Published Date : Sep 12, 2016
Albany, NY, Sep 12, 2016: The versatility of wireless sensors in numerous applications will create new opportunities for the growth of the industrial wireless sensor network market, says a new report that has recently been added to the repository of MarketResearchReports.biz. According to the report, the global industrial wireless sensor network (IWSN) market is projected to exhibit a CAGR of 14.95% between 2016 and 2020. With industrial wireless sensor networks having moved beyond battlefields and into the commercial and industrial sector, new revenue streams have arisen for companies in this space. This factor, according to the report’s authors, will have an evident impact on the overall growth of the market.
The use of wireless sensors to capture and transmit data to a central network makes them a valuable asset in applications such as the monitoring of temperature, decibel levels, and pressure. The replacement of conventionally used wired sensors with more sensitive and versatile wireless sensors will drive the long-term growth of the global industrial wireless sensor network market, says the report.
However, at the global level, there is still a gap in the standards that govern the technologies incorporated in industrial wireless sensor networks. The result of this, naturally, will be that vendors face difficulties in selling products internationally. This factor is expected to stand in the way of the growth of the global industrial wireless sensor network market, the report states. However, with the proliferation of industrial wireless sensor networks the world over, it is expected that new standards will likely come into force in the coming years. This will, in turn, alleviate the impact of this market restraint.
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The trend of using wearable devices for monitoring and communication in the industrial sector is fast catching on. This, the report states, will create a fresh application area for the global industrial wireless sensor network market. However, this opportunity will also call a high degree of innovation and originality on part of sensor network vendors as the wearable tech industry is already characterized by a high degree of competition.
For a comprehensive assessment of the market for industrial wireless sensor networks, the report segments the global market into the following geographical segments: APAC, the Americas, RoW, and EMEA. The leading vendors studied in the report are: ABB, Linear Technologies, Honeywell Process Solutions, Schneider Electric, NXP Semiconductor, STMicroelectronics, Texas Instruments, Siemens, and Yokogawa Electric. The strengths and weaknesses of these leading vendors have been discussed in detail in the report. Moreover, the recent developments reported by leading players in the IWSN market have been covered, and analyzed further where necessary. The opportunities and threats that vendors in the market are currently faced with have also been studied in detail as part of this study.
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