With the rising industrial development worldwide, the adjacent markets such as industrial automation and sensor networks too have witnessed paradigm shift over the period of time. Increasing competition across different industry verticals has forced the organizations to adopt advanced technologies that help enhancing the overall productivity and quality of products/processes. Industrial manufacturers are now more focused towards predictive maintenance so as to ensure minimal failure of equipment in its due life.
Wireless sensors network (WSN) comprises numerous small, cost-effective and low power consuming devices, called as nodes that operate by communicating with each other using a sophisticated sensor network. These nodes are deployed to collect information and can also be used to control various actuations. Over the period of time, wireless sensor networks have witnessed profound research and advancement including flexible installation in locations difficult to access, easy maintenance and low costs. This has made WSNs one of the most sought after technology across various fields ranging from agriculture, consumer goods to automation in industries.
WSNs include various sensor nodes used for monitoring temperature, pressure, humidity, vibration, flow and several others. Amongst these, wireless vibration sensor networks have witnessed profound significance, over the past several years, owing to their capability of reducing equipment downtime remarkably.
The report titled “Global Industrial Wireless Vibration Sensors Network Market- Growth, Future Prospects and Competitive Analysis, 2020 – 2028” offers strategic insights into the global wireless sensors network market along with the market size and estimates for the duration 2018 to 2028. The said research study covers in-depth analysis of multiple market segments based on communication technology, end-use industry and cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2019 & 2028. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities. In addition, the report covers a section providing analysis on the latest innovative solutions based on sensor technologies and industrial IoT.
In order to help strategic decision makers, the report also includes competitive profiling of the leading providers of wireless sensors network, market positioning and key developments. Some of the major players profiled in the report are ABB AS, National Instruments Corporation, SKF AB, Schaeffler Group, PRUFTECHNIK Dieter Busch AG, Evigia Systems, Inc., General Electric Company, I-Care Group, BeanAir, ETS Solutions Asia Pte Ltd., Preditec/IRM and Waites Wireless Sensor Technologies LLC.
Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global industrial wireless sensors network market, offering market size and estimates for the period from 2020 to 2028, keeping in mind the above mentioned factors.
The global industrial wireless vibration sensors network market is segmented, based on end-use industry, into following categories
In 2019, the manufacturing end-use industry segment was the largest contributor in the global industrial wireless vibration sensors network market, in terms of revenue. The manufacturing segment comprises a vast array of production plants manufacturing and producing various products such as textiles, electric and electronics, plastic products and other miscellaneous manufactured products. Factors such as high maturity of the manufacturing sector in the developed regions coupled with growing manufacturing sector in the emerging economies are expected to further drive the growth in this segment.
The automotive and food and beverages end-use segments are expected to witness the fastest growth during the forecast period. Factors such as revival of automotive industry in the developed regions and increasing production in the Asia Pacific region are expected to drive the demand for various condition monitoring systems in the automotive industry across the world. Thereby, the automotive industry is expected to witness significant growth during the forecast period from 2020 to 2028.
In 2019, North America dominated the overall industrial wireless vibration sensors network market across the world. The segment contributed to more than one third of the total revenue generated globally in 2019. Europe followed North America in the overall industrial wireless vibration sensors network market in terms of revenue. Both the regions have gained dominance in the overall industrial wireless vibration sensors network market globally due to presence of highly developed and matured manufacturing industries. In addition, strict government regulations and norms towards various energy intensive industries in the region have further compelled the adoption of sensor networks in various end-use industries.
Asia Pacific followed North America and Europe, in terms of revenue, in the global industrial wireless vibration sensors network market. With continued industrialization in the region, the Asia Pacific industrial wireless vibration sensors network market is expected to witness the fastest growth during the forecast period. In addition, growing automotive and manufacturing industries especially in countries including China, Indonesia and India are further expected to propel the growth in the Asia Pacific industrial wireless vibration sensors network market.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Industrial Wireless Vibration Sensors Network market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Communication Technology
| |
End-use
| |
|
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report
