Press release
Wireless Sensor Network Market Size, Latest Trends, Growth And Forecast 2024-2033 | Key Players: NXP Semiconductors N.V., Texas Instruments Inc, Emerson Electric Co, STMicroelectronics N.V., Infineon Technologies AG
Wireless Sensor Network Market Report
The Business Research Company presents an extensive market research report on the Wireless Sensor Network Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The wireless sensor network market size has grown rapidly in recent years. It will grow from $89.44 billion in 2023 to $104.66 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to emerging markets growth, an increasing demand for smart consumer devices and a rise in demand for remote monitoring.
The wireless sensor network market size is expected to see rapid growth in the next few years. It will grow to $201.1 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to government investments in government support, an increasing demand for electric vehicles, rising urbanization and an increasing internet penetration. Major trends in the forecast period include mergers and acquisitions, technological development, partnerships and collaborations, internet of things (iot) connectivity and product innovations.
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Key Market Players:
Major companies operating in the wireless sensor network market report are NXP Semiconductors N.V., Texas Instruments Inc, Emerson Electric Co, STMicroelectronics N.V., Infineon Technologies AG, Analog Devices, TE Connectivity Ltd, Cisco Systems Inc, Siemens AG, ABB Ltd, pureLiFi. Private Company, BAE SYSTEMS PLC, Nikola Labs, OpenSignal, IntelliSense.io, SONAS Technology, Monnit, Holykell Technology Company Limited, Hansi Technology (shenzhen) Co. Ltd, Acrel E-Business (Shanghai) Co. Ltd, Bengbu SUNMOON Instrument Research Institute Co. Ltd, Foshan SCS Medical Instrument Co. Ltd, Ningbo Haishu Kaiau Electronics Co. Ltd, Anhui Ronds Science & Technology Incorporated Company, SPIRENT COMMUNICATIONS PLC, UR Group Ltd, Adaptive Wireless Solutions Ltd, TEKTELIC, Sigfox, Acceco, Networks Pl, SiliconBrane, Parker Hannifin Corporation, Aretas Sensor Networks Inc, Intel Corporation, TeleSense, Synaptics, Semtech Corporation, Eleven-X, NOVUS Automation Inc, DEV Tecnologia, Adperc Representações Comerciais Ltda, Claro Chile, VackerGlobal, VISIO AE, IoT Plus Middle East for Control Equipment LLC, SENSOR NETWORKS (PTY) LTD, Security Management Services, HOPE MicroElectronics, Powalert
Market Drivers:
The increasing demand for smart consumer devices is expected to propel the growth of the wireless sensor network market. The demand for smart consumer devices is growing due to comfort, convenience, ease of use, automation, affordability, security, and other reasons that make people's lives better. This increasing demand for smart consumer devices will create demand for the wireless sensor network as it is one of the technologies used to make consumer devices smart and intelligent by using IoT and automation. The wireless sensor networks address needs such as remote home monitoring and the general public's growing concern about safety, security, and convenience. For instance, according to a survey by Oberlo, a Lithuania-based software company, in 2022, nearly 57.4 million US households are actively using smart home devices, which is a 6.7% increase from 2021, during which 53.8 million households were using smart home devices. Thus, the increasing demand for smart consumer devices will drive the growth of the wireless sensor network market.
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https://www.thebusinessresearchcompany.com/report/wireless-sensor-network-global-market-report
The wireless sensor network market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Sensor Type: Ambient Light Sensors, Motion And Position Sensors, Temperature Sensors, Heart Rate Sensors, Pressure Sensors, Image Sensors, Other Sensor Types
3) By Connectivity Type: Wi-Fi, Bluetooth, Cellular Network, GPS/GNSS Module, Zigbee, NFC, WHART, ISA100, Other Connectivity Types
4) By End-Use Industry: Building Automation, Wearable Devices, Healthcare, Industrial, Automotive And Transportation, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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