Worldwide Wireless Sensor Industry by 2026 – Energy and Performance [Applications/Conservation] We expect significant growth – ResearchAndMarkets.com |

DUBLIN – (BUSINESS WIRE) – Sept. December 2021–

The report “Wireless Sensor Market – Growth, Trends, Impact of COVID-19, and Forecasts (2021-2026)” has been added to the offering from ResearchAndMarkets.com.

The wireless sensor market was valued at $ 4,435.7 million in 2020 and is projected to reach $ 15,998.2 million in 2026, a CAGR of about 23.5% over the 2021-2026 period .

Mentioned companies

  • Honeywell International Inc.
  • Schneider Electric SE
  • Emerson Electric Co.
  • Texas Instruments Incorporated
  • Siemens AG
  • ABB Ltd.
  • Point Six Wireless LLC (Mesa Laboratories Inc.)
  • Pasco Scientific
  • Monnit Corporation
  • Phoenix Sensors LLC

Major market trends

Significant growth is expected for energy and electricity

  • Saving energy is becoming increasingly important to reduce electricity consumption and associated costs and minimize the environmental impact for any business, including a company’s ecological footprint. To improve energy savings, accurate wireless sensor measurements are needed in portable and stationary weather stations, wind turbines, test equipment for diesel truck emissions, wind technology related to new building design aerodynamics, altitude weather research balloons, marine research, water protection devices, atmospheric studies and chimney mercury samples.
  • Zero current wireless sensors require low-power energy-processing circuitry to monitor the output of the converter, store energy, and power the rest of the wireless sensor. Energy harvesting helps power wireless sensor networks in industrial apps. Advances in low-power and reliable wireless communication, along with improvements in sensor and energy harvesting technologies, make it more practical and efficient to use these types of communication rather than wired infrastructure.
  • Autonomous wireless sensor nodes based on energy harvesting are a convenient and inexpensive solution. The use of energy harvesting removes one of the critical factors limiting the proliferation of wireless nodes. The energy-saving properties of sensor nodes enable years of operation without changing the battery. Considerable economic advantages are realized when wireless zero-power sensors are used compared to hard-wired solutions.
  • Boilers and ovens are used in a variety of applications ranging from thermal power plants to residential heating systems. Optimizing the operation of boilers and stoves with wireless sensors can improve fuel efficiency. According to a researcher at UMass Lowell, a 1% improvement in boiler efficiency will result in approximately 30 billion kilowatt hours of energy savings, equivalent to about 300 billion cubic feet of natural gas and about 17 million tons of CO2 emissions saved.

Asia Pacific has the largest market share

  • The Asia-Pacific region is one of the largest regions in the electrical and electronics manufacturing market. The region is also a major supplier of wireless sensor technology, particularly in China and Japan.
  • China is also the world’s largest auto market and the world’s largest manufacturing base for automobiles, including electric cars, with great growth potential. According to the China Association of Automobile Manufacturers (CAAM), around 317,000 commercial vehicles were sold in China in September 2021. Sales in China accounted for around 32.56% of global motor vehicle sales. Around 0.25 million plug-in hybrids were sold in China in 2020, up from less than 0.1 million a few years ago.
  • With these industries making up a significant portion of the wireless sensor market, the region presents an excellent opportunity over the forecast period. The growing concept of connected cars and vehicle safety regulations are also expected to drive the adoption of wireless sensors in the region.
  • Another reason for the increased adoption of wireless sensors is the high level of activity in the region using these sensors to improve the growing IT healthcare market and innovate new healthcare equipment.
  • Yokogawa Electric Corporation recently announced the launch of the Sushi Sensor, an OpreX-branded wireless solution, in Japan. The sensor is a compact wireless device with integrated sensor and communication functions, which is intended for monitoring vibrations and surface temperatures of systems.

Key topics covered:

1 INTRODUCTION

2 RESEARCH METHOD

3 SUMMARY

4 MARKET INSIGHTS

4.1 Technology snapshot

4.2 Analysis of the industry’s value chain

4.3 Industry Attractiveness – Porter’s Five Forces Analysis

4.4 Technology snapshot

5 MARKET DYNAMICS

5.1 Market drivers

5.1.1 Increasing adoption of wireless technologies (especially in harsh environments)

5.1.2 Development of Smart Factory Concepts (Industrial Automation)

5.2 Market Challenges

5.2.1 Higher safety requirements and costs in connection with the sensor products

5.2.2 Cybersecurity concerns in the IoT space and recent developments

6 MARKET SEGMENTATION

6.1 Type

6.2 End user industry

6.3 geography

7 COMPETITIVE INTELLIGENCE

7.1 Company profiles

8 INVESTMENT ANALYSIS

9 THE FUTURE OF THE MARKET

Please visit https://www.researchandmarkets.com/r/dyxlej for more information on this report

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KEYWORD: ASIA PACIFIC

SECTOR KEYWORD: OTHER MANUFACTURING OTHER TRANSPORT TECHNOLOGY OTHER ENERGY TRANSPORT MANUFACTURING ENERGY HARDWARE SCIENCE OTHER SCIENCE

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 12/30/2021 4:56 a.m. / DISC: 12/30/2021 4:56 a.m.

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