Wireless Flow Sensors Market 2019 Key Trends and Major Players - ABB, STMICROELECTRONICS, TEXAS INSTRUMENTS INCORPORATED, EMERSON ELECTRIC, HONEYWELL INTERNATIONAL, SCHNEIDER ELECTRIC SE, DELTATRAK

The wireless flow sensors market was valued at USD 0.46 billion in 2017, and is expected to reach a value of USD 1.62 billion by 2023, projecting a CAGR of 22.37%, during the forecast period (2018 - 2023). The market is segmented by technology Bluetooth, zigbee, RFID, Wi-Fi, WLAN and Enocean and the applications segment is limited to water and waste water management, power generation, chemical and petrochemical. The regions considered in the scope of the report include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Increasing Adoption of Wireless Technologies will drive the Market Growth
Wireless sensors are proving to be advantageous over wire line, with wider range of features and compatibility, and faster response and lower power consumption. Growing investments by leading players and demand for wireless technologies from end-user industries are supporting the market. With growing number of companies moving toward wireless, the production costs are also declining, thereby enabling wider consumption in the market. However, lack of awareness and capital in developing markets and strong foothold of wire line sensors in traditional markets, are acting as restraints to the growth of wireless sensors, with many consumers being skeptical over the adoption of new technologies.

Key Developments in the Market
January 2017 - Honeywell had launched a new Bluetooth-enabled fixed gas detector, Sensepoint XCL, for commercial and light industrial applications, enabling users to easily set up and maintain the device using a simple smartphone app. The Sensepoint XCL is a wall-mounted device that monitors for hazardous levels of specific gases, such as carbon monoxide, ammonia or methane, keeping operations and employees safe

The major players include –
ABB LTD., STMICROELECTRONICS, TEXAS INSTRUMENTS INCORPORATED, EMERSON ELECTRIC CO., HONEYWELL INTERNATIONAL INC., SCHNEIDER ELECTRIC SE, ENDRESS+HAUSER SA, DELTATRAK, ELCTROCHEM, SIEMENS AG and GENERAL ELECTRIC CO., amongst other.

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Water and Wastewater Management Segment Is the Largest Market
With water scarcity becoming one of the major challenges faced by many countries, the investments in this industry are expected to surge over the forecast period. This is expected to influence the demand for wireless flow meters market. Industrial growth in developing nations has also been identified as one of the driving factor for the market. With new industrial establishments and growing investments in emerging nations, the market for flow meter in countries, like China, India, and Israel, etc. is expected to witness high growth during the forecast period.

North America has a Major Market Share
The United States is the largest consumer of Wireless flow sensors in North America. Wireless flow sensors occupy a major share in the United States with significant demand from water and wastewater industry. The market in United States region is driven by technology with consumers preferring products offering latest technology with reliable performance. Thus, flow meters are becoming extremely popular among the end-users in this country. With many large companies being established players in the market, United States remains one of the prominent regions for wireless flow sensors market in the globe.

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