Industrial Wireless Sensor Network Market by Sensor type (Temperature Sensors, Sound Sensors, Pressure Sensors, Humidity Sensors, Level Sensors, Flow Sensors)
Industry: IT and Telecommunication
Published Date: March-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 170
Report ID: PMRREP18298
The Industrial Wireless Sensor Network Market was anticipated to have held the market share of US$ 5,250.0 Million in 2022, and is estimated to reach US$ 5,565.5 Million in 2023. The market is projected to grow at a CAGR of 7.6% over the forecast period 2023 to 2033 and would reach a market value of US$ 11,613.5 Million by 2033.
Industrial wireless sensor network refers to a network of sensors distributed across an industrial area that are connected to each other, can transfer data among each other and are placed for the detection of various metrics important for numerous industrial functions such as temperature, pressure, humidity and so on.
These sensors later transfer their readings to a central unit, that may be human controlled or automated, this system will understand what is the status of the various functions and areas of the industry and take the necessary actions.
The factor that has allowed the demand for industrial wireless networks to be widely implemented across industries is the technological development that has occurred in this technology, the industrial wireless sensor networks are power and cost efficient because of the developments and now have a wider set of applications across industries. The use of industrial wireless sensors also allows the development and implementation of various industrial internet of things (IIoT) solutions.
The market for industrial wireless sensor network accounts for 26% of the industrial wireless technology market.
North America will account for 29.4% of the global market in 2022, according to geographical market projections. This was estimated to be followed by East Asia that held a market share of 24.3% for the industrial wireless sensor market in 2022.
|
Industrial Wireless Sensor Network Market Size (2023) |
US$ 5,565.5 million |
|
Projected Market Value (2033) |
US$ 11,613.5 million |
|
Global Market Growth Rate (2023 to 2033) |
7.6% |
|
Non-isolated segment Market Share (2022) |
56.3% |
|
Indian Market Growth Rate (2023 to 2033) |
11.3% |
|
IT and Telecommunication Segment Market Share (2022) |
21.3% |
“Growth in the Implementation of Industry 4.0 and IoT Technologies Over the Forecast Period”
Industrial wireless sensor networks are a primary building block for various IoT services that are deployed in industries and are a necessary prerequisite for various monitoring and transmission services and solutions required for carrying out industrial operations.
Initially these wireless sensor networks were adopted because of their ease in deployment and less costs involved compared to wired sensor networks, however today they can act as a major foundation for establishing industry 4.0 technologies across various different industries.
Implementation of industry 4.0 technologies is a major shift that countries and companies are striving towards, this development can help boost the market for industrial wireless sensor network market.
“Large Oil, Gas and Arms Production Allows United States to Dominate the Industrial Wireless Sensor Network Market”
United States has a large oil and gas production industry that leverages the industrial wireless sensor network for establishing numerous wireless solutions. The country also has a large food and beverages production industry because of the various food products consumed by the people in this country and the large population that supports the demand.
The country has a large market for firearms, that does not exist at the same level in numerous other countries allowing the arms manufacturing industries to be a strong market for industrial wireless sensor network, the ongoing Russia-Ukraine war has also boosted the supply of weapons to Ukraine from United States, giving this vertical a strong boost and allowed it to grow over the year for the industrial wireless sensor network market.
For these reasons, United States held the largest market share of 18.3% in 2022 for the industrial wireless sensor network market.
“Growing Investments in Manufacturing Driving Indian Market for Industrial Wireless Sensor Networks”
Various government initiatives and private investments are taking place in India to boost the manufacturing industry in this country. Having a large quantity of cheap labor and manufacturing prices, can make India a potential manufacturing hub.
Progress in 5G network rollouts have encouraged various electronics and telecom companies to provide the devices necessary for 5G network connection across industries, this can help in the growth of adoption in industrial wireless sensor network market in India.
These factors enable India's market to grow at a CAGR of 11.3% during the predicted period.
“Large Electronics Manufacturing Industry in China Drives Demand for Industrial Wireless Sensor Networks”
China at present is one of the largest manufacturing hub for various electronic components and devices, that are exported globally in large amounts. One of the electronic devices that are manufactured and exported are smartphone devices and accessories.
Consumers are often drawn towards replacing their smartphones whenever a better and updated version or model is introduced in the market, this consumerism drives the demand for smartphones further and being an important device that a majority of the people across the globe use, the industrial wireless sensor network market can witness strong growth due to the electronics manufacturing industry in China.
Why Energy & Mining Industry Can Produce Various Opportunities for the Industrial Wireless Sensor Network Market?
Due to the impact of fossil fuels upon global warming and climate change, several countries across the world are taking measures to cut down on their carbon emissions. One of the ways to achieve this is by developing alternative sources of energy such as wind and solar energy.
Several countries are establishing wind farms and solar farms, creating a demand for industrial wireless sensor networks in these places to monitor to processes that occur on a regular basis, the growth in these energy sources is estimated to boost the market for industrial wireless sensor network market, in the energy and mining industry.
Hence, this market is estimated to grow at a CAGR of 9.4% over the forecast period.
Why is Process Monitoring the Most Widely Used Application for Industrial Wireless Sensor Network Market?
Monitoring the various processes and functions that occur within an industry is a major function accomplished by industrial wireless sensor networks. Various metrics such as air pressure, temperature, humidity, vibrations need to be monitored across the premises to ensure that the work is occurring efficiently across the industry.
Due to this reason, the market share for process monitoring was estimated to have held the largest market share of 26.5% in 2022.
The manufacturers of industrial wireless sensor networks focus on technological developments and cost efficiency in order to reach out to a wider market, they also focus on manufacturing equipment that can be used by industries from various verticals. Developing tools and equipment for smart factories and IIoT is another factor that manufacturers tend to focus on.
Recent developments related to key players providing industrial wireless sensor network market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
|
Attribute |
Details |
|
Forecast Period |
2023 to 2033 |
|
Historical Data Available for |
2018 to 2022 |
|
Market Analysis |
US$ Million for Value |
|
Key Regions Covered |
|
|
Key Countries Covered |
|
|
Key Market Segments Covered |
|
|
Key Companies Profiled |
|
|
Pricing |
Available upon Request |
By Sensors Type:
By End-Use Industry Type:
By Application Type:
By Technology Type:
By Region:
To know more about delivery timeline for this report Contact Sales
In 2023, the market value of industrial wireless sensor network was US$ 5,565.5 Mn.
The global industrial wireless sensor network market is estimated to advance at a 7.6% CAGR through 2033.
The market for industrial wireless sensor network is forecasted to climb to US$ 11,613.5 Mn by 2033 end.
Demand for industrial wireless sensor network market in India is projected to rise at a CAGR of 11.3% for 2023-2033.
In 2022, the North America industrial wireless sensor network market held a dominant market share of 29.4%.
