The market for wireless monitoring and control products will increase by a compound annual growth rate (CAGR) of 47% over the next five years, bringing shipments from $109 million in 2001 to nearly $752 million in 2006, according to a report recently released by Venture Development Corp. (VDC), Natick, Mass.
“The North American Market for Wireless Monitoring & Control in Discrete and Process Manufacturing Applications,” analyzes growth potential in several markets, including utilities, chemical manufacturers, and automotive plants. While the report predicts all three groups will increase their use of wireless monitoring and control devices, the utilities market is set to exhibit the greatest gain, at 17%.
The pictures is not completely rosy, however, Due to users’ concerns about the reliability and safety of using wireless technology for true control applications, the majority of products sold will be for monitoring applications, according to the study.
For more information on the study, visit www.vdc-corp.com/industrial/press/02/pr02-36.html.