Global Wireless Sensors Market to Reach US$ 24.2 Billion by 2027, Fostered by Increasing Sales of Smart Wearable Devices

Published on Apr 25, 2019

As per the latest report by IMARC Group, titled “Wireless Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global wireless sensors market size reached US$ 8.4 Billion in 2021. Wireless sensors are devices that identify, record and respond to the changes taking place in the immediate physical environment. They have transmitters, which assist in converting signals from a process control instrument to a radio transmission. Wireless sensors were initially conceptualized for military applications. However, they are now also employed in regions that are difficult to access on account of severe weather conditions, such as wind, humidity, pollution and high temperature. As they aid in supervising processes in these regions, they are extensively used in managing water and detecting floods and forest fires.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Wireless Sensors Market Trends:

At present, the sales of smart wearable devices are on the rise owing to the widespread internet penetration. This represents one of the major factors strengthening the market for wireless sensors, which are widely used in these devices. Apart from this, the burgeoning defense industry is further catalyzing the demand for wireless sensors in military control, command, intelligence, computing, communications, battlefield surveillance, reconnaissance and targeting systems. Furthermore, prominent vendors operating in the industry are focusing on developing hi-tech future-based devices, especially for autonomous vehicles. As a result, they are expanding their budget to invest in research and development (R&D) activities. Looking forward, the market value is projected to reach US$ 24.2 Billion by 2027, expanding at a CAGR of 19.4% during the forecast period (2022-2027).

Market Summary:

Based on the product type, the market has been segmented into temperature, pressure, level, flow, humidity, bio-, gas, surveillance and security, motion and positioning, and other sensors. Amongst these, flow sensors exhibit a clear dominance in the market.
On the basis of technology, the market has been segregated into Bluetooth, Wi-Fi and WLAN, Zigbee, WirelessHART, RFID, EnOcean, and others.
The market has been divided on the basis of the end use into industrial, medical, energy, defense, agriculture, office and residential, and others. At present, the industrial segment accounts for the majority of the total market share.
Region-wise, North America enjoys the leading position in the market. Other major regions include Asia Pacific, Europe, Latin America, and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being ABB Ltd, STMicroelectronics, Texas Instruments Incorporated, Freescale Semiconductors Inc, Rockwell Automation Inc., Emerson Electric Co, Honeywell International Inc., Schneider Electric SA, Endress+Hauser SA, Yokogawa Electric Corporation, Siemens AG and General Electric.

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