The market is expected to grow at a CAGR of 24.12% during the forecast period. The market is estimated to reach a value of $5.52 billion by 2020. Owing to the emerging markets in China, India and Japan, Asia Pacific will see growth at a fast pace in the coming years. Industry participants in this region are focusing on product differentiation in order to avoid price competition. As a result of a stagnant economic growth, Europe is expected to grow only at a slow pace over this period.
Wireless sensors are used in factory settings for data monitoring of production flow. They are also used in building automation, defense and other industries like materials handling and food & beverage. Quest for new energy sources, renewable energy development, government regulations, and rapid technological advancements are the key drivers propelling market growth.
Wireless sensors 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 global wireless sensors market is segmented on the basis of Type (Temperature, Pressure, Surveillance, Leak, Flow, Humidity, Chemical, Position, and Others), Industry (Energy, Manufacturing, Healthcare, Defense, Transportation, Banking, Retail, and Others), & Geography (North America, Europe, Asia Pacific, Latin America, & Middle East & Africa).
Some of the major players in this industry are Abb Ltd (Switzerland), Emerson Process Management (U.S.), Siemens AG (Germany) and Texas Instruments (U.S.).
SPECIALITIES OF THIS REPORT
1) The report will be useful in gaining an exhaustive understanding of the regional market. It will also be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade
2) The report will be an ideal source material for industry consultants, manufacturers and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered.
3) The report contains wide range of information about the leading market players and the major strategies adopted by them.
WHAT THE REPORT OFFERS
1) Market definition along with identification of key drivers and restraints for the market.
2) Market analysis with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the industry on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.