PORTLAND, Oregon and PUNE, India, February 9, 2018 /PRNewswire/ --
According to a recent report published by Allied Market Research, titled, "Industrial Wireless Sensor Network Market by Sensor, Technology, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global industrial wireless sensor network market was valued at $573 million in 2016, and is projected to reach at $1,200 million by 2023, growing at a CAGR of 11.0% from 2017 to 2023.
Presently, North America dominates the industrial wireless sensor network market. However, China is expected to register the highest growth in Asia-Pacific by 2023. Moreover, the UK is anticipated led the overall market in the European region in 2023. Presently, the U.S. dominates the North American market.
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Surge in popularity of industrial wireless sensor technology has driven the market growth. Furthermore, low cost and easy deployment of industrial wireless sensor network fuel the growth of the market. However, data security and privacy concerns are expected restrain the growth of the market.
In 2016, the Wi-Fi segment dominated the global industrial wireless sensor network market, in terms of revenue. However, based on sensor type, others sensor segment led the global market, followed by flow sensor in 2016.
KEY FINDINGS OF THE STUDY
- Oil & gas generated the highest revenue in 2016.
- In 2016, the Wi-Fi segment accounted for the highest revenue in the industrial wireless sensor network.
- Asia-Pacific is anticipated to exhibit the highest revenue in 2023.
The key players profiled in the report include ABB Ltd., STMicroelectronics, Honeywell International Inc., Texas Instruments, Inc., Siemens AG, Endress+Hauser AG, Linear Technology Corporation, NXP Semiconductors, Schneider Electric, and Emersion Electric.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research