Dublin, Nov. 17, 2021 (GLOBE NEWSWIRE) -- The "Global Battery-free Sensors Market with COVID-19 Impact Analysis, by Sensor Type (Temperature Sensors, Humidity/Moisture Sensors, Pressure Sensors), Frequency, Industry (Automotive, Logistics, Healthcare, Food & Beverages), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global battery-free sensors market size is projected to grow from USD 32 million in 2021 to USD 109 million by 2026; it is expected to grow at a CAGR of 27.6% from 2021 to 2026.
With rapid technological advancements, battery-free sensors are increasingly adopted in IoT applications to improve production efficiency and reduce operational and maintenance costs in the wake of COVID-19.
Additionally, the ongoing miniaturization of medical and electronic devices and the growing implementation of automated condition monitoring solutions in smart factories are expected to boost the growth of the battery-free sensors market during the forecast period.
In the prevailing COVID-19 situation, the expected growth of the battery-free sensors market is expected to decline as the pandemic is restricting the supply of batteries and other components due to severe disruptions in businesses and the global economy. The current situation has impacted the supply chain of the battery industry. Key components for batteries are mainly manufactured in Asia Pacific.
The COVID-19 situation has exposed the overdependency on the region for key raw materials, especially China. Battery manufacturers in the US, Germany, and Australia are highly impacted by the shutdown of operations in China and other Asia Pacific countries.
It has also resulted in limited production leading to a serious decline in business inputs. The recovery depends on government assistance, as well as the level of corporate debt and how the companies and markets cope with the trimmed demand.
Ultra High frequency segment expected to hold the largest market share during the forecast period
At present, most battery-free sensor manufacturers offer UHF sensors for various applications. These sensors have much longer read ranges (up to 20 feet)than that of low-frequency and high-frequency sensors and can be mounted on metal; hence, UHF sensors are ideal for industrial applications.
UHF sensors also allow multiple sensors to read with the help of one reader. Thus, UHF sensors work well in a wireless sensor network. These factors contribute to the high demand for UFH battery-free sensors. Similarly, high-frequency sensors hold a significant market share owing to the high deployment of these sensors in medical devices, smartphones, and supply chain applications.
Logistics industry is expected to grow at the highest CAGR during the forecast period
In recent years, logistics has emerged as a significant market for sensors. Smart sensors increase the automated collection and processing of data and broaden management visibility across the supply chain to help companies reduce operating costs, improve asset efficiency, and generate incremental revenue. Battery-free sensors with RFID technology enable touch-free identification and tracking of items and have helped transform traditional inventory management.
RFID enables a more automated approach that can offer increased accuracy and real-time inventory tracking at a very low cost. These sensors allow for more traceability of inventory, potentially reducing the risk of inventory shrinkage or loss. More reliable and current information can also strengthen demand-planning capabilities, potentially reducing out-of-stock and overstock situations.
Moreover, advancements in battery-free sensors technology have generated savings not only from inventory theft protection but also from reduced spoilage. Hence, the logistics industry is expected to be the fastest-growing market from 2021 to 2026.
APAC is projected to grow at the highest CAGR during the forecast period
Battery-free sensors market in APAC is expected to grow at the highest CAGR during 2021?2026. Ongoing industrialization, growing adoption of predictive maintenance tools, and increasing competitive pressure to achieve operational efficiency are fueling the growth of the battery-free sensors market in this region.
The expansion of manufacturing activities resulting from the migration of production bases to Asian countries, such as China, India, and South Korea, with low labor costs, drives the demand for battery-free sensors in the region.
However, the outbreak of COVID-19 has impacted the manufacturing facilities of all verticals across the world, forcing them to shut down. However, production has resumed in a few facilities in China, thereby initiating the manufacturing of some essentials.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities In Battery-Free Sensors Market
4.2 Market, by Sensor Type
4.3 Market, by Frequency
4.4 Market In North America, by Industry and Country
4.5 Market, by Industry
4.6 Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising use of battery-less sensors in IoT applications to reduce maintenance costs, coupled with rapid advancements in sensing technology
5.2.1.2 Increasing installation of battery-free sensors in manufacturing plants during COVID-19 scenario to improve productivity
5.2.1.3 Ongoing miniaturization of medical and electronic devices
5.2.1.4 Surging adoption of automated condition monitoring solutions in smart factories
5.2.2 Restraints
5.2.2.1 High set up costs associated with the installation of sensor networks and intense price competition
5.2.2.2 Data security concerns
5.2.3 Opportunities
5.2.3.1 Supportive government initiatives and funds sanctioned for IoT projects
5.2.3.2 High implementation of predictive maintenance programs in industrial environments
5.2.4 Challenges
