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The Wireless Sensor Network by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Wireless Sensor Network, The wireless sensor network market size has grown rapidly in recent years. It will grow from $89.44 billion in 2023 to $104.66 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to emerging markets growth, an increasing demand for smart consumer devices and a rise in demand for remote monitoring.
The wireless sensor network market size is expected to see rapid growth in the next few years. It will grow to $201.1 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to government investments in government support, an increasing demand for electric vehicles, rising urbanization and an increasing internet penetration. Major trends in the forecast period include mergers and acquisitions, technological development, partnerships and collaborations, internet of things (iot) connectivity and product innovations.
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 from 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.
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The wireless sensor network market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Sensor Type: Ambient Light Sensors, Motion And Position Sensors, Temperature Sensors, Heart Rate Sensors, Pressure Sensors, Image Sensors, Other Sensor Types
3) By Connectivity Type: Wi-Fi, Bluetooth, Cellular Network, GPS/GNSS Module, Zigbee, NFC, WHART, ISA100, Other Connectivity Types
4) By End-Use Industry: Building Automation, Wearable Devices, Healthcare, Industrial, Automotive And Transportation, Other End-Users
Major companies in the wireless sensor network market are focused on developing new technological solutions to strengthen their position in the market. For example, in October 2021, Honeywell, a US-based conglomerate, unveiled an all-new aircraft cockpit system, the first in the industry built with an always-on, cloud-connected experience that improves flight efficiency, operations, safety and comfort. Honeywell Anthem is powered by a flexible software platform that can be customized for virtually every type of aircraft and flying vehicle, including large passenger and cargo planes, business jets, helicopters, general aviation aircraft, and the rapidly emerging class of advanced air-mobility (AAM) vehicles. Further, in June 2021, Salunda Limited, a UK-based offshore wireless network solution provider, launched the Hawk wireless sensor network to provide reliable and secure connectivity of critical production, operational and safety systems in the oil and gas industry. Offering the latest in robust standalone technology, the patent-protected Hawk network can accommodate more than 5,000 ultra-low power sensors as part of a fully integrated and functioning wide area network, providing real-time location and monitoring of people and equipment operating in hazardous environments.
The wireless sensor network market report table of contents includes:
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
5. Global Wireless Sensor Network Market Size and Growth
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26. South America Wireless Sensor Network Market
27. Brazil Wireless Sensor Network Market
28. Middle East Wireless Sensor Network Market
29. Africa Wireless Sensor Network Market
30. Wireless Sensor Network Market Competitive Landscape And Company Profiles
Top Major Players:
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