Wireless HART Market Size (2023 – 2030)

The Global Wireless HART Market is estimated to be worth USD 6.46 Billion in 2022 and is projected to reach a value of USD 11.12 Billion by 2030, growing at a CAGR of 7.03% during the forecast period 2023-2030.

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In industrial wireless communication, the Wireless HART (Highway Addressable Remote Transducer) market is where the Wireless HART protocol is used. Since about edition 7, a subclass of HART industrial instruments transmission medium called Wireless HART has been used to send measurements utilizing 2.4 GHz electromagnetic radiation. Each instrumentation connection is made through a gateway device, which serves as a bridge between the wireless connection and a network switch or hosting process control. In addition to communicating with the gateways, individual Wireless HART devices establish connections with one another, giving the impression that the data transmission pathways are interconnected "meshes" with all nearby nodes. Due to the process industry's rising adoption of technologies for wireless communication, the Wireless HART market is anticipated to expand in the upcoming years. The introduction of Wireless HART in process automation applications is being driven by the advantages of wireless communication, such as higher flexibility, lower installation costs, and improved dependability. The market is expanding as a result of rising wireless communication usage and the incorporation of technologies like AI, ML, and big data.

Wireless HART Market Drivers:

Increasing adoption of wireless communication technology is propelling market growth

The adoption of wireless communication technology is increasing in the process industry due to its numerous benefits, such as reduced installation costs, increased flexibility, and improved reliability. Wireless HART offers a reliable and secure wireless communication solution, which is driving its adoption in process automation applications. Additionally, remote monitoring and control of industrial processes are becoming increasingly important in the process industry. Wireless HART enables the remote monitoring and control of field devices, which can help to improve operational efficiency and reduce downtime, therefore augmenting the market size of the wireless HART globally.

Increasing focus on safety and regulatory compliance is driving continuous market growth

The process industry is highly regulated, with safety being a top priority. Wireless HART can help to improve safety by enabling remote monitoring and control of processes and equipment, and by providing real-time data to operators and maintenance personnel. The demand for industrial automation is also increasing as companies look to improve efficiency, reduce costs, and increase productivity. Wireless HART can play a key role in industrial automation by enabling wireless communication between field devices and control systems.

Wireless HART Market Challenges:

Security concerns as of now an increase in cyber-attacks are hindering the market expansion

As wireless communication becomes more widespread, the risk of cyber-attacks increases. The wireless transmission of sensitive data in the process industry creates potential vulnerabilities that need to be addressed through robust security protocols. Also, interference from other wireless devices or radio frequency (RF) signals can impact the reliability of wireless communication. The co-existence of multiple wireless technologies in the same environment can also cause interference and affect the performance of Wireless HART devices.

The limited range can also increase the cost and complexity of the system limiting the market growth

Wireless communication can be limited by the range of the signal. In some industrial environments, the range of the signal may be insufficient to provide full coverage. This can be addressed by using a network of gateways to extend the range, but this can increase the cost and complexity of the system. Wireless HART can offer cost savings in terms of installation and maintenance, thus, the initial investment can be higher than traditional wired solutions. The cost of Wireless HART devices and gateways may also be higher than other wireless communication protocols.

Wireless HART Market Opportunities:

The Increasing demand for smart manufacturing may present a gateway of opportunities in the sector

The growing trend towards smart manufacturing and Industry 4.0 is driving the adoption of wireless communication technology in the process industry. Wireless HART can enable remote monitoring, control, and real-time data collection, which are key components of smart manufacturing. Also, the integration of Wireless HART with IoT platforms can enable new use cases and applications in the process industry. By integrating Wireless HART with IoT platforms, it can provide enhanced connectivity, data analytics, and other services. 

WIRELESS HART MARKET REPORT COVERAGE:

SEGMENTATION ANALYSIS

Global Wireless HART Market - By Component:

• Hardware

• Software

• Services

Most likely, the offering segment's hardware offering will have the biggest market share. Even the increased demand for wireless HART devices and gateways across a range of end-user industries, including water & wastewater, chemical, and even the oil & gas industry is also propelling the expansion of the hardware offering segment. So, for wireless HART devices, the software section offers a variety of software solutions, including Such as configuration, asset, and monitoring and control software. The demand for software solutions for wireless HART devices is being driven by both the growing use of wireless communication technologies and the requirement for real-time data monitoring and control.

Global Wireless HART Market - By End-User:

• Oil & Gas

• Chemicals

• Pharmaceuticals

• Water & Wastewater

• Food & Beverages

• Power

The oil & gas industry is likely to hold the highest market share in the end-user segment. Wireless HART devices are widely used in the upstream, midstream, and downstream activities of the oil & gas industry. The increasing demand for oil & gas products, the need for real-time data monitoring, and the adoption of wireless communication technologies are driving the growth of the wireless HART market in the oil & gas industry.

Global Wireless HART Market - By Region:

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

With a rise in the need for communication systems that are wireless across a number of industries, including oil & gas, chemical, and even pharmaceutical, North America is one of the primary markets for wireless HART technology. Additionally, due to the growing usage of wireless sensor nodes and the desire for remote monitoring and control of manufacturing applications, demand for Wireless HART technology is anticipated to increase in Europe as well during the forecasted years.

Global Wireless HART Market Key Players:

1. Emerson Electric Co.

2. Cisco Systems Inc.

3. Analog Devices, Inc.

4. Radiocrafts AS

5. NXP Semiconductors N.V.

6. Others

COVID-19 Impact on Global Wireless HART Market:

This pandemic has accelerated the adoption of digital technologies in the process industry, including wireless communication. With travel restrictions and remote working, there has been an increased demand for remote monitoring and control of industrial processes, which has driven the adoption of Wireless HART. Besides that, the pandemic has caused supply chain disruptions, which have affected the availability of components and equipment needed for Wireless HART installations. The pandemic has also caused a slowdown in industrial activity, particularly in sectors such as oil and gas, which has reduced the demand for Wireless HART. It has also caused a decline in overall investment in the process industry, as many companies have postponed capital expenditure and reduced spending. This has had a negative impact on the Wireless HART market, particularly in the short term. As the pandemic subsides and industrial activity picks up again, the demand for Wireless HART is likely to increase, particularly as companies look for ways to improve efficiency, reduce costs, and increase safety. In the longer term, the adoption of wireless communication technology, including Wireless HART, is estimated to continue to grow as the process industry embraces digitalization and Industry 4.0.

Global Wireless HART Market Recent Developments:

• January 2022, Emerson announced the Release of Its Wireless-hart Gateway 1410d, Which Provides Secure and reliable wireless Communication between Hart Field Devices and host systems.

• In November 2022, Siemens AG launched its new Simatic WirelessHART Gateway, which is designed to enable wireless communication between HART devices and the Simatic automation system. The gateway supports the HART 7 protocol and can connect up to 250 devices.

• DECEMBER 2021, Oil and Gas Companies are undergoing a digital transformation and the combined solution of Emerson’s WirelessHART/ISA 100 IoT Module and Cisco’s 802.11ac Wave 2 heavy-duty.