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Technavio’s market research analysts predict the global wireless sensor market to attain a CAGR of a little over 20% during the forecast period. Though the adoption of wireless is slow, the market is gaining traction. The list of competitors in the wireless sensors and networks market is long, and most of the vendors are a part of the ZigBee Alliance. It is majorly the automation sector that is at the forefront of developing wireless monitoring and control products.
The operation of multiple networks at the same time creates signal interference. This makes security the biggest concern with interference being from normal or outside sources. To overcome these concerns, the larger players in the market are investing more in R&D to solve the security concerns, and thereby improve the market adoption in the coming years.
The use of biosensors in healthcare applications is expected to grow significantly. It will be used to understand and monitor patient's diseases and their health. It will emerge as a patient critical tool for monitoring the health of a growing aged population in developed countries. It will also gain prominence in areas such as drug delivery and measurement as per the report.
The industrial segment is the largest contributor in terms of revenue to the wireless sensors market. This sector has used these sensors for a while, but in recent times, the market has gained some more momentum, thanks to a growing number of SMEs integrating sensors for their operations.
These sensors have made the manufacturing process easier and more efficient. Optimization of technology in wireless sensors means that there will be an improvement in product development and service provision processes. The use of wireless sensors in the industry includes environment sensing, condition monitoring and process automation. The industrial segment emerged as the largest contributor of this market with about 46% of the market share, in 2014.
The market is still in its infancy, and the adoption of this technology is largely restricted to developed regions such as Western Europe, North America, and in developed regions of Asia such as Australia, Japan, South Korea and China.
A majority of the market vendors are based out of North America or South Korea and Japan. Competition is high in the market as there is no major player in the market. The potential of the market is very high with the implementation of the internet of things.
Ambient Micro, Aruba Networks, Atmel, BAE, Bosch, Cisco Systems, Draegerwerk, Dust Networks, EnOcean, Freescale, Gastronics, Industrial Scientific, Microsemi, Microstrain Sensing Systems, Mitsubishi Electric, OmniVision, OMRON, Rockwell Collins, Schneider, Silicon Laboratories, STMicroelectronics , Thermo Fisher Scientific, and Vishay Precision Group.
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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