The global industrial 2.4 GHz wireless technologies market is predicted to grow from USD 79.63 billion in 2024 to USD 162.9 billion by 2029, growing at a 15.4% CAGR from 2024 to 2029.
Industries across the world are adopting wireless networks to monitor various processes and operations. Wireless networks are platforms that are distributed with wireless communication and control provisions. Also, industrial wireless networks are low cost can be deployed faster and are increasingly replacing the prevailing wired networks. Deployment of these networks results in savings in terms of labor, materials, and energy in conjunction with streamlined processes. These solutions are optimal for hazardous or hard-to-reach zones in several industries like mining or chemicals. Various communication technologies used in ISWN are Bluetooth, Wi-Fi, WLAN, Zigbee, and others. Applications for these technologies include automotive, aerospace and defense, machinery, and discrete mechanical parts manufacturing among others.
Global Industrial 2.4 GHz Wireless Technologies Market Drivers:
The global industrial 2.4 GHz wireless technologies market is expected to register substantial growth in the coming years due to the surge in popularity of IWSN among various industry verticals such as oil & gas, automotive, manufacturing, healthcare and others. Also, the increase in the need to improve process efficiencies and easy deployment of economic wireless sensor networks drive the market growth. Advantages delivered by IWSN like its easy-to-use & application-specific nature further fuel its adoption.
To introduce any of the new technology within the enterprise, a major driver and motivational factor is the potential financial gains, i.e. reduced costs and/or increased revenue. Potential domains where wireless technology is often helpful to the industry are often categorized into three different applications, namely mobile ICT, wireless instrumentation, and Asset & personnel tracking. The focus of manufacturers on improving wireless sensing technology has increased due to which wireless sensors are predicted to gain traction. The plunging cost of sensors, in conjunction with the growing trend of process optimization, home automation and lifestyle improvement, is increasing the adoption of wireless sensor networks (WSNs). Sensors and other peripherals are significant power consumers.
The energy consumption rate for the sensors in a wireless sensor network differs based on the protocols followed by the sensors for communication. Although technologies like ultra-low-power processors, tiny mobile sensors, and wireless networking are available, there is a requirement for efficient power management and optical power consumption in IoT devices. Connectivity load is one more crucial factor since numerous devices are supposed to be connected simultaneously. For example, a mean smart home may contain 50 to 100 connected appliances, lights, thermostats, etc. each with their specific power requirements. Equipment such as smart meters is also used to make the road power efficient.
In addition, during the previous couple of years, the emergence of ordinary communication protocols has boosted the adoption of wireless networks across various industries. Increasing industrial automation is additionally leading to the growth of the economic wireless technologies market. The rising trend of smart factories, growing connectivity between different industrial processes and increased use of machine-to-machine solutions are a few of the crucial drivers of the market.
Global Industrial 2.4 GHz Wireless Technologies Market Restraints:
However, growth in privacy concerns and data security are the key factors that curb the expansion of the market. A major challenge for the expansion of the economic wireless technologies market has been the availability of multiple wireless communication standards leading to little or no interoperability between the varied networks.
Impact of COVID-19 on the global industrial 2.4 GHz wireless technologies market:
The effects of COVID-19 have an enormous impact on every end-use industry, affecting staple supply, disrupting the electronics value chain, and causing an inflationary risk on products. The pandemic has caused a boost in remote working and more focused evaluation and de-risking of the end-to-end value chain. The demand for wireless technologies has increased due to the pandemic as they're helping us to connect virtually. Different wireless communication and positioning technologies like cellular positioning systems, drones and global positioning systems (GPS) are used to supervise the spread of the infection in the outdoor environment. Radio Frequency identification (RFID), Wi-Fi, Visible light, Zigbee, and Bluetooth are indoor positioning technologies, which often offer promising solutions for monitoring isolated people and maintaining a safe working atmosphere. Proximity Trace, a recently developed solution for this cause, can be a sensing-and-communication technology for workforce remote monitoring while carrying on essential activities. A tag is incorporated with a worker’s cap or worn on a lanyard which sends real-time alerts when the workers are in close contact.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
15.4% |
Segments Covered |
By Sensor, Technology, Vertical, and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Honeywell International Inc., Texas Instruments Inc., STMicroelectronics, Siemens AG, Endress Hauser AG, ABB Ltd., Schneider Electric, Linear Technology Corporation, NXP Semiconductors and Emersion Electric. |
This research report on the global industrial 2.4 GHz wireless technologies market has been segmented and sub-segmented based on sensor, technology, vertical and region.
Global Industrial 2.4 GHz Wireless Technologies Market - By Sensor:
Global Industrial 2.4 GHz Wireless Technologies Market - By Technology:
Global Industrial 2.4 GHz Wireless Technologies Market - By Vertical:
Global Industrial 2.4 GHz Wireless Technologies Market – By Region:
North America led the market in 2023 and the growth of the North American market is majorly driven by the growing need for industrial automation in North America. Asia-Pacific is estimated to witness absolutely the largest growth during the forecast period while North America is likely to hold the highest portion in the Industrial 2.4 GHz Wireless Technologies market.
KEY MARKET PLAYERS:
Companies such as Honeywell International Inc., Texas Instruments Inc., STMicroelectronics, Siemens AG, Endress Hauser AG, ABB Ltd., Schneider Electric, Linear Technology Corporation, NXP Semiconductors and Emersion Electric are currently playing a leading role in the global industrial 2.4 GHz wireless technologies market.
RECENT HAPPENINGS IN THE MARKET:
Frequently Asked Questions
The global industrial 2.4 GHz wireless technologies market was valued at USD 69 bn in 2023.
Major contributors to the global market share of industrial 2.4 GHz wireless technologies include North America, Europe, Asia-Pacific, and regions with a strong industrial automation presence.
The COVID-19 pandemic has accelerated the adoption of industrial 2.4 GHz wireless technologies as industries prioritize remote monitoring and control solutions, contributing to market growth.
Honeywell International Inc., Texas Instruments Inc., STMicroelectronics, Siemens AG, Endress Hauser AG, ABB Ltd., Schneider Electric, Linear Technology Corporation, NXP Semiconductors and Emersion Electric are the leading players in the global market.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region