Wireless Sensor Network Market 2023-2032: Recent Trends, Global Outlook, Future Scope And Major Players | NXP Semiconductors N.V., Texas Instruments Inc, Emerson Electric Co, STMicroelectronics N.V., Infineon Technologies AG

As per The Business Research Company's Wireless Sensor Network Opportunities And Strategies Market Report 2023, The global wireless sensor network market reached a value of nearly $76,466.73 million in 2022, having grown at a compound annual growth rate (CAGR) of 16.9% since 2017. The market is expected to grow from $76,466.73 million in 2022 to $167,069.56 million in 2027 at a rate of 16.9%. The market is then expected to grow at a CAGR of 19.0% from 2027 and reach $399,463.02 million in 2032.

During the forecast period, the increasing demand for electric vehicles will support the growth of the wireless sensor network market. The wireless sensors are used to manage engine control systems, air conditioners, power windows, braking, headlights, and steering. For example, in October 2022, according to the World Economic Forum, a Switzerland-based international non-governmental and lobbying organization, around 4.3 million new battery-powered electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold globally in the first half of 2022. BEV sales grew by 75% on the year and PHEVs by 37%. Additionally, in July 2022, according to Times of India, an India-based English-language daily newspaper and digital news media company, retail sales of electric vehicles (EVs) clocked 390,399 units in the first half (1H) of 2022. This represents a 333% year-over-year (YoY) growth compared to the 90,102 units sold in the same period in 2021. Therefore, the increasing demand for electric vehicles is expected to propel the growth of the wireless sensor network market during the forecast period.

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Companies in the wireless sensor network market are increasingly focusing on mergers and acquisitions to improve their financial strength and product portfolio. For example, in October 2022, Cellnex, a UK-based wireless telecommunications infrastructure and services company, acquired Herbert In-Building Wireless (HiBW), a UK-based indoor cellular connectivity provider. With the acquisition, Cellnex UK's indoor connectivity business will grow, and a new Cellnex firm will be founded. The acquisition indicates Cellnex UK's aim to advance its business model beyond that of a conventional TowerCo and become the top supplier of wireless. Further, in April 2021, austriamicrosystems AG (ams AG), an Austrian electronics company that designs and manufactures sensors for the small form factor, low power, highest sensitivity and multi-sensor applications, acquired OSRAM Licht AG, a German company that makes electric lights, a high-tech photonics company that is increasingly focusing on sensor technology, visualization and treatment by light. The acquisition supports ams' focus on product development with the incredible breadth of Osram's patent portfolio across emerging Light Detection and Ranging (LiDAR), microLED and Vertical-cavity surface-emitting laser (VCSEL) technologies.

The top opportunities in the wireless sensor network market segmented by component will arise in the hardware segment, which will gain $37,639.3 million of global annual sales by 2027. The top opportunities in segment by sensor type will arise in the other sensor types segment, which will gain $38,135.0 million of global annual sales by 2027. The top opportunities in segment by connectivity type will arise in the Wi-Fi segment, which will gain $23,765.2 million of global annual sales by 2027. The top opportunities in segment by end-user industry will arise in the building automation segment, which will gain $28,257.9 million of global annual sales by 2027. The wireless sensor network market size will gain the most in the USA at $27,321.2 million..

Wireless Sensor Network Market Segmentation:
The Wireless Sensor Network Market is segmented by component, by sensor type, by connectivity type and by end-user Industry.
By Component-
The wireless sensor network market is segmented by component into
a) Hardware
b) Software
c) Services
By Sensor Type -
The wireless sensor network market is segmented by sensor type into
a) Ambient Light Sensors
b) Motion And Position Sensors
c) Temperature Sensors
d) Heart Rate Sensors
e) Pressure Sensors
f) Image Sensors
g) Other Sensor Types

Major players in the Wireless Sensor Network Market include NXP Semiconductors N.V, Texas Instruments Inc, Emerson Electric Co, STMicroelectronics N.V., Infineon Technologies AG

The regions covered in the global Wireless Sensor Network Market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Wireless Sensor Network Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Wireless Sensor Network Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
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17. Africa Market
18. Competitive Landscape And Company Profiles
19. Company Profiles
20. Key Mergers and Acquisitions
21. Future Outlook and Potential Analysis

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