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Global Industrial Wireless Sensor Networks to Increase to $3.795 Billion by 2017

Market research firm Markets and Markets has released a report titled “Industrial Wireless Sensor Networks (IWSN) Market- Global Forecast & Analysis (2012-2017): By Technology, Components, Applications, Geography”.

According to the report, the market is expected to achieve a CAGR of 15.58% to reach $3.795 billion from 2012 to 2017. The report also states that the Industrial Wireless Sensor Networks market for Manufacturing and Process Control Automation is likely to grow from $1.610 billion in 2011 to $3.795 billion in 2017.

The major companies considered for this market are Emerson, GE, Honeywell, Invensys, Mitsubishi, Yokogawa, ABB and Endress+Hauser. The rising demand for wireless sensors is expected to force various applications and industries to shift from traditional wired technologies to the latest wireless technologies.

Asia-Pacific region is expected to achieve the highest growth rate due to the increase in production in the APAC area, favourable government policies and a significant increase in population. Within the Asia-Pacific region, China is expected to be the major growth driver followed by India particularly in the IWSN market. The prominent technologies used in this market are ISA100.11a, Wireless HART, Bluetooth, CDMA, GSM, GPRS, Zigbee and IEEE 802.11. The market has seen rapid growth in the US due to heavy favourable funding provided by the government.

Source: http://www.marketsandmarkets.com

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