COVID-19: Significant Shift in Strategy of Global Industrial Wireless Automation Market 2020-2024 | Adoption of High-speed Communication Network Solutions to Augment Growth | Technavio
Technavio has been monitoring the global industrial wireless automation market and it is poised to grow by USD 2.03 billion during 2020-2024, progressing at a CAGR of 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Industrial Wireless Automation Market 2020-2024 (Graphic: Business Wire)
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio's in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Cisco (News - Alert) Systems Inc., Emerson Electric Co., General Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens (News - Alert) AG, and Yokogawa Electric Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The adoption of high-speed communication network solutions has been instrumental in driving the growth of the market. However, increasing penetration of Power over Ethernet might challenge the market growth.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Industrial Wireless Automation Market 2020-2024: Segmentation
Industrial Wireless Automation Market is segmented as below:
Industrial Wireless Automation Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The industrial wireless automation market report covers the following areas:
This study identifies the increasing focus on predictive maintenance as one of the prime reasons driving the industrial wireless automation market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Industrial Wireless Automation Market 2020-2024: Key Highlights
Table of Contents:
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Solution
Drivers, Challenges, and Trends
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