The global wireless sensors market is estimated to witness substantial growth over the forecast period. This market growth can be attributed to the rising demand for miniaturized electronic gadgets and improved communication capabilities across the globe. Escalated demand across several industry verticals is expected to drive the market growth over the forecast period. In addition, growth in electronics industry has contributed largely to the market expansion. The market is poised to experience remarkable growth over the forecast period owing to the augmentation of Wireless Sensor Networks (WSN). Technological advancements have taken the market by storm with the adoption of innovative techniques of integrating wireless sensors into electronic gadgets. Growing end-user awareness is expected to fuel the market augmentation. These sensors are largely used for monitoring data, production flow, building automation, materials handling, defense, and food & beverage. The market foresees several opportunities in the production of electrical equipment. Industries now demand for seamless data transmission between business and plant systems for efficient functioning. This has consequently generated multiple opportunities for market augmentation.
Increased governmental spending has greatly liberalized the sensors market. The market is expected to gain traction owing to increased focus of sensor manufacturers on improving wireless sensing technology. Heavy investments on R&D activities to improve accuracy and reliability of sensors have accelerated the market growth. Governmental regulations, increasing quests for new energy sources and renewable energy developments are the key reasons for lucrative growth of market. They are widely used in remote monitoring of power lines and transformers to scrutinize line temperature and weather conditions and form a vital part of smart grids. Furthermore, these sensors have applications in soil monitoring, flood detection, forest fire detection, water management, greenhouse gas emission & ambient air monitoring, disease detection, precision irrigation, and vehicular movement. The demand for these sensors is escalated owing to high physical reach, sustainability, and efficient working in harsh operating environments. Moreover, these sensors are highly cost-efficient and require less time for roll out and installation. Industry vendors have emphasized on product differentiation to avoid price competition.
The wireless sensors market comprises wide range of sensors, which are segmented on the basis of types into pressure, surveillance, flow, humidity, pressure, temperature, position, mechanical, proximity, position, motion, chemical, biosensors, and gas sensors. The sensors can be categorized on the basis of applications. It comprises applications in healthcare, manufacturing, energy, banking, transportation, retail, and defense sectors. The market segment for healthcare and energy applications contributes largely to the entire market. Furthermore, the market can be classified on the basis of technology and standards adopted. It consists of Bluetooth and Bluetooth Smart, Zigbee & RF4CE, WiFi & 6LoWPAN, Radio-frequency Identification (RFID), and technologies based on the advanced 802.15.4 such as Wireless HART, Z-Wave, and EnOcean.
However, limited bandwidth of wireless sensors is poised to hamper the market growth. Adopting variety of standards for use of sensors in diverse environments has given rise to compatibility issues. Enforcement of a common standard is crucial to minimize data packet losses, ensuring free data flow, and maintaining the speed of transmission. The market is highly fragmented, disorganized, and fails to consolidate among different wireless technologies which has decelerated the market growth rate. Maturity of end-user segment has confined the growth opportunities for the market. Moreover, environmental catastrophes affect the functioning of sensors and have subsequently hampered the market expansion. Ever changing regulatory environment and rising associated costs have hampered the growth opportunities.
North American region is expected to dominate the wireless sensors market. Heavy investments and legislative initiatives on wireless technology in countries such as the U.S. and Canada have propelled market growth in the North American region. Moreover, the augmentation of WSN in this region is expected to bolster the market demand for these sensors. Growth in agriculture sector coupled with high demand for electronic equipment in the Asia Pacific region has spurred the demand for sensors in the region.
Major players dominating the wireless sensors market are ABB Group, Adaptive Energy Strategies LLC, Ambient Micro LLC, Apprion Inc., Aruba Networks GmbH, Atmel Corporation, BAE Systems Plc, Chevron Corporation, Dust Networks, Inc., Emerson Network Power, Gastronics, Inc., and Microstrain Sensing Systems.
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