New York, US, June 23, 2021 (GLOBE NEWSWIRE) -- Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Wireless IoT Sensors Market - Information by Component, Type and Technology - Forecast till 2027” the market is expected to achieve USD 40,728.60 Mn by 2025, at a 32.87% CAGR by 2025
Market Scope:
By offering various cloud platforms, connectivity & MQTT, CoAP protocol support, and IoT sensing devices can facilitate and simplify big data acquisition applications in the IoT era. The COVID-19 outbreak has positively impacted the wireless IoT sensors industry. With increasing transformations in the IT & telecom sectors, digital transformations across industries, and the downward global economy contributed to the market upend.
Many organizations have digitized their business processes, including supply chain & product management, sales & marketing, and others. The wireless IoT sensors market is witnessing a constant uptick over the past few months. Also, solution providers are fostering R&D investments to develop wireless technologies, IoT sensors, and 5G-enabled IoT solutions.
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Dominant Key Players on Wireless IoT Sensors market covered are:
- NXP Semiconductors (Netherlands)
- Honeywell International Inc. (US)
- Omron Corporation (Japan)
- Broadcom Inc. (US)
- TDK Corporation (Japan)
- Analog Devices Inc. (US)
- FUJITSU (Japan)
- Murata Manufacturing Co. Ltd (Japan)
- SmartThings Inc. (US)
- STMicroelectronics (US)
- Texas Instruments Incorporated (US)
- TE Connectivity (Switzerland)
- Robert Bosch GmbH (Germany)
- Infineon Technologies AG (Germany)
- Sony Corporation (Japan)
Market USP exclusively encompassed:
Market Drivers
The global wireless IoT sensors market is proliferating, heading with the vast advances in wireless technologies suitable for IoT applications. Increasing adoption of wireless technologies, including Low Power Wide Area Networks (LPWANs), Cellular (4G & 5G), Zigbee & other Mesh Protocols, Bluetooth & BLE, Wi-Fi, and RFID foster the market growth.
Moreover, advances in wireless IoT sensing devices and increasing uses of intelligent sensing devices for IoT big data applications influence the development of the market. As wireless applications become a preferred solution, various wireless sensing devices are getting introduced to the market and have kept leading the IoT sensing technology.
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Segmentation of Market Covered in the Research:
The wireless IoT sensors market forecast is segmented into components, type, technology, vertical, and region.
The component segment is sub-segmented into hardware, service, and software.
The Type segment is sub-segmented into the image sensor, motion sensor, proximity sensor, pressure sensor, magnetometer, humidity sensor, temperature sensor, touch sensor, accelerometer, gyroscope, flow sensor, and others.
The technology segment is sub-segmented into Wi-Fi, Bluetooth, ZigBee, NFC, Z-Wave, RFID, and others. Among these, the Wi-Fi sub-segment holds the largest market share.
The technology segment is sub-segmented into Wi-Fi, Bluetooth, ZigBee, NFC, Z-Wave, RFID, and others. Among these, the Wi-Fi sub-segment holds the largest market share.
The vertical segment is sub-segmented into industrial IoT, consumer IoT, commercial IoT, and others. Among these, the industrial IoT sub-segment holds the largest market share.
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Regional Analysis
North America is assessed to retain its dominance over the global wireless IoT sensors market. The largest market share attributes to the presence of major players and well-developed infrastructure in this region.
Europe is expected to acquire the second position in the global wireless IoT sensors market. The increasing innovation in smart home and gaming applications and the rising use of IoT sensors in manufacturing industries are major factors pushing the market's growth.
Asia Pacific has emerged as a profitable market for wireless IoT sensor solutions globally. Factors such as the growing industrial sector and rising numbers of small and medium-sized enterprises (SMEs) in the region boost the wireless IoT sensors market size.
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Industry Trends:
The emergence of 5G networks alongside the digital transformation across industries, proliferation of Industry 4.0, and IoT advances are megatrends boosting the wireless IoT sensors market size. Utilizes of smart connected devices are anticipated to grow regardless of vertical. Besides, improvements in cellular technologies 5G/4G/LTE drive the market growth, improving the connectivity and powering new and emerging IoT applications.
In the future, wireless IoT sensors would be increasingly used for remote health monitoring and healthcare devices. Recently, on Feb. 04, 2021, Swift Sensors, a leading global provider of industrial IoT sensor solutions, launched its secure wireless vaccine storage unit monitoring and alert system to enable medical facilities and pharmacies to remotely monitor COVID-19 vaccine storage temperatures, automate data logging, and respond quickly in case of an equipment problem or power failure.
Conversely, security privacy issues are projected to hamper the wireless IoT sensors market growth. As the 5G implementations increase, the need for good security would become even more critical.
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