Wireless IoT Sensors Market Research Report: Information by Component (Hardware, Service and Software), Type (Image Sensor, Motion Sensor, Magnetometer, Humidity Sensor, Temperature Sensor, Touch Sensor, Accelerometer, Gyroscope, Flow Sensor and others) - Forecast till 2027
Pune, India - February 10, 2022 /MarketersMedia/ —
Wireless IoT Sensors Market Research Report- Forecast till 2027
Texas Instruments Incorporated follows both organic and inorganic approaches. The company lays emphasis on enhancing its product portfolio. It focuses on product development by investing in research and development to increase its revenue and market share. As a part of its inorganic growth strategy, Texas Instruments Incorporated is building strong corporate alliances and collaborating with domain experts. Additionally, the company acquired National Semiconductor, an American semiconductor manufacturer that specializes in analog devices and subsystems to maximizes profits.
STMicroelectronics strategizes to develop industry-leading products and solutions for various application areas that are expected to experience robust growth rates driven by long-term trends. Some such trends are the aging population and concentration in cities, ubiquitous connectivity, and the need for more energy efficiency across all end-use applications.
Global Wireless IoT Sensors Market is expected to be valued at USD 40,728.60 Million by 2025, with a CAGR of 32.87% during the forecast period (2019–2025).
The report covers segmentation and drivers for a better glimpse of the market in the coming years. Wireless IoT sensors are standard measurement tools that are equipped with transmitters to convert signals from process control instruments into a radio transmission. The main advantages of these sensors are increased safety, convenience, low cost, low-level maintenance, and a small amount of power to function. IoT devices are mainly used for collecting performance and environmental data from sensors attached to devices either by performing a rudimentary analysis in a proximity network close to the devices or by passing the data via some form of network to an on-premise enterprise or cloud platform.
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The Global Wireless IoT Sensors Market is segmented based on Type, Component, Technology, and Vertical. Based on component, the hardware segment dominates the global market. The segment includes a lighting control system, heating, ventilation, and air conditioning (HVAC), security & access control system, fire protection system, lighting control system, and others. These systems require enhanced accuracy, system activation, lower power consumption, data security, easy communication, detection of support-specific goals and actions. The selection of hardware is based on various criteria, such as resolution, conversion speed, power requirements, physical size, processor compatibility, and interface structure. Thus, the growing demand for electronics devices and an increase in the adoption of IoT further grows the demand for hardware for wireless IoT sensors.
By Type, the image sensors segment is expected to dominate the global market. The image sensors are light-sensitive devices that convert optical signals into electric signals for displaying or storing files electronically. Such sensors are used in standalone and embedded cameras and a few imaging devices, thermal imaging devices, biometric & IRIS devices, and night vision equipment. Image sensors provide the consumers with higher image quality, superior frame rate, dynamic range along with reduced noise, lower dark current, and low power dissipation.
By Technology, the WI-FI segment dominates the wireless IoT sensors market. The sensors help connect the devices through Wi-Fi. Wi-Fi technology can connect to various IoT devices and send temperature readings to Private EyePi, or other monitoring applications. This technology is used in various applications such as digital signages and indoor security cameras. Wi-Fi is used in multiple devices as it offers coverage, scalability, and power consumption. According to the Institute of Electrical and Electronics Engineers (IEEE), Wi-Fi technology is the most commonly used communication standard and operates in the 2.4-5GHz band.
Based on vertical, the industrial IoT segment dominates the global market. The industrial IoT segment includes industrial automation, energy, transportation, healthcare, and smart agriculture. Industrial applications, such as factory automation, compressors, hydraulics, and pneumatics, primarily involve the use of sensors for various processes. Sensors can detect physical, chemical, and biological signals and provide a suitable way to measure and record various physical parameters of the patient.
Geographic analysis of the global wireless IoT sensors market spans across North America, Europe, Asia-Pacific (APAC), and the rest of the world.
The market in Asia-Pacific is one of the significant markets for wireless IoT sensors owing to the presence of emerging economies, such as India and China, which is expected to raise the demand for wireless IoT sensors market and also expected to register highest CAGR during the forecast period. The advancements in IoT and wireless communication technologies in this region are expected to drive the growth of wireless IoT sensors market in countries such as China, India, and Japan. The growing industrial sector combined with an increasing presence of small and medium-sized enterprises (SMEs) in the region are some of the factors that are expected to drive the market growth.
In 2018, North America dominated with a value of USD 2,161.3 Million. The regional market value is expected to reach USD 11,587.7 Million by 2025, with an impressive 28.26% CAGR during the forecast period.
North America is one of the prominent markets in the global wireless IoT sensors market. The existing infrastructure and major players in this region provide the market in North America with various opportunities for significant growth in the forecast period. Moreover, the increase in the adoption of these sensors in industrial automation, medical, transportation, logistics & supply chain, and consumer electronics industries dominates the market. Furthermore, the rapid adoption of new technology in this region along with the focus on IoT applications, adds to the growth of wireless IoT sensors. In 2018, the regional market was valued at USD 2,161.3 Million, which is expected to reach USD 11,587.7 Million by 2025, with a 28.26% CAGR during the forecast period.
Some of the Key Industry Participants of the Global Wireless IoT Sensors Market are Texas Instruments Incorporated (US), STMicroelectronics (US), TE Connectivity (Switzerland), Infineon Technologies AG (Germany), Robert Bosch GmbH (Germany), Sony Corporation (Japan), HONEYWELL INTERNATIONAL INC. (US), NXP Semiconductors (Netherlands), Omron Corporation (Japan), TDK Corporation (Japan), Broadcom Inc. (US), Analog Devices, Inc. (US), Murata Manufacturing Co., Ltd (Japan), FUJITSU (Japan), and SmartThings Inc. (US).
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Name: Ehtesham Peerzade
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Organization: Market Research Future
Address: Market Research Future (Part of Wantstats Research and Media Private Limited)
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