Global Industrial Wireless Market in Factory Automation 2015-2019 - Increased Need for Smart Factories with Emerson Electric, Honeywell International, Siemens & Yokogawa Electric Dominating

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May 14, 2015, 09:14 ET

DUBLIN, May 14, 2015 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/6jqmpc/global_industrial) has announced the addition of the "Global Industrial Wireless Market in Factory Automation 2015-2019" report to their offering.
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The analysts forecast the global industrial wireless market in factory automation to grow at a CAGR of 12.57% over the period 2015-2019

Wireless devices are used both in process and discrete industries for a wide applications, including easy maintenance, control, and monitoring. These devices are perceived as the next big technological step in industrial automation. However, their adoption has been moderate to date because of concerns over the robustness, reliability, and security of wireless technology. A need for automation in industries such as oil and gas, automotive, power, and textile has created need for industrial wireless.

The need for smart factories, i.e., automated factories, has increased globally, and this trend will gain considerable traction during the forecast period. Manufacturing-based countries such as China and Germany have started to automate their existing factories to stay ahead of the competition. Automation enables better communication and precise coordination within factories, and ensures flexibility in their underlying processes. Several wireless vendors are foraying into the market through innovative wireless offerings to tap the high growth potential of the industrial wireless automation space. The process and discrete manufacturing industries use the best industry practices for information sharing, data retrieval, and documentation.

According to the report, the emergence of low-cost manufacturing hubs such as China and India, as well as increased outsourcing of manufacturing activity to the region, have made APAC a global manufacturing hub. Major manufacturers from the Americas and EMEA are setting up manufacturing facilities in the region to leverage its cost advantage. They are equipping these facilities with state-of-the-art technologies and machinery, including wireless technologies. The industrial wireless systems enhance communication and enable global access to all applications, which is encouraging their use among industries. They are easy to install and maintain. The increased number of greenfield projects in APAC bodes well for overall market growth.

Further, the report states that the lack of awareness among some end-users about the advantages of wireless technologies has led to only moderate adoption of them.

The following are the major end-users in the global industrial wireless market in factory automation: