Research Report: Industrial Wireless Automation Market (2020-2024) | Adoption of High-speed Communication Network Solutions to Boost the Market Growth | Technavio
LONDON–(BUSINESS WIRE)–Technavio has been monitoring the industrial wireless automation market and it is poised to
LONDON–(BUSINESS WIRE)–Technavio has been monitoring the industrial wireless automation market and it is poised to grow by $ 2.03 bn during 2020-2024, progressing at a CAGR of almost 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
What are the major trends in the market?
Increasing focus on predictive maintenance is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 5.87% and the incremental growth of the market is anticipated to be $ 2.03 bn.
Who are the top players in the market?
ABB Ltd., Cisco Systems Inc., Emerson Electric Co., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp., are some of the major market participants.
What is the key market driver?
The adoption of high-speed communication network solutions is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute 45% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Cisco Systems Inc., Emerson Electric Co., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. are some of the major market participants. The adoption of high-speed communication network solutions will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Industrial Wireless Automation Market 2020-2024: Segmentation
Industrial Wireless Automation Market is segmented as below:
- Field Instrument
- Communication Network
- Process Industry
- Discrete Industry
- North America
- South America
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Industrial Wireless Automation Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The industrial wireless automation market report covers the following areas:
- Industrial Wireless Automation Market Size
- Industrial Wireless Automation Market Trends
- Industrial Wireless Automation Market Industry Analysis
This study identifies the increasing focus on predictive maintenance as one of the prime reasons driving the industrial wireless automation market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Industrial Wireless Automation Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist industrial wireless automation market growth during the next five years
- Estimation of the industrial wireless automation market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the industrial wireless automation market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of industrial wireless automation market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End user placement
- Process industry – Market size and forecast 2019-2024
- Discrete industry – Market size and forecast 2019-2024
- Market opportunity by End user
Market Segmentation by Solution
- Market segments
- Comparison by Solution placement
- Field instrument – Market size and forecast 2019-2024
- Communication network – Market size and forecast 2019-2024
- Market opportunity by Solution
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher-priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- Cisco Systems Inc.
- Emerson Electric Co.
- General Electric Co.
- Honeywell International Inc.
- Mitsubishi Electric Corp.
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Yokogawa Electric Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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