Industrial Wireless Sensor Network Revenues
San Diego, California, Oct. 30, 2018— Industrial wireless sensor networks (WSN) continue to expand into new markets with multi-protocol devices, maturing standards and ubiquitous IoT cloud platforms, according to a recently published report by ON World. The report’s findings are based on an extensive 2018 survey completed with the International Society of Automation (ISA) and the LoRa Alliance™.
“Wireless sensor networks are connecting millions of assets, processes and workflows for the industrial IoT,” said Mareca Hatler, ON World’s research director. “Wireless mesh protocols, location services and low power wide area networks (LPWAN) are the technologies driving industrial WSN today.”
Competition is intensifying for short range wireless sensor network components and devices. Multi-protocol devices mitigate the risk for end users while increasing the performance and functionality of WSN systems. For example, Honeywell’s latest gateways and access points feature a single 802.15.4 radio that simultaneously communicate ISA100 Wireless and Wireless HART. Many vendors are combining short-range radios such as Bluetooth and WiFi with LPWAN technologies illustrated by the multi-radio micro tracker and geolocation solution by Abeeway (Actility).
ON World’s survey found that three-quarters believe that wireless sensor networking and IoT are important strategic investment areas. The fastest growing WSN applications are asset tracking, corrosion/structural monitoring, factory automation and machine health monitoring. Forty-eight percent (48%) more respondents are planning asset tracking compared with a previous survey in Q4 2016.
In 2023, revenues for WSN equipment and associated services for industrial automation, agriculture and construction will surpass $13 billion up from $3 billion in 2017.
ON World’s report is based on input from 200+ individuals including in-depth phone interviews with industrial WSN vendors, suppliers and service providers as well as a Q2 2018 global survey completed in collaboration with ISA and the LoRa Alliance™.
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