Comprehensive Report on Global Industrial Wireless Solution Market by Knowledge Sourcing Intelligence
The industrial wireless solution market was valued at US$XX.XX billion in 2017 and is projected to expand at a CAGR of XX.XX% over the forecast period to reach US$XX.XX billion by 2023. Wireless network solution is gaining traction owing to the rising installation of wireless infrastructure across industries such as automotive, manufacturing, Oil & Gas and etc.
Wireless industrial network is the next step that many companies are adopting as it is a practical solution to all the wiring hassle and it enhances the flexibility in work and provability of devices. Rising demand for automation and cost effective wireless solution in both process and discrete industries is driving the industrial wireless market growth.
Rising Adoption of Wireless Solutions Across Industries:
Companies require a network to communicate and share data with as much efficiency as their systems can provide. Wireless solutions are increasingly being utilized in a number of industries such as automotive, manufacturing, mining and etc. as it provides a cost-effective way for an organization to enhance the flexibility and efficiency of their infrastructure. Growing propensity towards wireless solution is attributed to the hassle-free installation, more coverage, low maintenance requirement, easy addition of new devices to the network and reliable transfer of data from one place to another. Growing demand for increasingly efficient and convenient wireless solutions is driving the industrial wireless market’s growth. Industrial Wireless has given manufacturers the digital technology to access essential data to make better decisions and improve operational performance. In Automotive sector, growing preference of customers to have infotainment in vehicles is the key driving factor that is boosting the demand for wireless solutions. For an instance, HMS Industrial Networks provides Anybus multi- network connectivity solution for the automotive industry that enables one to easily interconnect different networks and protocol standards and connect non-network devices to the systems.we have covered all segment of this market in our market research report.
Industrial Wireless Solution Market By Geography :
By geography, the industrial wireless solution market has been segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Furthermore, country level analysis is provided within the regions. In North America, rising adoption of advanced wireless solutions across major industries such as manufacturing is boosting the demand for industrial wireless. In South America, increasing investments in advanced wireless solutions such as 4G Long Term Evolution (LTE) and 5G by the companies is fueling the demand for advanced wireless solutions in industries. On October 2016, IFC, a member of the World Bank Group, provided a $400 million 6-year financing package for Telecom Personal S.A, a leading Argentine wireless company, to expand its 4G Long Term Evolution (LTE) broadband network. In Europe, the growing need for advanced wireless solutions by automotive and healthcare industry is driving the market’s growth. According to Arun Bansal, the vendor’s head of Market Area Europe and Latin America, Ericsson expects to see the initial commercial deployment of 5G technology in Europe by 2018 or 2019. In Asia Pacific, the industrial wireless market is expected to grow at an impressive rate owing to the blooming industrial IoT technology. Though industrial manufacturers are somewhat slow in their adoption of cloud-based services and connecting their legacy systems to digital networks, the vision for vast IoT market is finally starting to take shape.
The Europe industrial wireless solutions market is projected to grow at a CAGR of X. XX%, rising from US$XX.XX billion in 2017 to US$XX.XX billion in 2023. The region is further segmented as UK, Germany, France, Italy, Spain and Others. Rising adoption of Industry 4.0 across European industries is driving the demand of wireless solutions. Burgeoning investments in latest wireless technologies and favorable government initiatives and policies is further boosting the adoption of industrial Internet of Things (IIoT) or Industry 4.0 in the EU industries. UK and Germany are growing at a fast pace with respect to the adoption and investments in advanced wireless solutions. The European Union has prioritized National
14.0 policy across Europe which is the major driving factor that have pushed EU industries to upgrade their existing infrastructure by adopting digitalization and automation. With surging IoT and cyber- physical systems, the threat of malware attack is also increasing. In response to this, the EU has revamp their data protection policy to GDPR (General Data Protection Regulation) which gives people more control over their personal data. Therefore, companies providing advanced wireless solutions have to be careful while dealing with sensitive data.
UK industrial wireless solutions market is anticipated to grow at a CAGR of XX% during the forecast period, reaching a total market size of US$XX billion in 2023 from US$XX billion in 2017. The U.K. is one of the largest information communication technology (ICT) markets. Increasing investments in this sector and favorable government policies and initiatives are driving the growth of industrial wireless solutions in the country. Theresa May is set to launch the government’s “Modern Industrial Strategy” in January 2017. As part of the strategy, the government is putting cutting edge technologies such as 5G wireless, “smart” energy technology to upgrade the standards of performance on digital, energy, transport and defense infrastructure.
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