5.2.4.1 Restricted market growth in first half of 2020 owing to supply chain disruptions resulting from COVID-19
5.2.4.2 Lack of knowledge to handle large data sets
5.3 Value Chain Analysis
5.4 Ecosystem Analysis
5.5 Revenue Shift and New Revenue Pockets for Battery-Free Sensors Market
5.6 Porter's Five forces Analysis
5.7 Case Study Analysis
5.8 Technology Analysis
5.9 Pricing Analysis
5.10 Trade Analysis
5.11 Patent Analysis
5.12 Tariff Landscape
5.13 Regulatory Landscape
6 Battery-Free Sensors Market, by Frequency
6.1 Introduction
6.2 Low Frequency
6.2.1 Access Control and Inventory Management Applications Are Major Contributors To the Growth of Low-Frequency Segment
6.3 High Frequency
6.3.1 Medical Devices and Supply Chain Applications Contribute Most To Rising Demand for High-Frequency Sensors
6.4 Ultra High Frequency
6.4.1 Ultra-High-Frequency Battery-Free Sensors Are the Most In-Demand Sensors
7 Battery-Free Sensors Market, by Sensor Type
7.1 Introduction
7.2 Temperature Sensors
7.2.1 High Adoption of Temperature Sensors In Manufacturing Sector To Drive Market Growth
7.3 Humidity/Moisture Sensors
7.3.1 Easy Connectivity To Devices Enabled With Wi-Fi To Boost Demand for Battery-Free Humidity Sensors
7.4 Pressure Sensors
7.4.1 High Demand From Industries Such As Chemicals, Petrochemicals, Pharmaceuticals, Oil & Gas, and Food & Beverages Propels Market Growth
7.5 Motion and Position Sensors
7.5.1 Technological Advancements Lead To Increasing Demand for Battery-Free Motion and Position Sensors In Different Applications
7.6 Light Sensors
7.6.1 Strong Demand for Light Sensors Is Primarily Driven by Building Automation Applications
7.7 Other Sensors
7.7.1 Image Sensors
7.7.2 Ultrasonic Sensors
7.7.3 Vibration Sensors
8 Applications of Battery-Free Sensors
8.1 Introduction
8.2 Food Quality Monitoring
8.3 Supply Chain Management
8.4 Condition Monitoring
8.5 Building Automation
8.6 Data Centers
9 Battery-Free Sensors Market, by Industry
9.1 Introduction
9.2 Automotive
9.2.1 IIoT Enables Automotive Industry To Adopt Easy-To-Integrate Battery-Free Sensors
9.3 Logistics
9.3.1 Battery-Free Sensors Have Huge Potential In Logistics and Supply Chain Applications
9.4 Healthcare
9.4.1 Pharmaceutical Companies Use Battery-Free Sensors To Supervise and Manage Various Processes On Production Floor
9.5 Oil & Gas
9.5.1 Advent of Industry 4.0 and Battery-Free Sensors Ensures Smooth Monitoring and Management of Oil & Gas Plants
9.6 Food & Beverages
9.6.1 Rapid Technological Developments In Food & Beverages Industry To Accelerate Demand for Battery-Free Sensors
9.7 It and Telecommunications
9.7.1 Automated Data Centers To Create Huge Opportunities for Battery-Free Sensor Providers
9.8 Others
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Product launch and collaboration strategies of key players to stimulate the growth of battery-free sensors market in the US
10.2.2 Canada
10.2.2.1 Adoption of smart factory solutions in Canada to propel the growth of market in-country
10.2.3 Mexico
10.2.3.1 Growth of industrial automation market in Mexico to create lucrative opportunities for battery-free sensors market in-country
10.3 Europe
10.3.1 Germany
10.3.1.1 Implementation of Industry 4.0 to support growth of battery-free sensors market in Germany
10.3.2 UK
10.3.2.1 Deployment of IoT in manufacturing sector to drive growth of battery-free sensors market in UK
10.3.3 France
10.3.3.1 Focus on technological research and development and government support to promote battery-free sensors market growth in France
10.3.4 Rest of Europe
10.4 APAC
10.4.1 China
10.4.1.1 High labor costs in China encouraging manufacturers to use battery-free sensors
10.4.2 Japan
10.4.2.1 Notable growth of automotive industry of Japan to elevate demand for battery-free sensors in country
10.4.3 India
10.4.3.1 Make in India initiative to drive utilization of battery-free sensors in manufacturing sector in India
10.4.4 Rest of APAC
10.5 Rest of the World (RoW)
10.5.1 Middle East and Africa
10.5.1.1 High adoption of battery-free sensors by oil and gas companies in Middle East to propel market growth
10.5.2 South America
10.5.2.1 Heavy investments of South American economies in shipbuilding, mining, and automobile manufacturing activities to spur demand for battery-free sensors
11 Competitive Landscape
11.1 Overview
11.2 Top 5 Company Revenue Analysis
11.3 Market Share Analysis, 2020
11.4 Competitive Leadership Mapping
11.4.1 Star
11.4.2 Emerging Leader
11.4.3 Pervasive
11.4.4 Participant
11.5 Small and Medium Enterprises (SME) Evaluation Matrix, 2020
11.5.1 Progressive Company
11.5.2 Responsive Company
11.5.3 Dynamic Company
11.5.4 Starting Block
11.6 Battery-Free Sensors Market: Product Footprint
11.7 Competitive Situations and Trends
11.7.1 Battery-Free Sensors Market: Product Launches, September 2020-May 2021
11.7.2 Market: Deals, October 2018-November 2020
12 Company Profiles
12.1 Introduction
12.1.1 Impact of COVID-19 On Companies Operating In Battery-Free Sensors Market
12.2 Key Players (Business Overview, Products offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
12.2.1 ON Semiconductor
12.2.2 Farsens
12.2.3 Axzon (Rfmicron, Inc.)
12.2.4 Inductosense Ltd.
12.2.5 Phase IV Engineering
12.2.6 Powercast Corp.
12.2.7 Distech Controls
12.2.8 Enocean GmbH
12.2.9 DCO Systems Ltd.
12.2.10 Everactive
12.3 Other Key Players
12.3.1 Fuji Electric Co., Ltd
12.3.2 Bridg Inc.
12.3.3 General Electric
12.3.4 Infineon Technologies Ag
12.3.5 Metalcraft
12.3.6 GA0 Group
12.3.7 Texas Instruments Inc.
12.3.8 Omni-ID
12.3.9 NXP Semiconductors
12.3.10 Zebra Technologies
12.3.11 Alien Technology
12.3.12 Impinj
12.3.13 CAEN RFID S.R.L.
12.3.14 Identiv
12.3.15 Securitag Assembly Group (SAG)
13 Appendix
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