The new industrial WLAN market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Industrial WLAN Market 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the industrial WLAN market.
"One of the primary growth drivers for this market is the emergence of Industry 4.0," says a senior analyst for the industrials industry at Technavio. The vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the industrial WLAN market size to grow by USD 34.69 million during the period 2020-2024.
Industrial WLAN Market Segment Highlights for 2020
The industrial WLAN market is expected to post a year-over-year growth rate of 1.02%.
Based on technology, 802.11 ac constituted the largest technology segment in 2019. The use of less crowded 802.11 ac standard allows users to get reliable and accurate data on time, which is very much needed in mission-critical applications. The several advantages of 802.11ac are expected to drive the growth of this segment during the forecast period.
40% of the growth will originate from the North America region.
The presence of a large industrial base is one of the prime factors that will facilitate the industrial WLAN market growth in North America over the forecast period.
The US and Canada are the key markets for industrial WLAN in North America. Market growth in this region will be slower than the growth of the market in APAC.
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The industrial WLAN market size is expected to accelerate at a CAGR of almost 4% during the forecast period.
The industrial WLAN market is segmented by technology (802.11ac, 802.11n, and 802.11a/b/g), end-user (Water and wastewater, Power, Oil and Gas, Automotive, and Others), and geography (North America, Europe, APAC, MEA, and South America).
The market is fragmented due to the presence of many established vendors holding significant market share.
The research report offers information on several market vendors, including Belden Inc., Cisco Systems Inc., Dell Technologies Inc., Eaton Corporation Plc, Hewlett Packard Enterprise Co., Honeywell International Inc., Huawei Investment & Holding Co. Ltd., Nokia Corp., Schneider Electric SE, and Siemens AG
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