The industrial wireless market in the process industry in the world this year is expected to grow 6.5%.
New York, TechnoBusiness Insights (English Edition) • The world’s industrial wireless market in the process industry in 2021 is expected to increase by 6.5%.
The prolonged pandemic has pushed companies to adopt greater technology, including using wireless to maximize production processes.
According to a report by Technavio, a global market research firm based in London, the world’s industrial wireless market during the period 2021-2025 will grow 10% to US$2.7 billion.
Asia Pacific became a significant contributor to the growth of the global industrial wireless market during this period, with an estimate of 44%.
ABB Ltd., Belden Inc., and Cisco Systems Inc. will emerge as a major player in working on the industrial wireless market in the process industry during the forecast period.•
Text: TechnoBusiness Insights
Data: Technavio, June 2021