The global wireless sensor market was valued at $15.5 billion in 2021 and is projected to reach $102.5 billion by 2031, growing at a CAGR of 20.6% from 2022 to 2031. A wireless sensor is a gadget designed to convey data to a receiver using wireless technology. Since wireless sensors are adaptable and simple to install, they are deployed in various applications, including home automation, industrial automation, and environmental automation.
The growth of global wireless sensors is majorly driven by the surge in the use of wireless sensors in IoT applications coupled with the rise in the adoption of wireless sensor applications for remote monitoring. Moreover, the rise in the establishment of smart cities, buildings, and factories is expected to drive market growth. However, the high risk associated with data privacy and security-related concerns act as prime restraints of the global market. However, the rise in the adoption of wireless sensors in wearable devices is anticipated to provide lucrative opportunities for transportation, aerospace, and unities for the wireless sensors industry during the forecast period.
The wireless sensors market is segmented based on type, industry vertical, and region. On the basis of type, the market is segmented into biosensors, temperature sensors, pressure sensors, flow sensors, humidity sensors, gas sensors, level sensors, motion and positioning sensors, and others. By industry vertical, the market is classified into consumer electronics, industrial, automotive and defense, healthcare, agriculture, and others. Based on region, the wireless sensors market is studied across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the market include ABB Ltd., Texas Instruments Inc., STMicroelectronics, Emerson Electric Co., Honeywell International Inc., Siemens AG, Schneider Electric, Broadcom Inc., General Electric Company, NXP Semiconductors, Rockwell Automation Inc., TE Connectivity Ltd., and Broadcom Inc.
The growth of global wireless sensors is majorly driven by the surge in the use of wireless sensors in IoT applications coupled with the rise in the adoption of wireless sensor applications for remote monitoring. Moreover, the rise in the establishment of smart cities, buildings, and factories is expected to drive market growth. However, the high risk associated with data privacy and security-related concerns act as prime restraints of the global market. However, the rise in the adoption of wireless sensors in wearable devices is anticipated to provide lucrative opportunities for transportation, aerospace, and unities for the wireless sensors industry during the forecast period.
The wireless sensors market is segmented based on type, industry vertical, and region. On the basis of type, the market is segmented into biosensors, temperature sensors, pressure sensors, flow sensors, humidity sensors, gas sensors, level sensors, motion and positioning sensors, and others. By industry vertical, the market is classified into consumer electronics, industrial, automotive and defense, healthcare, agriculture, and others. Based on region, the wireless sensors market is studied across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the market include ABB Ltd., Texas Instruments Inc., STMicroelectronics, Emerson Electric Co., Honeywell International Inc., Siemens AG, Schneider Electric, Broadcom Inc., General Electric Company, NXP Semiconductors, Rockwell Automation Inc., TE Connectivity Ltd., and Broadcom Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wireless sensor market analysis from 2021 to 2031 to identify the prevailing wireless sensor market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the wireless sensor market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global wireless sensor market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Biosensors
- Temperature Sensor
- Pressure Sensor
- Humidity Sensors
- Gas Sensors
- Flow Sensors
- Level Sensors
- Motion and Positioning Sensors
- Others
By Industry Vertical
- Consumer Electronics
- Industrial
- Automotive and Transportation
- Aerospace and Defense
- Healthcare
- Agriculture
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ABB Ltd.
- Texas Instruments Inc.
- STMicroelectronics
- Emerson Electric Co.
- Honeywell International Inc.
- Siemens AG
- Schneider Electric
- General Electric Company
- NXP Semiconductors.
- Rockwell Automation Inc.
- TE Connectivity Ltd.
- Broadcom Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: WIRELESS SENSOR MARKET, BY PRODUCT TYPE
CHAPTER 5: WIRELESS SENSOR MARKET, BY INDUSTRY VERTICAL
CHAPTER 6: WIRELESS SENSOR MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Wireless Sensor Market," the wireless sensor market was valued at $15.5 billion in 2021 and is estimated to reach $102.5 billion by 2031, growing at a CAGR of 20.6% from 2022 to 2031.The Wireless Sensors Market is likely to experience a significant growth rate of 20.6% from 2022-2031 owing to increasing market demand from the consumer electronics sector.
