According to a new market research
report published by Credence Research “Industrial Wireless Vibration Sensors Network Market
(By End-use Industry – Manufacturing; Oil and Gas; Automotive; Metals and
Mining; Water and Wastewater; Food and Beverages; Chemicals and Others) –
Growth, Future Prospects, Competitive Analysis and Forecast 2016 – 2024”, the
global industrial wireless vibration sensors network market stood at US$ 903.2
Mn in 2015 and is estimated to expand with a CAGR of 5.4% from 2016 to 2024.
The complete report is available at http://www.credenceresearch.com/report/industrial-wireless-vibration-sensors-network-market
Market Insights
The industrial wireless vibration
sensors network market has been primarily driven by increasing need to monitor
and assess machine condition in order to avoid major downtimes and loss of
production time. With technological advancements in sensor technology and rise
of effective wireless communication protocols suitable for the industrial
applications have led to the rise of various condition monitoring systems based
on various types of sensors such as vibration, temperature, pressure, and
humidity, among others. The vibration sensors have gained immense popularity in
the manufacturing and processing related applications on account of its higher
accuracy and effectiveness. In addition, increasing adoption of communication
protocols such as WirelessHART and ISA 100.11a has further enabled the adoption
of industrial wireless vibration sensors network into various manufacturing and
processing units.
Some of the major factors driving
the growth in the industrial wireless vibration sensors network market is the
increasing need to ensure operations continuity and avoid machine downtime.
With the use of sensors networks, plant operators can quickly and precisely
identify any particular point of error and rectify the issue before resulting
into machine failure. Thereby, the use of industrial wireless vibration sensors
network helps plant owners to avoid huge losses associated with machine
downtime. Furthermore, by assessing vibration readings of various components
within the machinery, the plant operators can continuously monitor the machines
condition and predict the requirement of any appropriate maintenance services.
Thereby, the overall industrial wireless vibration sensors network market is
expected to witness significant growth during the forecast period.
Competitive Insights:
The global industrial wireless
vibration sensors network market is fragmented with top four manufacturers
accounting for less than 45% of the market revenue. The global market is
characterized by the presence of large number of players, across the entire
wireless sensor network value chain. The increase in the number of
manufacturers/suppliers, distributors, and service providers has ensured a
highly competitive market. The global industrial wireless vibration sensors
network market is characterized by the presence of large number of players with
diversified businesses who are struggling to gain meaningful differentiation.
Thus, new product development, product innovation, and developing easy-to use,
energy-efficient, and technology advanced IWSNs are some of the requisite
market strategies adopted by the manufacturers in the market
Business expansion through strategic
alliance and acquisitions is another important strategy adopted by the leading
players in this market. A dominant trend of market moving towards consolidation
can be witnessed as small players are merging operations with well-established
players to leverage their resources. In a relatively matured and slow growing
market, manufacturers are focusing on offering application specific wireless
vibration sensors network solutions in order to strengthen their position in
the market. Considering that major portion of sales come through indirect sales
channel, an established distribution network is a necessity and manufacturers
across the globe are focusing on strengthening their marketing and distribution
channels to improve their product penetration and position in the market. A
trend of international manufacturers forming alliance with local players to
expand its geographical footprint can be seen in the market. For instance,
BeanAir has recently announced that it has signed an agreement with Ambetronics
with an aim of promoting and distributing its wireless sensor network solutions
for condition monitoring applications in the Indian market.
Key Trends:
- Market moving towards consolidation through various mergers and acquisitions
- High growth rate in the automobile, food and beverages industry
- Continued adoption in the manufacturing industry
About
Credence Research:
Credence Research is a worldwide market
research and counseling firm that serves driving organizations, governments,
non legislative associations, and not-for-benefits. We offer our customers some
assistance with making enduring enhancements to their execution and understand
their most imperative objectives. Over almost a century, we’ve manufactured a
firm extraordinarily prepared to this task.
Media Contact
Company Name: Credence Research
Contact Person: Chris Smith,
Designation: Global Sales Manager
Phone: +1-800-361-8290 FREE
Address: 105 N 1st ST #429, SAN JOSE,
CA 95103
E-mail: sales@credenceresearch.com
No comments:
Post a Comment