Global Wireless Sensors Market to Grow at a CAGR of Around 20%: Technavio

Technavio has published a new report on the global wireless sensors market from 2017-2021. (Graphic: Business Wire)

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According to the latest market study released by Technavio, the global wireless sensors market is expected to reach USD 6.79 billion by 2021, growing at a CAGR of around 20%.

This research report titled ‘Global Wireless Sensors Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The implementation of Internet of Things (IoT) and the increasing sales of smart devices will boost the demand for wireless sensors. Data will be directly transmitted to smart devices through these sensors for monitoring purposes that include temperature, current, voltage, movement, and positioning. The North American and the developed countries in APAC region is expected to generate the maximum demand for wireless sensors in the coming years. Many countries including China, Korea, Japan, Taiwan, and India are adopting wireless sensors at a fast pace.

According to Sunil Kumar Singh, a lead sensors research analyst from Technavio, “A rise in the deployment of these wireless sensors in sectors such as industrial, energy and gas, agriculture, defense and surveillance, healthcare, office and residential users, and many others will boost the demand for wireless sensors market in the coming years. Wireless sensors are also being used in several emerging markets like wearables, consumer electronics, automotive, IoT applications, and other electronic segments.”

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Technavio’s hardware and semiconductor research analysts categorize the global wireless sensors market into the following segments by product. They are:

  • Temperature and humidity sensors
  • Pressure and flow sensors
  • Acoustic sensors
  • Gas and chemical sensors
  • Electrical and magnetic sensors
  • Biosensors
  • Motion and surveillance sensors
  • Others

The top three product segments for the global wireless sensors market are discussed below:

Motion and surveillance sensors

The motion and surveillance sensors is expected to grow at a CAGR of nearly 23% through 2021. Almost every sector including industrial, retail, home automation, oil and gas industries are using wireless motion and surveillance sensors. The rising trend of smart homes and IoT applications and the increasing use of sensors in offices will boost the demand for wireless sensors during the forecast period.

“The biggest advantage of motion and surveillance sensors is that there is no outage issue. Sensors keep a constant watch for any incident occur. They keep track of moving vehicles, parked vehicles, people, or any activity that may arouse suspicion. For instance, sensors can detect if five to six vehicles pull up in quick succession in front of a house and the police can put this event in context to bust a drug racket or even detain militants,” adds Sunil.

Flow and pressure sensors

The flow and pressure sensors segment is rapidly gaining momentum, and it will grow at a CAGR of more than 18% during the forecast period. Wireless flow sensors were developed due to the risks in wiring and the excessive cost of wired sensors. Flow and pressure sensors are used to monitor pipelines and enable prompt results, and they are also used to ensure the security of the equipment, high-speed communication, and monitoring critical operations of power plants.

Pressure sensors are required to monitor manufacturing processes. These sensors can be installed almost anywhere, which enables them to work on controlling processes and having enhanced monitoring abilities. The assimilation of miniature radios with these sensors that enable control of fluidic valves as well as heating, ventilation and air conditioning (HVAC) systems is the latest development in this technology.

Gas and chemical sensors

The gas and chemical sensors is expected to grow at a CAGR of nearly 21% through 2021. The oil and gas segment is striving to achieve high productivity, safety, as well as operational and energy efficiency. The need for precision and safety has become a priority in the gas and chemical industries, which will increase the demand for wireless sensors in the upcoming years. Gas and chemical industries are depending heavily upon the technological features, to improve the efficiency of their processes. This will boost the demand for gas and chemical sensors during the forecast period.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • ABB (ASEA Brown Boveri)
  • Honeywell Process Solutions
  • General Electric
  • Siemens
  • Yokogawa Electric

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global wireless sensors market is expected to reach USD 6.79 billion by 2021, growing at a CAGR of around 20%.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com