Industrial wireless transmitters market to reach $6.1 bn by 2027

In the changed post COVID-19 business landscape, the global market for Industrial Wireless Transmitters estimated at US$4 Billion in the year 2020, is projected to reach a revised size of US$6.1 Billion by 2027, growing at a CAGR of 6.3% over the analysis period 2020-2027. Pressure Transmitters, one of the segments analyzed in the report, is projected to record a 6.8% CAGR and reach US$1.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the General Purpose segment is readjusted to a revised 6.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 10.8% CAGR

The Industrial Wireless Transmitters market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2027 trailing a CAGR of 10.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 6.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$812.6 Million by the year 2027.

Level Transmitters Segment to Record 6% CAGR

In the global Level Transmitters segment, USA, Canada, Japan, China and Europe will drive the 6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$484.3 Million in the year 2020 will reach a projected size of US$702.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 7.3% CAGR through the analysis period.

CT Bureau