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Wireless Sensor Network Global Market Report 2023


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.

New York, March 08, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Wireless Sensor Network Global Market Report 2023" -
, 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 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The wireless sensor network market is expected to grow to $172.14 billion in 2027 at a CAGR of 18.0%.

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.

For instance, In September 2020, Eleven-X, a Canadian information technology company specializing in wireless technology and connectivity, introduced its innovative, wireless, real-time smart parking sensor, SPS-X.It uses a LoRaWAN-based (long-range wide area network) sensor with a combination of magnetic, radar, and Bluetooth technologies in addition to cloud-based AI for reliable, real-time guidance to available spaces, space usage, and time of usage information.

This sensor is helpful for municipalities, campuses, and parking organizations to monitor parking occupancy and understand parking usage.

In March 2020, TE Connectivity Ltd., a Swiss manufacturer of sensors and connectors acquired First Sensor AG for an undisclosed amount. With this acquisition, TE Connectivity expands its operations with optical sensing applications for heavy truck, auto, and industrial uses as well as further expand its capabilities. First Sensor AG is a German manufacturer of sensor and wireless network products across various medical, transportation, and other industries.

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.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The wireless sensor network market research report is one of a series of new reports that provides wireless sensor network market statistics, including wireless sensor network industry global market size, regional shares, competitors with a wireless sensor network market share, detailed wireless sensor network market segments, market trends and opportunities, and any further data you may need to thrive in the wireless sensor network industry. This wireless sensor network market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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