PUBLISHER: Allied Market Research | PRODUCT CODE: 1266391
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266391
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.