Wireless Sensors Market Size, Status and Precise Outlook 2021 to 2026 | Schneider Electric SE, Emerson Electric Co., Texas Instruments Incorporated, Siemens AG

MarketInsightsReports has published a report entitled Global Wireless 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 Wireless Sensors Market was valued at USD 4631.8 million in 2020 and is expected to reach a value of USD 17,215.17 million in 2026, registering a CAGR of about 24.2% during the period from 2021 to 2026.

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Key Players:

Honeywell International Inc., Schneider Electric SE, Emerson Electric Co., Texas Instruments Incorporated, Siemens AG, Interlogix Inc. (United Technologies Corporation), Point Six Wireless LLC (Mesa Laboratories Inc.), Pasco Scientific, Monnit Corporation, Phoenix Sensors LLC and others.

Key Market Trends

Energy and Power is Expected Witness Significant Growth

- Energy conservation is increasingly being essential to reduce power consumption and its associated costs for any enterprise and minimize the environmental impact, including a businesses environmental footprint. For improved energy conservation, accurate wireless sensor measurements are required in portable and stationary weather stations, wind energy systems, testing devices for diesel truck emissions, wind engineering concerning new building design aerodynamics, high-altitude weather research balloons, ocean research, water pollution devices, atmospheric studies, and smokestack mercury sampling.
- Zero power wireless sensors require energy processing low power management circuitry to monitor the transducer output power, store energy, and deliver power to the rest of the wireless sensor. Energy harvesting helps in powering wireless sensor networks in industrial apps. Advancements in low-power and reliable wireless communications, together with improvements in sensor and energy harvesting technologies, make it more practical and efficient to use this type of communications instead of a wired infrastructure.
- In April 2020, Schneider Electric announced the PowerTag system, the worlds smallest wireless energy sensor, to enhance the monitoring of electrical assets. Designed for a secure and compact connection to electrical devices and wireless communication, PowerTag provides monitoring and energy metering at the zone and load level. The PowerTag system is the newest addition to IoT-enabled EcoStruxure Power architecture. Designed for any building, PowerTag energy sensor monitors and measures current, voltage, power, power factor, and energy.
- Energy harvesting-based autonomous wireless sensor nodes are a convenient and cost-effective and solution. The utilization of energy harvesting removes one of the critical factors limiting the proliferation of wireless nodes. The scarcity of power sources has the characteristics necessary to deliver the energy and power to the sensor node for years without battery replacement. Significant economic advantages are realized when zero wireless power sensors are deployed vs. hard-wired solutions.

North America is Expected to Hold Major Share

- The application is currently driving North America's wireless sensors market in the end-user segment and environmental impact on sensors. Manufacturers in the region are focusing on investing in R&D activities to improve the accuracy and reliability of these wireless sensors. Wireless sensors are utilized in factory settings for data monitoring, the flow of production, and other similar functions, as well as in building automation, defense, and other industries, like material handling and food and beverage. The increasing need for new energy sources, renewable energy development, government regulations, and rapid technological advancements are the key drivers that make the wireless sensors market grow lucratively.
- Further, industry participants emphasize product differentiation to avoid price competition. North America, at present, is the largest market in the wireless sensors market. It accounts for around 35% market share of the wireless sensors market and is estimated to be the largest market during the forecast period. In February 2020, Kryton International Inc., a company known for innovative and valuable concrete technologies, launched its new Maturix smart concrete sensors. The Maturix smart concrete sensor is one of the first truly wireless concrete monitoring sensors in North America. Fully wireless, Maturix sensors engage in transmitting data to a user's internet-connected device anywhere globally.
- The region also has the highest adoption of automation and smart devices in almost every industry. Owing to a high rate of automation, the region is a dominant market for smart homes and smart offices. In comparison to the world, the region has also witnessed the highest adoption of wireless sensors for various industry verticals. With changing dynamics in the industry, automotive manufacturers are moving toward electric vehicle production to meet next-generation consumers' needs. The use of electric vehicles in the United States has risen rapidly, with an estimated 1% of automotive sales in the US market. This is set to significantly augment the demand for wireless sensors designed for automotive applications.
- In the healthcare sector, Canada is also expanding a significant growth over the years. The critical healthcare companies are actively seeking strategic expansions, which is expected to augment demand for wireless sensors. For instance, Siemens Healthineers AG recently announced the expansion of its manufacturing facility in Canada. The company has planned to offer a wireless solution that enables comprehensive blood analysis testing at the patient's side on a single room-temperature test card, resulting in less than a minute. With the ongoing concern about population health in the United States, the use of these sensors for health applications is expected to experience a real demand due to the increasing rate of chronic diseases in the country.

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

– Detailed overview of Wireless 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 Sensors Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.

Finally, the Wireless 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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