGear Inc (US).
The wireless network category dominated the market in 2022.
The Small and medium-sized organizations (SMEs) had the largest share in the global market.
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