Wireless sensors are devices that provide information to a receiver or a centralized controller via wireless technology. These sensors can be used for a variety of tasks, including keeping track of environmental variables like temperature, humidity, light, and motion. They can be used to monitor the whereabouts and motion of individuals, animals, and other things. Since wireless sensors often have a tiny form factor and can be powered by batteries, solar cells, or other sources, they are simple to install and deploy in several scenarios.
Key factors driving the growth of the wireless sensors market include the surge in the use of wireless sensors in IoT applications paired with the rising establishment of smart cities, buildings, and factories. In recent years, automation-based solutions and services have witnessed significant growth globally. This has increased attention on IoT-based gadgets due to their cutting-edge and creative uses. A technology known as the Internet of Things (IoT) is used to connect or network nearly all types of devices, including cellphones, microwaves, refrigerators, and buildings. IoT connects all these devices to a single network via electronic software, sensors, and actuators. It includes several wireless sensors, including temperature, proximity, and motion. New sensors and technologies are constantly being developed to improve the accuracy, dependability, and cost-effectiveness of data collection and transmission using wireless sensors. Real-time data is becoming more and more necessary for businesses and organizations to make educated decisions, and next-generation wireless IoT sensors make it possible to collect this data. Further, the rise in investment by prime players to develop next-generation wireless Internet of Things sensors is driving the market growth. Therefore, growing awareness regarding wireless sensor solutions is propelling the demand for cable joints.
The market also offers growth opportunities to the key players in the market. Emerging economies such as China, India, and Brazil are engaged in investments in next-generation semiconductors for smart infrastructure and home automation solutions. Further, the surge in automation paired with a rise in demand for smart wearable solutions globally is acting as one of the prime factors offering significant growth opportunities for the market across emerging economies, thereby providing growth opportunities for the stakeholders in the coming years.
The wireless sensor market is segmented based on type, industry vertical, and region. The type of market is segmented into biosensors, pressure sensors, temperature sensors, flow sensors, humidity sensors, gas sensors, level sensors, motion and positioning sensors, and others. By industry vertical, the market is classified into consumer electronics, industrial, automotive, aerospace and defense, healthcare, agriculture, and others. Region-wise, the wireless sensors market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players profiled in the study include Texas Instruments, STMicroelectronics, TE Connectivity Ltd., Honeywell International Inc., and ABB Ltd. The players in the market have been actively engaged in the adoption of various strategies such as acquisition, product development, partnership, product launch, and expansion to remain competitive and gain an advantage over the competitors in the market. For instance, in 2022, Honeywell announced a new sustainability solution for carbon emissions monitoring and optimization which it has launched for earlier adopters and has also been deployed at its own facility. Honeywell Versatilis™ Signal Scout™ wireless Industrial IoT leak detection sensors will enable organizations to monitor and visualize emissions in near real-time. The new solution will help customers in the industrial sector as they strive to reduce their greenhouse gas (GHG) emissions and meet their carbon reduction goals. In addition, in February 2022, STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications and a top manufacturer of micro-electro-mechanical systems (MEMS), is introducing its third generation of MEMS sensors. The new sensors enable the next leap in performance and features for consumer mobiles and smart industries, healthcare, and retail.
Key Market Insights
- By product type, the biosensors segment was the highest revenue contributor to the market and is estimated to reach $15.8 billion by 2031, with a CAGR of 21.2%. However, the flow sensors segment is estimated to be the fastest-growing segment with a CAGR of 22.3% during the forecast period.
- Based on industry vertical, the consumer electronics segment was the highest revenue contributor to the market, with $5.37 billion in 2021, and is estimated to reach $32.0 billion by 2031, with a CAGR of 19.4%.
- Based on region, Asia-Pacific was the highest revenue contributor, accounting for $7.85 billion in 2021, and is estimated to reach $56.6 million by 2031, with a CAGR of 21.7%.
Companies Mentioned
- ABB Ltd.
- Texas Instruments Inc.
- STMicroelectronics
- Emerson Electric Co.
- Honeywell International Inc.
- Siemens AG
- Schneider Electric
- General Electric Company
- NXP Semiconductors.
- Rockwell Automation Inc.
- TE Connectivity Ltd.
- Broadcom Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 428 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 15.5 billion |
| Forecasted Market Value ( USD | $ 102.5 billion |
| Compound Annual Growth Rate | 20.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
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