Wireless Sensor Network Global Market Report 2024

The wireless sensor network market size has grown rapidly in recent years. It will grow from $89.44 billion in 2023 to $104.66 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth observed in the historical period can be attributed to the expansion of emerging markets, a growing demand for smart consumer devices, and an increased need for remote monitoring.

The wireless sensor network market size is expected to see rapid growth in the next few years. It will grow to $201.1 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. Forecasted growth is fueled by government investments, support, increased demand for electric vehicles, rising urbanization, and expanding internet penetration. Key trends include heightened mergers and acquisitions, ongoing technological developments, increased partnerships and collaborations, widespread adoption of IoT connectivity, and continuous product innovations.

The escalating demand for smart consumer devices is set to drive the growth of the wireless sensor network market. This surge in demand is attributed to the desire for enhanced comfort, convenience, ease of use, automation, affordability, and security in consumers' lives. Smart consumer devices have become increasingly popular due to their ability to make daily life more efficient and intelligent, utilizing technologies such as the Internet of Things (IoT) and automation. The wireless sensor network is a key technology employed in making these devices smart. Addressing needs such as remote home monitoring and the growing concerns of the general public regarding safety, security, and convenience, wireless sensor networks play a crucial role. As per a survey by Oberlo, a Lithuania-based software company, in 2022, approximately 57.4 million US households actively use smart home devices, reflecting a 6.7% increase from 2021 when 53.8 million households utilized such devices. This increased demand for smart consumer devices is expected to propel the growth of the wireless sensor network market.

The surge in demand for electric vehicles is poised to support the expansion of the wireless sensor network market. Wireless sensors play a vital role in managing various functions in electric vehicles, including engine control systems, air conditioners, power windows, braking systems, headlights, and steering. In October 2022, the World Economic Forum reported that approximately 4.3 million new battery-powered electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold globally in the first half of 2022, with BEV sales growing by 75% and PHEVs by 37% compared to the previous year. Additionally, retail sales of electric vehicles in India reached 390,399 units in the first half of 2022, marking a remarkable 333% year-over-year growth compared to the same period in 2021. This substantial increase in the demand for electric vehicles is expected to be a key driver for the growth of the wireless sensor network market.

Prominent companies in the wireless sensor network market are actively engaged in the development of innovative technological solutions to enhance their market positions. A noteworthy example is Honeywell, a US-based conglomerate, which in October 2021 introduced the Honeywell Anthem, an advanced aircraft cockpit system. Distinguished as the first in the industry with an always-on, cloud-connected experience, the Honeywell Anthem system aims to improve flight efficiency, operations, safety, and comfort. Anchored by a flexible software platform, the system can be tailored to suit virtually every type of aircraft and flying vehicle, spanning large passenger and cargo planes, business jets, helicopters, general aviation aircraft, and the emerging class of advanced air-mobility (AAM) vehicles. Another instance of technological innovation in the wireless sensor network market is Salunda Limited, a UK-based offshore wireless network solution provider. In June 2021, Salunda Limited launched the Hawk wireless sensor network, designed to provide reliable and secure connectivity for critical production, operational, and safety systems in the oil and gas industry. Distinguished by robust standalone technology and protected by patents, the Hawk network is capable of accommodating more than 5,000 ultra-low power sensors. This network forms an integral part of a fully integrated wide area network, offering real-time location tracking and monitoring of people and equipment operating in hazardous environments.

Key players in the wireless sensor network market are placing a strong emphasis on product innovation and the development of novel solutions to reinforce their market positions. A noteworthy illustration of this trend is evident in the actions of Kistler, a global leader offering modular solutions in dynamic measurement technology for pressure, force, torque, and acceleration applications. In April 2022, Kistler introduced the 4017A piezoresistive absolute pressure sensor, hailed as the world's smallest piezoresistive pressure sensor. This groundbreaking sensor stands out for its compactness, innovative design, and exceptional media compatibility, positioning it optimally for applications in engine development, hydraulic systems, and pneumatic environments, both in hot and cold conditions. This product innovation exemplifies the commitment of major companies in the wireless sensor network market to stay at the forefront of technological advancements and cater to the evolving needs of diverse industries.

