The industrial wireless control switches market will register a CAGR of over 4% by 2023
LONDON, Feb. 4, 2019 /PRNewswire/ -- About this market
Wireless systems are gaining prominence in industries; with increasing process complexity and need for flexible operations. Traditional control switches in this regard are paving the way for wireless control switches. Wireless control switches also eliminate the expenses incurred on maintenance. A wired control switch may undergo deterioration with time, owing to stress or bending of wires. In industries with a hazardous environment such as oil and gas and chemical and petrochemical: wires may degrade due to chemicals. Using wireless control switches. these maintenance-related issues can be resolved. Over the years advances in wireless technology and awareness about wireless control switches have led to an increased adoption of wireless control switches. This is further expected to increase during the forecast period. Technavio's analysts have predicted that the industrial wireless control switches market will register a CAGR of over 4% by 2023.
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Market Overview
Demand for wireless limit switches in packaging and material handling applications
The material handling industry has been aided by the growth in the e-commerce market. Packaging is an important part of the supply chain in the e-commerce market. With wired limit switches, any disruption in wire implies that the whole system needs to be halted. which can cause serious revenue loss. With wireless limit switches. replacement of faulty switch can be done quickly and swiftly.
Use of transmitters as alternatives
Many industries have started using transmitters instead of control switches in such applications. As it can measure the real-time performance of process variables. However: with better designs in transmitter and need for real-time data in industries. the popularity of transmitters is expected to increase in the future.
For the detailed list of factors that will drive and challenge the growth of the industrial wireless control switches market during the 2019-2023, view our report.
Competitive Landscape
The industrial wireless control switches market is moderately concentrated. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
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