Industrial Wireless Solution Market
The industrial wireless solution market was valued at USD 2.55 billion in 2017and is expected to reach a CAGR of 25.0% and value USD 9.35 billion in the forecast period. The use of the industrial wireless solution is required in several sectors for the easy run of the systems. The wireless solution plays a major role in developing radio frequencies and other connected devices. The industrial wireless solution market has several advantages, such as easy maintenance, monitoring, and controlling other devices. Many industries rapidly replace wireless sensors with wired sensors due to their easy usability. Due to the increasing demand for using smartphones and bringing your own devices in several sectors due to pandemic increases the use of wireless solutions in industries. The adaption of wireless devices is increasing in industries as it provides higher operational efficiency and less infrastructure cost. The shift from enterprises to cloud-based services increases the use of the industrial wireless solution market. Due to lockdown improvement in several countries, the growing internet use fuels the market's growth. The COVID 19 less affected the industrial wireless solution market. The increased demand for SDWAN solutions in several companies propels the market growth of the industrial wireless solution market. The growing concern for data security and connectivity issues in the wireless network hinders growth. The wireless connectivity conserves a high amount of power, and the lack of globally accepted wireless standards creates a challenge for the market's growth. Many prominent market players also contribute to the market's growth to increase the market value of the industrial wireless solution market. Increased demand for robotic automation among several industries fuels the demand of the industrial wireless solution market over the forecast period.
the segment type is separated into wireless field instruments, wireless networks, and mobile computing devices. The industrial wireless solution market is segmented into type, vertical, and organization size. The market is segmented into small and medium-sized enterprises and large enterprises based on organization size. Each segment is expected to improve the industrial wireless solution market share. The industrial wireless solution market is bifurcated into the process and discrete industries based on the segment vertical. The process industry comprises energy and utilities, food and beverages, chemicals, and others. The discrete industry is divided into automotive, semiconductors and electronics, medical devices, and transportation.
The regional analysis of the industrial wireless solution market is studied for North America, Asia Pacific, Europe, Latin America, the middle east, and Africa. The presence of prominent network service providers and wireless solution providers in the North American region and the presence of major IT and telecom vendors of the world, and the improvement of new technologies such and AI and others with wireless networks in the region improve the market share of the region. Countries like China, Japan, and India are improving in adopting advanced technologies, improving the Asia Pacific region's industrial wireless solution market.
Foxconn interconnects technology/FIT and Hudson sustainable group invest in wireless power leader, Powermat technologies and forms a strategic partnership.
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