World News: 11:00 GMT Tuesday 14th January 2020. [Technavio Research via Businesswire via SPi World News]
Technavio has been monitoring the global industrial wireless automation market since 2014 and the market is poised to grow by USD 2.01 billion during 2019-2023, progressing at a CAGR of almost 7% during the forecast period.
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Technavio has announced its latest market research report titled global industrial wireless automation market 2019-2023. (Graphic: Business Wire)
Read the 164-page research report with TOC on "Industrial Wireless Automation Market Analysis Report by Solution (Field instrument and Communication network), by End-users (Process industry and Discrete industry), by Geography (APAC, Europe, MEA, North America, and South America) and Segment Forecasts, 2019 - 2023".
The rising use of machine-to-machine (M2M) services across industries and advent of 5G – URLLC technology are factors anticipated to boost the growth of the market.
M2M communications are gaining traction across the end-user industries for managing several facets of business due to its ubiquitous connectivity and pervasive accessibility at low cost. The deployment of M2M services is made possible through advances in wireless solutions. M2M communication reduces costs by minimizing equipment maintenance and downtime, improves customer service, and boosts revenue. Industries and government authorities across regions are supporting the technology due to such benefits associated with M2M services. This is encouraging new installations of wireless automation solutions in the industrial sector. Thus, the rising use of M2M services across industries is expected to drive market growth during the forecast period.
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Major Five Industrial Wireless Automation Market Companies:
ABB is headquartered in Switzerland and operates the business under various segments such as Electrification Products, Robotics and Motion, Industrial Automation, and Power Grids. The company offers WirelessHART instrumentation solutions.
Cisco Systems, Inc.
Cisco Systems, Inc. is headquartered in the US and offers products through the following business units: Infrastructure Platforms, Applications, Security, Other Products, and Services. The company offers Cisco Connected Factory Wireless solutions.
Emerson Electric Co.
Emerson Electric Co. is headquartered in the US and operates under various business segments, namely Automation Solutions and Commercial and Residential Solutions. The company offers Wireless Sensors & instruments, Wireless Plant Network Solutions, and Wireless Infrastructure.
Honeywell International Inc.
Honeywell International Inc. is headquartered in the US and offers products through the following business segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers SmartLine Wireless Pressure Transmitter and OneWireless Network.
Rockwell Automation, Inc.
Rockwell Automation, Inc. is headquartered in the US and offers products through the following business segments: Architecture & Software and Control Products & Solutions. The company offers HART Communication Protocol and SMART SENSORS.
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Industrial Wireless Automation End-users Outlook (Revenue, USD Million, 2019 - 2023)
Industrial Wireless Automation Regional Outlook (Revenue, USD Million, 2019 - 2023)
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Business Wire: 11:00 GMT Tuesday 14th January 2020
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