[FURL=https://www.industryarc.com/Report/19430/wireless-m-bus-devices-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Wireless M-Bus Devices Market[/FURL] The global Wireless M-Bus Device market size is forecast to reach $208.3 million by 2026, growing at a CAGR of 9.8% from 2021 to 2026. The market growth is attributed to various factors including the need for improving public data networks, optimizing open systems interconnection facilities across major industries and so on. Wireless M-Bus device serves as a transmission control protocol for collecting meter readings or data from electricity, gas or water meters. Additionally, the growing need for long-range effective wireless connectivity within industrial machines, adoption of industrial IoT and so on will also impact the market growth.Key Takeaways
Power Generation sector is analyzed to grow with the highest CAGR during 2021-2026, owing to adoption of adoption of NB-IoT based devices and others.
North America wireless M-bus device market held the largest share in 2020, owing to the growing adoption of energy management systems and others
Increasing adoption of NB-IoT along with rising investments on smart cities for smart metering solutions is analyzed to significant drive the global wireless M-Bus device market during the forecast period 2021-2026.
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Wireless M-Bus Device Market Segment Analysis- By End Users
North America had dominated the global wireless M-bus device market with a share of 34% in 2020, and is anticipated to have a significant growth during the forecast period 2021-2026. Growth of varied industrial sectors, increasing adoption of energy management systems, shift towards connected devices for smart metering application areas have been attributing towards the market growth. In addition, rising penetration of IoT and wireless communication networks along with rapid urbanization can also drive the need for wireless m-bus devices. In May 2019, a telecom giant, AT & T Inc. announced about the launch of NB-IoT networks across United States, as a part of its cellular IoT advancements.
Wireless M-Bus Device Market Drivers
Increasing adoption of NB-IoT positively impacts the market growth of Wireless M-Bus Devices
Rising investments on smart city projects will drive the need for smart metering solutions
Wireless M-Bus Device Market Landscape
Wireless M-Bus Device top 10 companies include Texas Instruments, Farnell, Friendcom, MikroElektronika, IMST GmbH, Radiocrafts AS, AMIHO Technology, Webdyn, STMicroelectronics, ROHM Semiconductor
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