Industrial Wireless Solution Market

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 2024-2032.

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.

The Global Industrial Wireless Solution Market Industry experiences a surge in demand for automation across various sectors, including manufacturing, oil and gas, and logistics. Automation enhances operational efficiency, reduces human error, and improves safety. As industries increasingly adopt smart technologies, the need for reliable wireless communication solutions becomes paramount. In 2024, the market is projected to reach 4.5 USD Billion, reflecting the growing reliance on automated systems. This trend is likely to continue, with the market expected to expand significantly as industries seek to integrate advanced wireless solutions into their operations.

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 2024 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.

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.