Market Size of Industrial Wireless Sensor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Industrial Wireless Sensors Market Analysis
The industrial wireless sensor market is expected to register a CAGR of 12.4% during the forecast period (2021 - 2026). There are rapid technological advances for the wireless sensors thereby strengthening its products and applications. Industrial wireless sensors are classified into different types such as flow, temperature, pressure, gas sensors and others. These industrial sensors have various features such as a high degree of precision, reliability, range, variety, and sensitivity and enable advanced control and automation of different industrial processing units. The development of cost-effective, present sensor networks primarily depends upon the speed and quality of technological advancement, the advancement of technical regulations and standards and the alternate methods of power supply. Wireless sensors are standard measurement tools that are equipped with transmitters that can convert signals from process control instruments into a radio transmission.
- One of the major factor leading to the increasing use of wireless sensors is the need for monitoring and analyzing real-time data.
- Growing Industrial 4.0 and IIoT is also a major driver for the wireless sensors. The ever-increasing demands of manufacturers and the drive towards the realization of IIoT and Industry 4.0 is further propelling the growth of the industrial wireless sensors market.
- There is a rapid rise in demand for wireless sensors in the oil and gas industry owing to the growth of the market. Due to the continuously increasing demand for energy and power, there is a rise in demand for oil and gas globally.
- The major factor responsible for hindering the growth of this market is data security and the high cost of the sensors.
- Originally conceptualized for military use, these networks now have wide-ranging applications in civilian, industrial, and consumer markets. These extend from preventing trespassing in monitoring building strength and evaluating water quality to measuring individual heart rate.
