Enjoy complimentary customisation on priority with our Enterprise License!
The wireless sensors market size is projected to increase by USD 28.87 billion at a CAGR of 18.02% between 2023 and 2028. The market's growth rate hinges on various factors, such as the rising adoption of Industry 4.0, the emergence of self-driven car technology, and the increasing demand for IoT devices equipped for residential applications. These factors collectively shape market dynamics, reflecting the ongoing technological advancements and changing consumer preferences driving the market forward. With a focus on innovation and connectivity, the market anticipates sustained growth opportunities in the coming years.
Moreover, the market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 20 market companies, including ADT Inc., Advantech Co. Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Infineon Technologies AG, Koninklijke Philips N.V., Laird Connectivity, Legrand SA, Libelium Comunicaciones Distribuidas SL, Lutron Electronics Co. Inc., Microchip Technology Inc., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Schneider Electric SE, Sensata Technologies Inc., Siemens AG, Somfy SA, STMicroelectronics International NV, TE Connectivity Ltd., Texas Instruments Inc., Yokogawa Electric Corp., and Broadcom Inc.. Additionally, ABB Ltd. company offers wireless sensors such as WIOP208 8DC, WSIX100 B50N, and WSIX 100 B50NF.
For More Highlights About this Report, Download Free Sample in a Minute
The market is witnessing rapid growth, driven by the increasing adoption of industrial monitoring and diagnostics solutions. These sensors, including battery-operated motes and sensor nodes, are integrated into various applications, from smart and wearable devices to smart grids and smart cities. They facilitate data monitoring and transmission through a wireless network, enabling remote monitoring of critical infrastructure such as transformers. With the rise of electric cars and self-driving cars, the demand for zero-power wireless sensors is expected to surge, particularly in the energy sources and renewable energy sectors. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Increasing adoption of Industry 4.0 is the key factor driving the market. Industry 4.0 aims to create smart factories in which machines, systems, and processes communicate and collaborate in real time, resulting in increased efficiency, productivity, and data-driven decision-making. They play an important role in this transformation, providing the connectivity and real-time data required for smart manufacturing. Further, wireless sensors are used throughout the manufacturing process to monitor and collect data on parameters such as temperature, humidity, pressure, and equipment status. These sensors enable predictive maintenance, optimize energy usage, increase overall equipment efficiency (OEE), and allow for quick response to changes in production conditions.
Furthermore, major market players capitalize on the industry 4.0 trend, including Siemens AG, ABB Ltd, Bosch Connected Devices and Solutions GmbH (Robert Bosch GmbH). The aforementioned market players demonstrate the integration of wireless sensor technologies into Industry 4.0 solutions, establishing themselves as key players in the evolving landscape of smart manufacturing. Thus, the increasing relevance of Industry 4.0 in many end-user industries, like the manufacturing industry, is anticipated to fuel market growth during the forecast period.
Emerging wearable technologies is the primary trend shaping the market. Wearable devices have become increasingly popular as a means of improving people's quality of life around the world. Wearable technologies are essentially mobile forms of communication technology that can be attached to a body part and used to track daily activities in addition to providing communication services. It includes smartwatches, smart glasses like Google Glass, smart fabrics, heart rate monitors, and fitness trackers like the Fitbit Surge. Magnetic sensor manufacturers, including Infineon Technologies AG, have begun developing micro-electromechanical systems (MEMS) sensors to support wearable technologies.
Furthermore, rapid advances in biomedical sensors, low-power electronics, and wireless communications have allowed end-users in the healthcare industry to improve healthcare monitoring. The sensors also monitor the weather and air pollutants, providing data on respiratory distress in the community. This has enabled physicians to assess individual health risks accurately. These factors will accelerate market growth during the forecast period.
Growing issues in delivering high-quality networks at low cost is the major challenge that affects the market expansion. One of the primary challenges is the cost of manufacturing components required for advanced wireless sensors, such as precision sensors, dependable communication modules, and efficient processors, which affects the overall cost-effectiveness of deploying sensor networks. Additionally, the deployment and maintenance costs of wireless sensor networks, particularly in large-scale applications, add to economic challenges, necessitating significant infrastructure investments and ongoing maintenance efforts.
