Wireless Temperature Sensors Market - Growth, Trends, and Forecast (2020 - 2025)
The Wireless Temperature Sensors Market is Segmented by End-user Application (Military and Security, Medical, Automotive, Industrial Monitoring, Building Automation, Other End-user Applications), and Geography.
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Scope of the Report
Key Market Trends
TABLE OF CONTENTS
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The wireless temperature sensors market was valued at 15.09 million units in 2019 and is expected to reach 23.45 billion units by 2025, at a CAGR of 7% over the forecast period 2020 - 2025. NMP Europa, the Industrial Technologies Program, developed a wireless sensor that measures temperature in harsh environments, such as high-temperature furnace up to 700°C, airplane engines, or chemical reactors.
Substantial investments in the industry, to innovate and develop new sensor technologies and upgrading existing infrastructure to support IoT and automation, have been the primary trends impacting the industry, globally.
Innovation in sensor technologies, such as smart and intelligent sensors and the low power consumption capabilities, is expected to support the adoption of wireless technologies in the market. All these factors are expected to contribute to the wireless temperature sensors market growth.
The capabilities to operate without onboard power supply has further augmented the market opportunities for wireless temperature sensors, as these devices can be placed in a remote location. For instance, surface acoustic wave devices can operate without an onboard power supply using a dedicated interrogation unit that is sensitive to temperature changes.
However, higher infrastructure updating costs to maintain security needs stands as a major challenge for the market.
Scope of the Report
Wireless temperature sensors are measurement tools equipped with transmitters to convert signals from process instruments into a radio transmission. The wireless temperature sensors enable the end users to utilize these sensors network protocols and algorithms that allow it to possess self-organizing capabilities.
By End-user Application
Military and Security
Other End-user Applications
Middle East & Africa
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Key Market Trends
Building Automation Sector Expected to Hold Significant Share
The integrated building solution system with wireless temperature sensors accesses control to share information and strategies to reduce energy consumption, improve energy efficiency management, and provide value-added functionality. This factor not only increases energy and operational efficiency but also provide a level of occupant control unmatched by single-purpose and non-integrated systems.
Moreover, for the millions of buildings built over the past decades, smart HVAC systems are expected to become an essential investment opportunity if the companies are resolute to mitigate their effects on the environment and energy savings.
Globally, due to the increasing government regulations across developed and developing countries, most of the buildings need smarter heating and cooling in new buildings. The wireless temperature sensors are used in smart home devices to monitor physical and environmental conditions, such as temperature, to pass the data in a structured manner through the network to the primary location. So the growth in smart home devices is directly impacting the growth of wireless temperature sensors market.
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North America Expected to Hold a Major Share
Adoption of smart factories, intelligent manufacturing, and the presence of multiple industrial wireless temperature sensor manufacturers and system integrators in the different parts of North America are expected to drive the growth in the market.
In North America, 5G adoption initiative has made it possible for temperature sensor network to transfer multimedia files at a fast rate and enable MIMO (Multiple Input Multiple Output) networking capabilities. Furthermore, avoiding wired sensors and replace them with wireless temperature sensors in commercial spaces result in reduced maintenance and increased space availability.
For instance, In the United States, existing wireless technologies in the communication industry, such as the IEEE 802.15.4 communication protocol with reduced power consumption by continuous investment in strengthening the 5G adoption, MIMO communication, and industry 4.0 capabilities are expected to create a supportive ecosystem for the market players.
Additionally, the end-user industry’s readiness for the adoption of new technology in the North America region is expected to present the market vendors the potential opportunities for the growth in the wireless temperature sensors market.
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The wireless temperature sensors market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
December 2018 - Yokogawa Electric Corporation released Sushi Sensor, an OpreX brand wireless solution, in different markets other than Japan. Optimized for industrial IoT (IIoT) applications, the Sushi Sensor enables the online monitoring of equipment operating conditions, which helps to improve equipment maintenance and prevent failures by detecting signs of abnormalities at an early stage.
June 2018 - Analog Devices, Inc. announced a sensor interface IC that enables the next generation of intelligent electrochemical sensors. Compared to traditional discrete solutions, which pose limitations and require multiple ICs to achieve similar performance. ADI’s new microcontroller platform offers increased reliability, utmost flexibility, and significant cost savings.