Wireless Temperature Sensors Market Size

Wireless Temperature Sensors Market Analysis

The global wireless temperature sensors market was valued at 16.06 million units in 2020 and expected to reach 24.93 million units by 2026 and grow at a CAGR of 7.7% over the forecast period (2021-2026). The adoption of process and monitoring automation in the industrial operations is the major driver augmenting the demand for wireless sensors in asset monitoring, security, and quality assurance. The improved reliability of networked equipment with communication technology advancements is a significant factor driving the market for wireless temperature sensors.

• Wireless temperature sensors are small-sized. The low-cost wireless communication enabled sensors are deployed to build various temperature monitoring and control networks used in diverse fields, like industrial automation, process control, patient monitoring systems, asset tracking, internal, external climate sensing, etc.
• Increasing investments in the industry to innovate and develop new sensor technologies and upgrading existing infrastructure to support and integrate technologies, like IoT and automation, have been the primary trends impacting the industry on a global scale.
• In January 2020, Momenta Ventures invested in SST Wireless. A wireless, industrial-hardened condition-monitoring sensor used to increase worker safety, reduce downtime, extend machinery service life, and conserve resources, such as water and energy.
• Wireless temperature sensors are also vital in smart grids for remote monitoring of power lines and transformers. They are put into service to monitor line temperature and weather conditions. Industrial automation and demand for miniaturized consumer devices, such as wearables and IoT-connected devices, among others, across regions, are among the significant factors driving the wireless temperature sensors market.
• Moreover, due to the increased government regulation for the increased use of the sensor for safety, the demand for wireless temperature sensors is growing. For instance, the areas with challenging environmental conditions, such as extreme high pressure and high temperature, require wireless sensors. It becomes easy to control and monitor the facility from a safe distance continually. They help to acquire the data from the locations, which are difficult to access.
• With the 5G adoption initiated in the significant market, such as North America, Europe, and other major developed cities across the world, has made it possible for this sensor network to transfer multimedia files at a fast rate and enable MIMO networking capabilities.
• The different end-user industry applications require wireless sensors to meet the current standard requirement, such as measuring precisely and accurately moving machinery. This factor creates challenges and acts as a barrier to developing a product that suits all the industry's applications. It also helps to create a market for a customized solution and provides a competitive edge for vendors having such capabilities.
• Due to the outbreak of COVID-19, the global supply chain and demand for multiple products have been disrupted, owing to which wireless temperature sensors adoption is expected to be influenced until the end of 2020. However, the growing demand for medical applications is driving the market growth. Various players in the market are investing and collaborating to cater to the requirements.
• For instance, In April 2020, Semtech and Polysense Technologies have joined forces to develop a series of human body temperature monitoring devices based on Semtech's LoRa LPWAN. The sensors provide real-time data to frontline healthcare workers and quickly screen individuals with a high temperature, one of the most common symptoms of COVID-19.