Furthermore, compliance with evolving regulatory standards and a shortage of skilled professionals proficient in wireless sensor technologies complicate matters. To ensure the cost-effective integration of wireless sensor networks, industry stakeholders, legislators, and research institutions must work together to overcome these obstacles, thereby unlocking their potential for efficient data collection, real-time monitoring, and informed decision-making across multiple sectors. Sensors for industrial automation require careful engineering, hand wiring, and expensive components. Thus, such challenges will hamper market growth during the forecast period.
The market is experiencing significant growth, driven by the demand for industrial monitoring and diagnostics solutions. These sensors, such as battery-operated motes, utilize a wireless network to transmit data from various applications, including smart homes and hydraulic brakes. They are integral components of smart and wearable devices and enable remote control functionalities, particularly in PC peripherals and RFID systems.
The market share by the building automation segment will be significant during the forecast period. Building automation systems (BASs) employ wireless sensors to monitor and regulate HVAC, lighting, security, and energy consumption. Honeywell International Inc. offers wireless thermostats for precise HVAC control, while Philips Hue provides motion sensors for lighting adjustments.
Get a glance at the market contribution of various segments Download the PDF Sample
The building automation segment showed a gradual increase in the market share of USD 3.44 billion in 2018. Companies like Lutron integrate wireless light sensors for energy-efficient lighting control. ADT Inc. incorporates wireless sensors for security and access control. Wireless technology extends to smart blinds by vendors like Somfy. Siemens AG offers wireless building energy management solutions, and Netatmo provides wireless air quality monitors. These applications highlight wireless sensors' versatility in enhancing building automation and promoting energy efficiency and occupant well-being. The expanding demand for building automation will drive the market growth.
The hardware?segment will account for the largest share of this segment.?Wireless sensor hardware comprises sensing elements, processing units, communication modules, and power sources. Sensing elements detect physical phenomena like temperature, humidity, and pressure. Processing units convert raw data into useful information, while communication modules transmit data wirelessly using protocols like Bluetooth and Zigbee. Power comes from batteries or energy harvesting systems. Enclosures protect components from environmental hazards, and antennas enable signal transmission. These components drive the growth of the market during the forecast period.
For more insights on the market share of various regions Download the PDF Sample now!
North America is estimated to contribute 30% to the growth of the global market during the forecast period.
Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. North America, particularly the US, dominated the market in 2023, driven by its robust manufacturing sector and widespread adoption of IoT across industries like power generation, automotive, and healthcare. The region's focus on industrial automation and smart infrastructure development, supported by government initiatives like the USMCA, is expected to fuel market growth. Reshoring manufacturing and the establishment of smart factories will further drive demand and growth of the market in North America.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Analog Devices Inc.: The company offers wireless sensor solutions which consist of spatially distributed autonomous sensors to monitor physical or environmental conditions, such as temperature, sound, vibration, pressure, humidity, motion, or pollutants.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028
The market is booming with innovations like Bluetooth Smart and Wireless Fidelity (Wi-Fi). From motion and position sensors to LED sensors, they're revolutionizing home building, automation, and smart transportation. These sensors play critical roles in military surveillance, machine monitoring, and patient monitoring, ensuring workforce safety in sectors like mining and oil & gas. With battery-free and ultra-wideband (UWB) proximity sensor, companies like Everactive and Vicotee are leading the charge in IoT solutions, offering low power management and collaborations with industry giants.
Additionally, the market is expanding rapidly with innovations such as Bluetooth Smart, CMOS based sensors, and zero power wireless sensors. From remote controls to smart speakers, these sensors are integral to IoT-connected devices and wearables. They play crucial roles in smart agriculture, smart street lighting, and smart waste management, reducing carbon footprint. Companies like aurora sensor and Vicotee are leading the charge, offering solutions for refrigerator monitoring and energy transmission in diverse sectors worldwide.
Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.02% |
Market Growth 2024-2028 |
USD 28.87 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
17.06 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 30% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., ADT Inc., Advantech Co. Ltd., Analog Devices Inc., Emerson Electric Co., General Electric Co., Honeywell International Inc., Infineon Technologies AG, Koninklijke Philips N.V., Laird Connectivity, Legrand SA, Libelium Comunicaciones Distribuidas SL, Lutron Electronics Co. Inc., Microchip Technology Inc., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Schneider Electric SE, Sensata Technologies Inc., Siemens AG, Somfy SA, STMicroelectronics International NV, TE Connectivity Ltd., Texas Instruments Inc., Yokogawa Electric Corp., and Broadcom Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.