Technavio Announces the Publication of its Research Report Global Industrial Transmitters Market 2016-2020
Technavio recognizes the following companies as the key players in the global industrial transmitters market: ABB, Emerson Electric, Honeywell, Schneider Electric, and Yokogawa.
Other Prominent Vendors in the market are: Accutech Instrumentation, American Sensor Technologies, AMETEK, Danfoss, Dwyer Instrument, Endevco Foxboro/Invensys, Fuji Electric, GE, Omega Engineering, Siemens Energy and Automation, and Wika.
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Commenting on the report, an analyst from Technavios team said: Increasing use of wireless transmitters will be a key trend for market growth. Wireless transmitters are gaining more traction in new installation as they can be easily installed in hard-to-reach areas and incurs lower installation cost by eliminating the cost of wiring runs. While it accounted for less share in the overall industrial transmitters market during the base year, this segment is predicted to grow rapidly due to ease of installation and improved connectivity in an industrial set-up. Some of the battery operated transmitter, which is majorly used with wireless transmitters are also expected to grow rapidly.
According to the report, growing demand from oil and gas industry will be a key driver for market growth. Increased industrial development in both developed and developing countries has boosted global demand for energy, which is fueling the oil and gas industry significantly. Post the recession of 2008-2009, the global gross output has risen steadily from 2.4% in 2012 to 2.6% in 2014, which may reach to 3.3% in 2016. This is likely to propel the overall manufacturing activities worldwide and the need for monitoring different process related parameters in the oil and gas industry.
Further, the report states that complexity in design will be a challenge for the market. Industrial transmitters are used in many industrial automation and control systems. Complexity in the design of industrial transmitters is increasing because of the integration of more functions into transmitters and the constant and growing demands from end-users. Vendors have to focus more on adding new functionalities to microcontroller designs to meet end-user demand. This increased complexity will make the manufacturing process more expensive, as vendors have to install sophisticated machinery. This ultimately results in a delay in production schedules and adds to the cost of production.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Industrial Transmitters
Industrial transmitters are widely used in all industrial applications for measuring, monitoring, testing, and automation. The value chain extends from the detection of process parameters in process industries to the analysis of specifications and characteristics of the final product. IoT has introduced new growth opportunities in the global industrial transmitters market as industrial transmitters are vital for effective implementation of IoT. The global measurement, control, and sensing market is growing in recent years. End-users also realize that better data management will drive down costs, enhance adherence to environmental regulations, and increase productivity.
Technavios analysts forecast the global industrial transmitters market to grow at a CAGR of 5.15% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial transmitters market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market. To calculate the market size, we consider revenue generated from sales and aftermarket services of industrial transmitters.
The market is divided into the following segments based on geography:
Technavio’s report, Global Industrial Transmitters Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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