In January 2023, Semtech Corporation, a US-based supplier of analog and mixed-signal semiconductors, successfully acquired Sierra Wireless for $1.2 billion. This strategic move nearly doubles Semtech's yearly revenue and incorporates an additional $100 million in high-margin recurring sales from IoT Cloud Services. The acquisition aims to establish a new leader in Internet of Things (IoT) cloud-to-chip systems by combining the ultra-low power advantages of Semtech's LoRa with the higher bandwidth capabilities of cellular technology. Sierra Wireless, the acquired company, is a designer, manufacturer, and services provider in the field of wireless communications equipment.

Major companies operating in the wireless sensor network market report are NXP Semiconductors N.V., Texas Instruments Inc., Emerson Electric Co, STMicroelectronics N.V., Infineon Technologies AG, Analog Devices, TE Connectivity Ltd, Cisco Systems Inc., Siemens AG, ABB Ltd, pureLiFi. Private Company, BAE SYSTEMS PLC, Nikola Labs, OpenSignal, IntelliSense.io, SONAS Technology, Monnit, Holykell Technology Company Limited, Hansi Technology (shenzhen) Co. Ltd, Acrel E-Business (Shanghai) Co. Ltd, Bengbu SUNMOON Instrument Research Institute Co. Ltd, Foshan SCS Medical Instrument Co. Ltd, Ningbo Haishu Kaiau Electronics Co. Ltd, Anhui Ronds Science & Technology Incorporated Company, SPIRENT COMMUNICATIONS PLC, UR Group Ltd, Adaptive Wireless Solutions Ltd, TEKTELIC, Sigfox, Acceco, Networks Pl, SiliconBrane, Parker Hannifin Corporation, Aretas Sensor Networks Inc., Intel Corporation, TeleSense, Synaptics, Semtech Corporation, Eleven-X, NOVUS Automation Inc., DEV Tecnologia, Adperc Representações Comerciais Ltda, Claro Chile, VackerGlobal, VISIO AE, IoT Plus Middle East for Control Equipment LLC, SENSOR NETWORKS (PTY) LTD, Security Management Services, HOPE MicroElectronics, Powalert.

North America was the largest region in the wireless sensor network market in 2023. The regions covered in the wireless sensor network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wireless sensor network market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Key components in the wireless sensor network market include hardware, software, and services. Hardware encompasses the physical components of the network, including a processing unit, transceiver unit, sensing unit, and power unit. Various sensor types are employed, such as ambient light sensors, motion and position sensors, temperature sensors, heart rate sensors, pressure sensors, image sensors, and more. Connectivity options in wireless sensor networks include Wi-Fi, Bluetooth, Bluetooth/WLAN, cellular network, GPS/GNSS modules, Zigbee, NFC, WHART, ISA100, among others. End-users of wireless sensor networks span building automation, wearable devices, healthcare, industrial applications, automotive transportation, and more.

The wireless sensor network market research report is one of a series of new reports that provides wireless sensor network market statistics, including wireless sensor network industry global market size, regional shares, competitors with a wireless sensor network market share, detailed wireless sensor network market segments, market trends and opportunities, and any further data you may need to thrive in the wireless sensor network industry. This wireless sensor network market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The wireless sensor network market consists of revenues earned by entities by providing wireless sensor network solutions and services such as target tracking, control, and monitoring, node location, synchronization, and effective routing between nodes and base stations to enhance the collection, process, and transfer of data in an organization. The market value includes the value of related goods sold by the service provider or included within the service offering. The wireless sensor network market also includes sales of sensing units, processing units, communication units, and power units. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.