The Latin American wireless sensors market is expected to grow to USD 0.13 billion by 2021 at a CAGR of 14.07% over the period 2016-2021. The growth of the Latin American wireless sensors market is currently being hindered by the maturity of the end-user segment and environmental impact on sensors. Manufacturers focus on investing in R&D activities to improve accuracy and reliability. Further, industry participants emphasize product differentiation in order to avoid price competition. Latin America accounted for around 5% market share of the global wireless sensors market in 2014.
Wireless sensors are used in factory settings for data monitoring, flow of production, and other similar functions as well as in building automation, defense, and other industries like material handling and food and beverage. The increasing quest for new energy sources, renewable energy development, government regulations, and rapid technological advancements are the key drivers that are making the wireless sensors market to grow lucratively. They are also a vital component in smart grids for remote monitoring of transformers and power lines where they are put into service to monitor line temperature and weather conditions.
The Latin American wireless sensors market is segmented on the basis of type (temperature, pressure, surveillance, leak, flow, humidity, chemical, position, and others), and industry (energy, manufacturing, healthcare, defense, transportation, banking, retail, and others).
This report gives a detailed study of the Porter’s five forces analysis of the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. It also covers the market landscape of these players, which includes the key growth strategies and competition analysis.
The report also considers key trends that will impact the industry and profiles over 10 leading suppliers of the Latin American wireless sensors market. Some of the top companies mentioned in the report are:
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