Global Wireless Sensor Network Market Report 2023: Increasing Demand for Smart Consumer Devices Drives Growth
Global Wireless Sensor Network Market
Dublin, March 16, 2023 (GLOBE NEWSWIRE) -- The "Wireless Sensor Network Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global wireless sensor network market grew from $75.54 billion in 2022 to $88.76 billion in 2023 at a compound annual growth rate (CAGR) of 17.5%. The wireless sensor network market is expected to grow to $172.14 billion in 2027 at a CAGR of 18.0%.
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Major players in the wireless sensor network market are ABB Ltd., Siemens AG, ST Microelectronics, NXP Semiconductors, General Electric Company, Emerson Electric Co, Analog Devices, Honeywell International Inc., Cisco Systems Inc., Texas Instruments Incorporated, TE Connectivity, Yokogawa Electric Corporation, Radiocrafts AS, Silicon Laboratories, Parker Hannifin Corp, Huawei Technologies Co Ltd., Advantech Co Ltd and Eurotech.
The wireless sensor network market consists of revenues earned by entities by providing wireless sensor network solutions and services such as target tracking, control, and monitoring, node location, synchronization, and effective routing between nodes and base stations to enhance the collection, process, and transfer of data in an organization.
The market value includes the value of related goods sold by the service provider or included within the service offering. The wireless sensor network market also includes sales of sensing units, processing units, communication units, and power units.
Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The wireless sensor network refer to a wireless system with wireless infrastructure deployed in a large number across various verticals. It is a network of small devices called sensors that communicate wirelessly among themselves in an ad-hoc manner. Wireless sensor networks can monitor the system and physical or environmental conditions. It is a spatially distributed sensor network that sends information to the sink node, then transfers it to the end-user.
North America was the largest region in the wireless sensor network market in 2022. The regions covered in the wireless sensor network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components in the wireless sensor network market are hardware, software and services. The wireless sensor network hardware refer to physical components used in a wireless sensor network. The hardware components of a wireless sensor network include a processing unit, a transceiver unit, a sensing unit, and a power unit.
These components work together to perform the desired action. The various types of sensors include ambient light sensors, motion and position sensors, temperature sensors, heart rate sensors, pressure sensors, IMUS (6-axis, 9-axis), accelerometers (3-axis), blood glucose sensors, image sensors, humidity sensors, carbon monoxide sensors, blood oxygen sensors, flow sensors, level sensors, chemical sensors, ECG sensors and others (MRR, ultrasonic sensors, vehicle detection sensors, pedestrian presence sensors, speed sensors, soil moisture sensors).
The different wireless sensor network connectivity type include WI-FI, Bluetooth, Bluetooth/WLAN, cellular network, GPS/GNSS module, Bluetooth smart/BLE, Zigbee, NFC, WHART, ISA100 and ANT+. The end-users for wireless sensor networks include building automation, wearable devices, healthcare, industrial, automotive and transportation, oil and gas, retail, agriculture, aerospace and defense and BFSI.
The increasing demand for smart consumer devices is expected to propel the growth of the wireless sensor network market. The demand for smart consumer devices is growing due to comfort, convenience, ease of use, automation, affordability, security, and other reasons that make people's lives better.
This increasing demand for smart consumer devices will create demand for the wireless sensor network as it is one of the technologies used to make consumer devices smart and intelligent by using IoT and automation. The wireless sensor networks address needs such as remote home monitoring and the general public's growing concern about safety, security, and convenience.
For instance, according to a survey by Oberlo, a Lithuania-based software company, in 2022, nearly 57.4 million US households are actively using smart home devices, which is a 6.7% increase than in 2021, during which 53.8 million households were using smart home devices. Thus, the increasing demand for smart consumer devices will drive the growth of the wireless sensor network market.
Innovation in sensor technologies is a key trend gaining popularity in the wireless sensor network market. The use of sensor proliferation, sensor fusion, magnetic, radar, and Bluetooth technologies along with artificial intelligence (AI) continues to accelerate innovation as it improves IoT security, and sensor proximity making it safer to transmit critical data. This improves remote operation capabilities while incorporating sensors into devices to reduce costs and improve performance.
Major companies operating in the wireless sensor network market are focused on providing innovative wireless sensors to strengthen their market position.
The countries covered in the wireless sensor network market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
No. of Pages
2023 - 2027
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. Wireless Sensor Network Market Characteristics
3. Wireless Sensor Network Market Trends And Strategies
4. Wireless Sensor Network Market - Macro Economic Scenario
4.1. COVID-19 Impact On Wireless Sensor Network Market
4.2. Ukraine-Russia War Impact On Wireless Sensor Network Market
4.3. Impact Of High Inflation On Wireless Sensor Network Market
5. Wireless Sensor Network Market Size And Growth
5.1. Global Wireless Sensor Network Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Wireless Sensor Network Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Wireless Sensor Network Market Segmentation
6.1. Global Wireless Sensor Network Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.2. Global Wireless Sensor Network Market, Segmentation By Sensor Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Ambient Light Sensors
Motion And Position Sensors
Heart Rate Sensors
IMUs (6-Axis, 9-Axis)
Blood Glucose Sensors
Carbon Monoxide Sensors
Blood Oxygen Sensors
6.3. Global Wireless Sensor Network Market, Segmentation By Connectivity Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.4. Global Wireless Sensor Network Market, Segmentation By End-User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Automotive & Transportation
Oil and Gas
Aerospace & Defense
7. Wireless Sensor Network Market Regional And Country Analysis
7.1. Global Wireless Sensor Network Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Wireless Sensor Network Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/vd3mlo
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