The global industrial wireless sensor networks market was valued at US$ 1,950.6 Mn in 2017 and is projected to register compound annual growth rate (CAGR) of over 12.3% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Industrial Wireless Sensor Networks Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” The report suggests that the better reliability and availability of industrial wireless sensor networks as compared to conventional industrial wired sensor networks is likely to spur the demand for industrial wireless sensor networks in the coming years (2018 to 2026).
As key players introduce new industrial wireless sensor networks technology and solutions in developed markets such as North America, Europe, and Asia Pacific, these regions are likely to account for dominating share of this market. Growing demand for industrial wireless sensor networks from the manufacturing sector in emerging markets such as China and India is likely to boost growth of the Asia Pacific industrial wireless sensor networks market at a growth rate of around 16.1% from 2018 to 2026.
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Based on type, the industrial wireless sensor networks market is segmented into Flow, Gas, Temperature, Pressure, and Others (Level, Humidity etc.). In 2026, others sub-segment is expected to hold more than one third of the total market and expand at a steady rate throughout the forecast period. Industrial wireless sensor networks not only improve efficiency but also reduce maintenance costs due to comparatively less wiring and connections than conventional wired sensors. In terms of technology, the market is segmented into Bluetooth, ZigBee, Wi-Fi, Near Field Communication (NFC), Cellular, and Others (wirelessHART, ISA 100.11a etc.).
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Primarily driven by battery efficiency, the ZigBee sub-segment is expected to hold a bulk share of the total market and grow at a rapid pace throughout the forecast period. On the basis of industry, the market is segmented into automotive, food & beverages, manufacturing, mining, oil & gas, and others.