Feb 14, 2020: The worldwide industrial wireless market is projected to exhibit a healthy CAGR during the forecast period. Wireless communication, or wireless, is the transfer of power or information between two or more points that are not associated with an electrical conductor. Growing necessity for automation in both - discrete and process industries along with the dropping prices of wireless sensors is further boosting the market. Surge in demand for robotic automation across several industry segments such as mining and chemical is expected to maximize efficiency, decrease error on the human part, and offer workers' security. However, lack of awareness regarding the wireless solution rising data and network security concerns offered by various vendors is likely to hamper the industrial wireless market growth in the forthcoming period.
The emerging trend in the market is rising advancements in communication technology. They will drive the market growth in the forecast period. The key companies in the wireless industry are competing strongly by offering new technologies such as 5G network and cloud computing. Another emerging trend in the market is the acceptance of wearable devices in process industries. The rising trend of wearable devices has made a key effect on industrial wireless. EMEA is one of the prominent regions and will continue to account for a large share in the market throughout the forthcoming period, owing to new and restructured facilities that are constantly getting incorporated, the presence of well-established players across the region, and increased acceptance of industrial wireless in the regions.
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In 2012, Belair Networks was acquired by Ericsson recently, which combined Belair’s technologies and solutions with its existing services and products, in order to increase revenue generation. Leading players operating in the industrial wireless market include Rockwell Automation, ABB, Cisco, Siemens, and Schneider Electric. The top companies are involved in mergers and partnerships, acquisitions, and joint ventures in order to increase the inorganic growth of the industry.
Firstly, the report provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Industrial Wireless market analysis is provided for the international market including development history, competitive landscape analysis, and major regions' development status.
Secondly, development policies and plans are discussed as well as manufacturing processes and cost structures. This report also states import/export, supply and consumption figures as well as cost, price, revenue and gross margin by regions (North America, Europe, Japan, India, China and The rest of the world), and other regions can be added.Then, the report focuses on global major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials, equipment and downstream consumers analysis is also carried out. What's more, the Industrial Wireless industry development trends and marketing channels are analyzed.
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In 2016, the world economy expanded by just 2.2 per cent, the slowest rate of growth since the Great Recession of 2009. Underpinning the sluggish global economy are the feeble pace of global investment, dwindling world trade growth, flagging productivity growth and high levels of debt. World gross product is forecast to expand by 2.7 per cent in 2017 and 2.9 per cent in 2018, with this modest recovery more an indication of economic stabilization than a signal of a robust and sustained revival of global demand. Given the close linkages between demand, investment, trade and productivity, the extended episode of weak global growth may prove self-perpetuating in the absence of concerted policy efforts to revive investment and foster a recovery in productivity. This would impede progress towards the Sustainable Development Goals (SDGs), particularly the goals of eradicating extreme poverty and creating decent work for all.
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