Wireless Temperature Sensors Market 2021 Industry Size, Share, Trend Technology, Global Key Players | 2026 Forecast

MarketInsightsReports has published a report entitled Global Wireless Temperature Sensors Market Research Report 2021 that is a detailed observation of several aspects, including the rate of growth, technological advances and various strategies implemented by the main current market players. The report is based on a collective analysis of data, which is obtained through primary and secondary research. It provides a systematic approach to the current and prospective scenario of this market.

The global wireless temperature sensors market was valued at 16.06 million units in 2020 and expected to reach 24.93 million units by 2026 and grow at a CAGR of 7.7% over the forecast period (2021-2026).

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Key Players:

ABB Ltd, Schneider Electric SE, Emerson Electric Co., Analog Devices Inc., NXP Semiconductors NV, Honeywell International Inc., Siemens AG, Texas Instruments Incorporated, Yokogawa Electric Corporation, Microchip Technology Inc. and others.

Key Market Trends

Building Automation Sector Expected to Hold Significant Share

- Sensor technology is becoming an integral part of the smart, green, and energy-efficient buildings. In building automation, many current designs can adjust for occupancy and compensate for the external conditions, such as outside air temperature.
- The integrated building solution system with wireless temperature sensors accesses control to share information and strategies to reduce energy consumption, improve energy efficiency management, and provide value-added functionality. This factor increases energy and operational efficiency and provides a level of occupant control unmatched by single- purpose and non-integrated systems.
- Globally, due to the increasing government regulations across developed and developing countries, most of the buildings need smarter heating and cooling. The wireless temperature sensors are used in smart home devices to monitor physical and environmental conditions, such as temperature, to pass the data in a structured manner through the network to the primary location. So the growth in smart home devices is directly impacting the growth of the wireless temperature sensors market.
- European standards, like PD 6662 that set standards for intruder and hold-up alarm systems (I&HAS) in buildings, are also aiding in the installation of smart solutions. In India, the penetration of the smart home is expected to increase to almost 10% by the end of 2023 from 0.8% in 2018, which includes expansion of smart home technologies, such as control, connectivity, and other smart appliances.
- Furthermore, the integration of wireless technologies into building control provides significant simplification in wiring requirements for reducing maintenance complexity and setup costs. Some of the prominent players, such as Honeywell International Inc. and Texas Instruments Inc., are developing their wireless temperature sensor module that can be easily integrated across the smart building automation systems.

North America is Expected to Hold a Major Share

- Adopting smart factories, intelligent manufacturing, and the presence of multiple industrial wireless temperature sensor manufacturers and system integrators in the different parts of North America are expected to drive growth in the market.
- In North America, the 5G adoption initiative has made it possible for temperature sensor network to transfer multimedia files at a fast rate and enable MIMO (Multiple Input Multiple Output) networking capabilities. Furthermore, avoiding wired sensors and replace them with wireless temperature sensors in commercial spaces result in reduced maintenance and increased space availability.
- For instance, In the United States, existing wireless technologies in the communication industry, such as the IEEE 802.15.4 communication protocol with reduced power consumption by continuous investment in strengthening the 5G adoption, MIMO communication, and industry 4.0 capabilities are expected to create a supportive ecosystem for the market players.
- The adoption of smart homes integrated with HVAC equipment is expected to witness rapid growth in the future, giving rise to the increased adoption of wireless temperature sensors. In various countries, like China, India, and the United States (twelve of the top 50 smart cities are located in the United States), the demand for such sensors is expected to grow.
- Additionally, the end-user industrys readiness for the adoption of new technology in the North America region is expected to present the market vendors the potential opportunities for the growth in the wireless temperature sensors market.

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Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Wireless Temperature Sensors Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Wireless Temperature Sensors Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.

Finally, the Wireless Temperature Sensors Market report is the believable source for gaining Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and Market development rate and figure, and so on. This report additionally Present a new task SWOT examination, speculation attainability investigation, and venture return investigation.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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