Dublin, April 20, 2023 (GLOBE NEWSWIRE) -- The "Wireless Sensor Network Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.
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.
Growth in the historic period resulted from emerging markets growth, an increasing demand for smart consumer devices and a rise in demand for remote monitoring.
Going forward, government investments, an increasing demand for electric vehicles, rising urbanization and increasing internet penetration will drive the market growth. Factors that could hinder the growth of the wireless sensor network market in the future include stringent regulations and increasing raw material costs.
The wireless sensor network market is segmented by component into hardware, software, and services. The hardware market was the largest segment of the wireless sensor network market segmented by component for 42.0% of the total in 2022. Going forward, the software market is expected to be the fastest growing segment in the wireless sensor network market segmented by component, at a CAGR of 17.8% during 2022-2027.
The wireless sensor network market is segmented by sensor type into ambient light sensors, motion and position sensors, temperature sensors, heart rate sensors, pressure sensors, IMUs (6-axis, 9-axis), accelerometers (3-axis), blood glucose sensors, image sensors, humidity sensors, carbon monoxide sensors, blood oxygen sensors, flow sensors, level sensors, chemical sensors, ECG sensors, and other sensor types. The other sensor types market was the largest segment of the wireless sensor network market segmented by sensor type for 44.0% of the total in 2022. Going forward, the image sensors market is expected to be the fastest growing segment in the wireless sensor network market segmented by sensor type, at a CAGR of 19.0% during 2022-2027.
The wireless sensor network market is segmented by connectivity type into Wi-Fi, Bluetooth, cellular network, GPS/GNSS module, ZigBee, NFC, WHART, ISA100, and other connectivity types. The Wi-Fi market was the largest segment of the wireless sensor network market segmented by application for 23.2% of the total in 2022. Going forward, the Wi-Fi market is expected to be the fastest growing segment in the wireless sensor network market segmented by connectivity type, at a CAGR of 18.5% during 2022-2027.
The wireless sensor network market is segmented by end-user industry into building automation, wearable devices, healthcare, industrial, automotive and transportation, other end-users. The building automation market was the largest segment of the wireless sensor network market segmented by end-user industry for 29.2% of the total in 2022. Going forward, the building automation market is expected to be the fastest growing segment in the wireless sensor network market segmented by end-user industry, at a CAGR of 17.8% during 2022-2027.
North America was the largest region in the wireless sensor network market, accounting for 32.4% of the total in 2022. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the wireless sensor network market will be Asia Pacific, and South America where growth will be at CAGRs of 18.9% and 17.6% respectively. These will be followed by North America and Western Europe where the markets are expected to grow at CAGRs of 16.9% and 16.1% respectively.
The global wireless sensor network market is fragmented, with a large number of players. The top ten competitors in the market made up to 6.35% of the total market in 2021. This can be due to the existence of number of local players in the market serving customers in particular geographies. NXP Semiconductors N.V. was the largest competitor with 1.20% share of the market, followed by Texas Instruments Inc. with 0.87%, Emerson Electric Co with 0.81%, STMicroelectronics N.V. with 0.72%, Infineon Technologies AG with 0.63%, Analog Devices with 0.57%, TE Connectivity Ltd with 0.53%, Cisco Systems Inc with 0.46%, Siemens AG with 0.30% and ABB Ltd with 0.26%.
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.
Market-trend-based strategies for the wireless sensor network market include mergers and acquisitions, technological development, partnerships and collaborations, Internet of Things (IoT) connectivity and product innovations.
Player-adopted strategies in the wireless sensor network market include new product launches and strategic acquisitions.
The report covers the following chapters
- Introduction and Market Characteristics
Brief introduction to the segmentations covered in the market, definitions and explanations about the wireless sensor network market.
- Key Trends
Highlights the major trends shaping the global wireless sensor network market. This section also highlights likely future developments in the market.
- Global Market Size and Growth
Global historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional Analysis
Historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values and growth and market share comparison by region.
- Market Segmentation
Contains the market values (2017-2032) and analysis for each segment by component, by sensor type, by connectivity type and by end-user industry in the market.
- Regional Market Size and Growth
Regional market size (2022), historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape
Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Key Mergers and Acquisitions
Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities and Strategies
Describes market Opportunities and Strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations
Includes recommendations for wireless sensor network providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix
This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 350 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $76466.73 Million |
| Forecasted Market Value (USD) by 2031 | $399463.02 Million |
| Compound Annual Growth Rate | 18.0% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- NXP Semiconductors N.V.
- Texas Instruments Inc
- Emerson Electric Co
- STMicroelectronics N.V.
- Infineon Technologies AG
For more information about this report visit https://www.researchandmarkets.com/r/1y0lur
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