Authored By: Sarah
19 Mar 2021

Industrial Wireless Control Switches Market Size to Grow by $ 39.16 mn through 2021-2025

The industrial wireless control switches market is expected to grow by $ 39.16 mn, accelerating at a CAGR of almost 5% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.


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Industrial Wireless Control Switches Market: Segmentation by Product

This report provides a detailed analysis of the market by Product (Wireless limit switches and Wireless push buttons) and Geography (APAC, Europe, North America, MEA, and South America). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.

Industrial Wireless Control Switches Market to Grow by $ 39.16 Million through 2021-2025

Industrial Wireless Control Switches Market: Vendor Analysis

The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Banner Engineering Corp., EPG Companies Inc., Georg Schlegel GmbH & Co. KG, Honeywell International Inc., Humanistic Robotics Inc., Kar-Tech Inc., OMRON Corp., Schneider Electric SE, steute Technologies GmbH & Co. KG, and ZF Friedrichshafen AG 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 position in the slow-growing segments.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

The Global Industrial Wireless Control Switches Market is expected to grow by $ 39.16 million, accelerating at a CAGR of almost 5% during the forecast period. Technavio evaluates the market with a detailed investigation into the market forces, emerging trends, and growth drivers. It also provides competitive benchmarking to equip clients with actionable insights that will help them navigate through the current market scenario. Preview our latest report

"The migration toward wireless systems will drive the growth prospects for the global Industrial Wireless Control Switches Market in the forthcoming years. 45% of the market growth will originate from APAC during the forecast period", says senior research analyst for the Industrials sector at Technavio.

Industrial Wireless Control Switches Market to Grow by $ 39.16 Million through 2021-2025

Industrial Wireless Control Switches Market: Product Segment Highlights

  • Product Segmentation: Wireless limit switches and Wireless push buttons
  • The growing use of wireless limit switches in material handling applications will boost the growth of industrial wireless control switches market. Hence, the market segment will exhibit a fast growth rate during the forecast period. Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in the demand for wireless limit switches. This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial wireless control switches market size.
  • 45% of the market growth will originate from APAC during the forecast period. China and India are the key markets for industrial wireless control switches in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The growing demand for energy security will facilitate the industrial wireless control switches market growth in APAC over the forecast period.
  • There is a growing preference for wireless control switches in the automotive, semiconductor, and electronics industries as they offer flexibility, remote actuation, and easy mobility when compared to wired control switches. 

Industrial Wireless Control Switches Market: Competitive Analysis

Industrial Wireless Control Switches Market to Grow by $ 39.16 Million through 2021-2025

  • The Industrial Wireless Control Switches Market is concentrated due to the presence of several vendors.
  • Market vendors focused on market expansion, innovations, and expansion of distribution networks.
  • Banner Engineering Corp., EPG Companies Inc., Georg Schlegel GmbH & Co. KG, Honeywell International Inc., Humanistic Robotics Inc., Kar-Tech Inc., OMRON Corp., Schneider Electric SE, steute Technologies GmbH & Co. KG, and ZF Friedrichshafen AG are some of the major market participants.
  • Growing regulatory compliance for safety is one of the key trends driving the growth of the market during the forecast period.

Technavio provides custom research reports with detailed insights on the impact of COVID-19 with respect to the industry, region, and supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations. Download a Free Sample Report 

 

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