PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606399
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606399
The market for Battery-free Wireless Sensors was projected to reach USD 36.9 million in 2023 and expand at a CAGR of 29.20% between 2024 - 2032.
Battery-free wireless sensors use radio frequency identification technology to enable them to operate without a battery. This sensor draws energy from the RFID reader to power the sensing circuit and then reflects the digital data to the reader. Among the sectors that use battery-free wireless sensors are the automotive, consumer electronics, healthcare, aerospace and defense, and industrial verticals. Among its features are tracking, medical diagnostics, area and pressure sensing, security and surveillance, and temperature monitoring. The industry for battery-free wireless sensors is primarily driven by the growing need for thin, sleek electronic devices in various industry verticals, including industrial and healthcare, as well as wireless sensing devices due to their ease of use, low maintenance requirements, and quick digitization.
Battery-free Wireless Sensors Market- Market Dynamics
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The market for battery-free wireless sensors is mostly driven by digitization and expanding Internet of Things applications. The advancements in energy harvesting technologies, such as piezoceramic materials and photovoltaic materials, have substantially enhanced these sensors. Its performance has also been improved by new materials and parts, like as sophisticated thermoelectric and radiofrequency harvesting technology. Similarly, battery-free wireless sensors can now function at their best even on little energy due to developments in ultra-low power electronics and compact design. The market for battery-free wireless sensors is also being facilitated by the proliferation of IoT and its numerous applications, such as smart cities and industrial settings where battery replacements can be costly and unmanageable. Therefore, the global market for battery-free wireless sensors will expand as a result of economies becoming more automated and digital.
Battery-free Wireless Sensors Market- Key Insights
According to our research analyst's analysis, the global market is projected to expand at a CAGR of approximately 29.20% during the forecast period of 2024-2032.
The motion and position sensors category was predicted to hold the largest market share in 2023 based on sensor type.
The ultra high frequency category was predicted to hold the largest market share in 2023 based on frequency.
North America held the largest revenue share by region in 2023.
The Global Battery-free Wireless Sensors Market is segmented into Sensor Type, Frequency, Industry, and Region.
Based on frequency, the market is segmented into Low Frequency, High Frequency, and Ultra High Frequency. The ultra high frequency category led the market in 2023. UHF sensors are currently available from the majority of battery-free wireless sensor vendors for a range of uses. UHF sensors are perfect for industrial applications because they can be placed on metal and have read ranges that are up to 20 feet longer than those of low-frequency and high-frequency sensors. Additionally, UHF sensors enable numerous sensors to read with a single reader. UHF sensors are, therefore, effective in wireless sensor networks. The strong demand for UFH battery-free wireless sensors is a result of these considerations. Similar to this, high-frequency sensors have a sizable market share since they are widely used in supply chain applications, medical devices, and cell phones.
In terms of industry, the market is segmented into Oil & Gas, Automotive, Healthcare, IT & Telecommunications, Logistics, Food & Beverages, and Others. Throughout the forecast period, the battery-free wireless sensors market is anticipated to be dominated by the automotive segment. Globally, automakers are placing a strong emphasis on modernizing and automating their production processes. Automakers are using battery-free wireless sensors at a considerable pace because of their benefits, which include the ability to predict & prevent equipment failure by enhancing asset and equipment performance and efficiency at a lower maintenance cost. In the automotive industry, battery-free wireless sensors facilitate effective assembly operations and allow for predictive maintenance.
Battery-free Wireless Sensors Market- Geographical Insights
The Battery-free Wireless Sensors market is widely distributed geographically in North America, Latin America, Europe, Asia Pacific, the Middle East and Africa. These areas are further separated based on the countries that provide business.
The rise of the battery-free wireless sensors market in North America, which is predicted to dominate, is being pushed by the region's abundance of tech-driven sectors, particularly the influential Silicon Valley in the US. This environment promotes the development and integration of modern technologies. North America is setting the standard for the use of battery-free wireless sensor technologies across a range of industries, including logistics, the Internet of Things, and healthcare, thanks to its sizable technology companies, research institutes, and early adopter culture.
Throughout the projection period, the Asia Pacific market is anticipated to develop at the fastest rate. The increasing use of predictive maintenance solutions, growing industrialization, and growing pressure from competitors to boost operational efficiency are all contributing factors to the growth of this market in this region. Asia Pacific is experiencing a shortage of battery-free wireless sensors due to the expansion of manufacturing activities brought about by the relocation of production facilities to Asian nations with lower labor costs, like South Korea, China, and India.
Strategic analysis is a crucial tool for companies looking to establish a strong presence in the international market. Companies such as ON Semiconductor, Inductosense, Farsens, Phase IV Engineering, Axzon (Rfmicron), and others carefully assess their existing position in the Battery-free Wireless Sensors Market will be in a better position to make decisions that are in line with their long-term goals. In order to determine the organization's key strengths and areas for development, this critical assessment entails a detailed examination of the assets, competencies, and overall performance of the company.
January 2024: Acal BFi Netherlands BV and Atmosic Technologies have formed a strategic alliance with the aim of improving IoT breakthroughs and encouraging ecological sustainability by reducing reliance on hazardous battery technology. The goal of this partnership was to promote the creation of eco-friendly connected devices, which are essential for many uses, including wearables, remote controls, and beacons.
July 2023: Together with ASYGN, SAS, a French sensor and integrated circuit (IC) technology company, Identiv, Inc. announced the launch of the first sensory Tag on Metal (TOM) label, which makes use of ASYGN, SAS's cutting-edge AS321X IC platform. Utilizing ultra-high frequency (UHF) RFID technology, this label operates without a battery and is primarily designed to record temperature and strain information in metallic surroundings.