Portland, OR, June 27, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Wireless Industrial Router Market By Type (Modular Routers, and Non-modular Routers), and Frequency Band (Single Band, Dual Band, and Tri Band): Global Opportunity Analysis and Industry Forecast, 2023–2032”. According to the report, the global vacuum circuit breaker industry generated $7.9 billion in 2022, and is projected to reach $14.7 billion by 2032, registering a CAGR of 6.5% from 2023 to 2032.
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Prime determinants of growth
The wireless industrial router market analysis is anticipated to expand significantly during the forecast period owing to surge in adoption of Industrial Internet of Things (IIoT), increase in demand for reliable secured connectivity, and growth in adoption of robotics technology in emerging countries. Additionally, during the forecast period, the wireless industrial router market is anticipated to benefit from advent of the 5G network connectivity. On the contrary, the high investment and shortage of skilled IT professionals is the restraint for wireless industrial router market growth during the forecast period. Nevertheless, the advent of 5G connectivity is expected to provide ample growth opportunities in the upcoming years.
Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2021 | $7.9 billion |
| Market Size in 2031 | $14.7 billion |
| CAGR | 6.5% |
| No. of Pages in Report | 250 |
| Segments Covered | Type, Frequency Band and Region |
| Drivers | Surge in adoption of Industrial Internet of Things (IIoTs) |
| Increase in demand for reliable secured connectivity | |
| Growth in adoption of robotics technology in emerging countries | |
| Opportunities | Advent of the 5G Network connectivity. |
| Restraints | High investment and shortage of skilled IT professionals |
COVID-19 Scenario:
- The pandemic had presented both challenges and opportunities for the Wireless industrial router market. Many industries experienced slowdowns or temporary shutdowns due to lockdown measures and social distancing requirements.
- This impacted the demand for wireless industrial routers as industrial activities were scaled back or put on hold. The increased focus on digital transformation, remote monitoring, automation, resilient connectivity, and emerging technologies has accelerated the adoption and deployment of wireless industrial routers in various industries.
The modular router segment to maintain its leadership status throughout the forecast period.
Based on type, the modular router segment held the highest market share in 2022, accounting for nearly four-fifths of the global wireless industrial router market revenue, and is estimated to maintain its leadership status throughout the forecast period, as it is known for its small size & flexibility, and it is widely used in HVACs, and industries, where high bandwidth is required to share the information on real time basis. Moreover, the same segment is projected to manifest the highest CAGR of 6.53% from 2023 to 2032, this is due to the growing adoption of industrial automation across various sectors, including manufacturing, oil and gas, utilities, transportation, and mining.
The dual band segment to maintain its leadership status throughout the forecast period.
Based on frequency band, the dual band segment held the highest market share in 2022, accounting for around half of the global wireless industrial router market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the tri band segment is projected to manifest the highest CAGR of 8.36% from 2023 to 2032 due to tri-band routers offer much more bandwidth than their dual-band counterparts, which makes them the better choice for large industries and businesses globally.
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North America to maintain its dominance by 2032.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global wireless industrial router market revenue. However, Asia-Pacific is likely to dominate the market during the forecast period with CAGR of 6.98%, owing to the increase in infrastructure of utilities and adoption of smart grid technologies.
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Leading Market Players:
- Advantech
- Alcatel-Lucent
- ANTAIRA TECHNOLOGIES, LLC.
- Cisco
- Four-Faith
- HMS Networks
- Moxa
- Peplink
- Queclink Wireless Solutions Co., Ltd.
- Ruijie Networks Co., Ltd.
The report provides a detailed analysis of these key players of the global wireless industrial router market. These players have adopted different strategies such as product development, and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wireless industrial router market analysis from 2022 to 2032 to identify the prevailing wireless industrial router market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the wireless industrial router market segmentation assists to determine the prevailing wireless industrial router market demand.
- Major countries in each region are mapped according to their revenue contribution to the global wireless industrial router market forecast.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the wireless industrial router industry players.
- The report includes the analysis of the regional as well as global wireless industrial router market trends, key players, market segments, application areas, and wireless industrial router market growth strategies.
Wireless Industrial Router Market Key Segments:
By Type:
- Modular Routers
- Non-Modular Routers
By Frequency Band:
- Single Band
- Dual Band
- Tri Band
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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