The industrial wireless solution market is increasing rapidly owing to large consumption of industrial products that are wireless accessed .High investments in advanced wireless technologies by manufacturers and government is another factor that is boosting the growth of this market. The market is expected to grow at an impressive rate owing to the incorporation of advanced technologies such as Internet of Things (IoT) and cloud computing in the industrial wireless solution so as to maximize the productivity, to reduce human error and to improve the system infrastructure. However, rising cases of security breach in wireless network solutions despite strict regulations will restrain the growth of industrial wireless market.
Region-wise, Asia Pacific is growing at an impressive rate owing to the industries increasingly moving to digitize their infrastructure as to implement Industry 4.0 and burgeoning investments taking place with respect to advanced wireless technologies such as 5G, and Long Term Evolution (LTE).
INCORPORATION OF CLOUD COMPUTING AND BIG DATA IN INDUSTRIAL WIRELESS
Wireless technologies combined with advanced computing such as cloud computing are changing industrial communication. Cloud Computing is being discussed as a technology beneficial for industrial sector. It is just one of the components for big data implementation in industrial processes and facilities. It can process, filter, and analyze data using human-machine interface (HMI) that can then be turned into actionable information for industrial facilities. The central business benefit to cloud computing is that the business of any size can now have access to an enterprise- class wireless solution that will not burden the IT staff or IT budget. The scope of cloud computing is bright in upcoming years as it provides a plug-n-play deployment model for remote sites and remote employees where IT staff resources are limited or nonexistent. we have covered all segment of this market in our market research report.
SOLUTIONS MARKET FORECAST BY ENTERPRISE SIZE
By enterprise size, the industrial wireless solution market has been segmented as small, medium and large enterprise. With changing business processes over the years due to the evolution of technology and changing customer expectations, wireless technology has become a crucial component of today’s workspace. Advances in wireless technology have provided a variety of opportunities for businesses to extend their sales channels and expand more revenue. Now, a greater number of small and medium sized businesses are embracing wireless technology. This surge in modernization is being fed by the increasing affordability of today’s computer hardware, mobile devices and cloud-based services. Small and midsize businesses utilize WiFi technology to conduct their daily operations. However, large enterprises deploy wireless Ethernet technology that consists of a broad spectrum of Ethernet solutions than can be custom coded and protected for sensitive data. High security and reliability of wireless Ethernet makes it the best solution for industrial IoT connections.
INDUSTRIAL WIRELESS SOLUTIONS MARKET FORECAST BY INDUSTRY
By industry, the industrial wireless solution market has been segmented as Manufacturing, Automotive, Aerospace & Defense, Oil and Gas, Mining and others. Others include Retail, Healthcare, Tourism and Hospitality industry. With wireless technology being ubiquitous in industrial sector, many industries such as Manufacturing, Automotive, Oil & Gas and Pharmaceutical are utilizing industrial wireless to the next level by incorporating advanced technology such as Internet of Things (IoT) and other advanced wireless technology standards (802.11 a/b/g) to increase their productivity and enhance the efficiency of their communication infrastructure.
The manufacturing industrial wireless market is projected to grow at a CAGR of X. XX%, rising from US$XX.XX billion in 2017 to US$XX.XX billion in 2023. Wireless communication is a key enabling technology for the implementation of advanced manufacturing systems. Factory operators aim to improve visibility and control of their operations in ways that previously were too cost-prohibitive to realize with wires. The industrial wireless technology is ubiquitous in this industry as it has created enormous potential for manufacturers by increasing the monitoring and control surface of their physical processes, reducing installation and maintenance costs, expanding the business agility of their technical operations. This has paved path for industrial Internet of Things (IIoT) which has further enhanced the infrastructure of the manufacturing sector. As a result, many manufacturers are moving to IoT solutions. Various surveys have confirmed that approximately 80% of surveyed manufacturers have either moved to IoT or are planning to deploy it within few years.
Industrial IoT not only connects industrial equipment onto the network, enabling information gathering and management of these devices via software to increase efficiency, enable new services but also achieve other health, safety or environmental benefits. This inevitable influx of data that manufacturers will have access to will open big doors for this sector. The range of new tech solutions on plant floor, along with the wealth of data from connected devices, sensors and real-time analytics, will bring a heightened level of connectivity and efficiency to manufacturing. However, the challenge will be how to seamlessly incorporate device management into the overall manufacturing structure in a way that makes sense, is secure and manageable.
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