Total sales in the global wireless sensors market are projected to top USD 5,876.3 million in 2022. With demand increasing at a stupendous 15.5% CAGR over the forecast period, the wireless sensors market value is anticipated to total USD 24,768 million by 2032.
| Report Attribute | Key Statistics |
|---|---|
| Wireless Sensors Market Expected Market Value (2022) | USD 5,876.3 Million |
| Wireless Sensors Market Anticipated Forecast Value (2032) | USD 24,768 Million |
| Wireless Sensors Market Projected Growth Rate (2022 to 2032) | 15.50% CAGR |
With the advent of Industry 4.0, the adoption of wireless sensors is increasing at a considerable pace. Wireless sensors offer a wide range of benefits, spanning from RFID and Bluetooth connectivity to easy integration of connected devices.
Sales of wireless sensors are rising in factory settings where data monitoring of production is critical. Applications of wireless sensors include building automation, defense, automotive, food and beverage, and retail.
In addition to this, increasing focus and investments in the development of new energy sources, along with rapid renewable energy development will fuel the adoption of wireless sensors across various countries.
Wireless sensors are a crucial component in smart grids for remote monitoring of transformers and power lines. These sensors monitor line temperature amid normal and harsh weather conditions. Thus, rising investments in smart grids in the energy sector will augment the wireless sensors market size.
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Increasing sales of IoT-connected devices such as wearables, smart speakers, and others are expected to drive demand for wireless sensors. Besides this, stringent government norms pertaining to workforce safety across industries such as mining, oil & gas, and energy transmission will boost the adoption of wireless sensors.
These sensors enable individuals to monitor and control the facility remotely. Wireless sensors are reliable components that are efficient, safe, and flexible, having the ability to monitor the usage, performance, and failure of machinery and other equipment autonomously.
High adoption of IoT in the building and construction sector will influence the wireless sensors demand outlook across various countries. Rising establishment of smart cities, buildings, and factories will fuel sales of wireless sensors as they are high precision, small in size, use less power, and control ambient parameters.
Wireless sensors are cost-effective as they have a low installation cost and cause minimal disruption to the interiors of the facility or the workforce. The installation of wireless systems needs no wiring or structural changes at the site.
Rising focus on energy conservation in the USA and Canada is expected to augment growth in the North America wireless sensors market over the forecast period. Energy conservation is vital for minimizing the environmental impact and carbon footprint.
Wireless sensors are used in the energy sector to accurately measure stationary and portable weather conditions, wind energy systems, weather stations, building design aerodynamics, and high-altitude weather research balloons.
They are also being utilized to monitor automotive emissions, water pollution devices, and smokestack mercury sampling. Further, sales of zero power wireless sensors are gaining momentum as they are required in energy processing low power management to monitor the output power and conserve energy.
Rapid advancements in low power and reliable wireless sensors will boost the adoption of wireless sensors in wired electrical infrastructure. Backed by the aforementioned factors, demand for wireless sensors across North America will account for 24.8% of the total wireless sensors market share in 2022.
As per FMI, total sales of wireless sensors in Europe are forecast to account for 21.7% of the global wireless sensors market share in 2022. Rising demand for wireless sensors in the healthcare sector in countries such as Germany, France, and Switzerland is expected to augment the growth in the market.
In addition to this, the presence of some of the key wireless sensor manufacturers across Europe will bode well for the market. For instance, in May 2021, Advantech launched an innovative certified wireless module for sensor-cloud connectivity for IoT. It is in a compact industry-standard form and does not require programming. Applications include cold chain and refrigerator monitoring, asset tracking, smart agriculture, smart street lighting, and smart waste management.
Amid rapid technological advancements in IoT, artificial intelligence (AI), and machine learning (ML), many players are aiming to improve their offerings to keep up with the growing demand. Innovation, creativity, and effective connectivity are some of the key areas of focus among emerging wireless sensor brands.
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Key wireless sensor manufacturers are investing in collaborations and partnerships with other service providers to launch application-specific wireless sensors. Through this, players are aiming to gain a competitive edge in the global wireless sensors market. Some recent developments include:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 15.50% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, End User, Connectivity, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | ABB; Adaptive Energy; Ambient Micro; Apprion; Aruba Networks; Atmel; BAE Systems; BSC Computer; Cardiomems; Chevron; Cymbet; Dust Networks; ELTAV; Ember; Emerson; Enocean; Gastronics; Greenpeak; Microstrain |
| Customization | Available Upon Request |
Sales of wireless sensors are forecast to surge at an impressive 15.50% CAGR over the forecast period.
North America will emerge as a lucrative pocket, holding 24.8% of the total wireless sensors market share in 2022.
Sales of wireless sensors increased at a 13.2% CAGR between 2016 to 2021.
| Estimated Size, 2024 | USD 17057.0 million |
|---|---|
| Projected Size, 2034 | USD 83047.5 million |
| Value-based CAGR (2024 to 2034) | 17.2% |
| Market Estimated Size (2022E) | USD 5.1 billion |
|---|---|
| Projected Market Valuation (2032F) | USD 23.3 billion |
| Value-based CAGR (2022 to 2032) | 16.5% |
| Expected Market Value (2023) | USD 4.95 billion |
|---|---|
| Anticipated Forecast Value (2033) | USD 16.8 billion |
| Projected CAGR (2023 to 2033) | 13% |
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