Industrial Wireless Automation Market Size, Share, Growth, And Industry Analysis, By Type (Process Industry & Discrete Industry), By Application (Petrochemical, Water and Wastewater, Oil and Gas, Energy, & Others), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

Report Overview

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The global industrial wireless automation market size was valued at USD 6671.5 million in 2021. As per our research, the market is expected to reach USD 9054.2 million by 2028, exhibiting a CAGR expansion of 4.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the industrial wireless automation market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Industrial wireless automation refers to the use of wireless communication technologies to automate various processes and control systems in industrial settings. This approach offers several advantages over traditional wired systems, including increased flexibility, scalability, and cost-effectiveness. Wireless networks in industrial settings must be properly secured to prevent unauthorized access and potential cyber threats. Encryption, authentication, and access control mechanisms are essential.

Wireless networks in industrial settings must be properly secured to prevent unauthorized access and potential cyber threats. Encryption, authentication, and access control mechanisms are essential. Artificial intelligence (AI) and machine learning are increasingly being integrated into industrial wireless systems to enable predictive maintenance and process optimization. Continued advancements in wireless communication protocols and the development of interoperable standards will likely drive market growth.

COVID-19 Impact: Workforce Disruptions During the Pandemic Brought Downfall of the Market

There were several industries affected by COVID-19. The industrial wireless automation market was affected as well. Lockdowns and social distancing measures forced many industrial facilities to reduce their on-site workforce or implement remote working. This increased the demand for remote monitoring and control solutions, driving interest in the market.

Latest Trends

"Introduction of Customized Solutions to Provide Better Experience to Propel the Market "

The industrial wireless automation market is as dynamic as any market. In the market, developments keep taking place to cater the demands of the consumers. Recently, these wireless service providers were offering more customized solutions tailored to specific industry needs. This trend allowed companies to implement automation systems that align closely with their unique requirements.

Segmentation

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• By Type

Based on the type, the market is segmented into process Industry & discrete Industry. 

 In terms of services, process industry is the largest segment, as it holds majority shares of the market.

•  By Application

Based on application, the market is classified into petrochemical, water and wastewater, oil and gas, energy, & others.

Driving Factors

"Industry 4.0 and Digital Transformation have to Increase the Market Demand"

The adoption of Industry 4.0 principles, which emphasize the integration of digital technologies into industrial processes, has been a major driving force. Companies have been investing in wireless automation to create smart factories and improve overall operational efficiency. Advances in wireless communication technologies, such as the rollout of 5G networks, have provided faster, more reliable, and lower-latency connectivity, making the service more attractive and feasible for a wider range of applications.

"Efficiency and Productivity Benefits to Influence the Market Demand"

This market helps in improving operational efficiency and productivity by enabling faster data collection, analysis, and decision-making. This leads to reduced downtime, optimized processes, and higher production output. The market can contribute to energy efficiency initiatives by enabling better control and optimization of energy-consuming equipment and processes.  In a globalized market, companies seek ways to improve their competitiveness. Wireless automation can enhance efficiency and agility, enabling businesses to respond more quickly to market changes and customer demands. This contributes to the industrial wireless automation market growth.  

Restraining Factor

"Security Concerns Could Lead to a Declining Trend in the Market "

Security remains a major concern in this wireless automation market. Wireless networks are vulnerable to cyberattacks, and ensuring the security of these networks and devices is a top priority. Any breaches can have severe consequences, including production disruptions and data theft. As a consequence, there can be a declining trend in the market. 

Regional Insights

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"North America Region Dominates the Market Owing to Advanced Manufacturing Technology"

North America holds the largest industrial wireless automation market share as it has a well-developed technological infrastructure, including a robust telecommunications network and extensive coverage of wireless communication technologies. This infrastructure provides a strong foundation for the adoption of the service. North America is home to a diverse range of industries, including manufacturing, energy, oil and gas, pharmaceuticals, and more. These industries have a substantial need for automation and have the financial resources to invest in advanced technologies. North American industries have been relatively early adopters of Industry 4.0 principles and digital transformation. This proactive approach to modernizing industrial processes has driven the adoption of wireless automation technologies. The need for reliable and efficient infrastructure in North America, including utilities, transportation, and telecommunications, drives the adoption of automation solutions. Wireless automation can play a critical role in optimizing and maintaining these infrastructures.

Key Industry Players

"Key Players Focus On Research & Development Assuring Quality Product leading to Increase in the Market Demand"

These companies invest heavily in R&D to create innovative wireless automation technologies and products. They work on developing new wireless communication protocols, sensors, actuators, and control systems that are reliable, secure, and efficient for industrial applications. Key industry players often form partnerships with other companies in the industrial automation ecosystem, including software providers, system integrators, and end-users, to create comprehensive and integrated solutions. They conduct rigorous testing and quality assurance procedures to ensure that their wireless automation products and solutions meet industry standards and regulatory requirements. To stay competitive, these companies are dedicated to continuous improvement. They gather feedback from customers and monitor emerging technologies to enhance their products and services continually. They actively promote the adoption of industrial wireless automation through marketing campaigns, participation in industry events, and advocacy for the benefits of wireless technologies, such as increased efficiency, reduced downtime, and improved safety.

List of Market Players Profile

• Siemens(Europe)
• Honeywell International(U.S.)
• Rockwell Automation(U.S.)
• ABB(Europe)
• Cisco Systems(U.S.)

Report Coverage

The report brings together extensive research on the qualitative and quantitative factors affecting the market. It gives an overall macro and micro view of the online reputation service industry. This research profiles a report with extensive studies on the online reputation management services market that describe the firms affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc.

Furthermore, the post-COVID-19 pandemic’s effect on international market restrictions and a deep understanding of how the industry will recover and strategies are also stated in the report. Finally, the competitive landscape has also been examined in detail to provide clarification of the competitive landscape.