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Wireless Sensors Market - Growth, Trends, and Forecast (2020 - 2025)

Wireless Sensors Market - Growth, Trends, and Forecast (2020 - 2025)

  • April 2020
  • 134 pages
  • ID: 5891590
  • Format: PDF
  • Mordor Intelligence LLP
Up to $750 off Until Feb 28th 2021

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The Global Wireless Sensors Market (henceforth referred to as the market studied) was valued at USD 7.28 billion in 2019, and is expected to reach USD 10.41 billion by 2025, registering a CAGR of 24.2%, during the period of 2020-2025 The increase in the adoption of wireless technology will drive the wireless sensor market in the forecast period.

- Wireless sensors offer several advantages, such as accuracy and reliability, with the help of various innovative technologies such as RFID and Bluetooth, in addition to the potential to make electronic devices easy to integrate. As a result, they have gained significant traction in the past few years. ?
- These sensors are mostly used in factory settings for data monitoring of production flow. These also find applications in defense, building automation, and other industries like materials handling, and food and beverage. Due to the increasing quest for new energy sources, government regulations, renewable energy development, and rapid technological advancements, the wireless sensors market is propelling.
- Wireless technology is mostly being deployed for IoT applications, allowing direct connection over Wi-Fi, 3G or 4G mobile data networks or local wireless networks. Many wireless devices consist of built-in intelligence that enables them to identify and link to the wireless building network automatically by pushing a button that adds the device to the network.
- In terms of applications, wireless sensors are in the growing phase and are expected to have high demand over the forecast period. However, emerging applications, such as wearables, outdoor navigation systems, IoT devices, and others, provide significant opportunities for wireless sensor vendors.

Key Market Trends
Increasing Adoption of Wireless Technologies to Drive the Market Growth

- Wireless technology has been playing a key role in the communication process, and various new forms of wireless technology are becoming essential for emerging technologies, including robots, drones, self-driving vehicles, and new medical devices.?
- Several manufacturers are heavily investing in technology, in order to cater to emerging verticals, such as smart cities and vehicle monitoring, which are profoundly impacted by the adoption of wireless sensing technologies.
- Due to substantial investments in the industry, new wireless sensor technologies can be developed, and existing infrastructure can be upgraded to support IoT and automation have been the primary trends impacting the industry on a global scale.?
- For instance, IoT is one such wireless sensor technology, which allows collecting information about surrounding environments over extended periods with little manual effort. Wireless sensors can be configured to measure a variety of variables, from air temperature to vibration.

Asia Pacific to Account for a Significant Market Growth

- Asia-Pacific is the largest region in the electrical and electronics manufacturing market. The region is also a significant vendor of wireless sensor technologies, especially in China and Japan.
- Countries, such as China and Japan, are also embracing smart manufacturing, which includes the use of control systems, such as PLC, SCADA, among others for various purposes, such as asset monitoring and remote process monitoring. For instance, China aims to establish its intelligent manufacturing system and complete the key industries’ transformation by 2025.
- The standardization of autonomous driving and advanced driver assistance systems (ADAS) in the region is expected to boost the market. Recently, the Ministry of Industry and Information Technology of the Chinese government issued the key working points of Intelligent Connected Vehicle Standardization for 2018, to promote and facilitate the development of the intelligent connected vehicles industry.
- Significant demand for smartphones and other consumer electronics devices from countries, such as India, China, Japan, and Singapore are encouraging many vendors to set up production establishments in the region. The abundant availability of raw materials and low establishment and labor costs have also helped companies launch their production centers in the region.

Competitive Landscape
The major players include General Electric, Yokogawa Electric Corporation, Honeywell International Inc., Texas Instruments Incorporated, Schneider Electric, Emerson Electric Co, and Rockwell Automation Inc. among others. The market is fragmented due to the high competition between top players in the industry. Hence, market concentration will be low.

- In Nov 2019 - Monnit Corporation announced a 525 percent memory increase for alta wireless sensors. Due to this, ALTA Sensors can now store 3,200 data points in case communication with the gateway is interrupted.
- In Oct 2019 - Honeywell International Inc. announced that its pressure sensors were being used to help test a range of innovative technologies, including the next-generation advanced unmanned aerial vehicles (UAVs). It supplied its TruStability RSC Series and HSC Series Digital Board Mount Pressure Sensors to Surrey Sensors Ltd (SSL), for integration into high-precision measurement systems that are used in a variety of sectors, including aerospace and Formula 1.

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