Global Wireless IoT Sensors Market Research Report - Forecast till 2025
The Global Wireless IoT Sensors Market is accounted for to reach 32.87% CAGR during the study period. The IoT has transformed the approach of connectivity in a significant way to leverage the businesses. The IoT sensors are distributed across large geographic areas and programmed to communicate with central hubs, gateways, and servers. The major advantage of a wireless sensor is they require a low level of maintenance and a small amount of power to function. The two most common arrangements for wireless sensors are the star and mesh terminologies.
The Global Market for Wireless IoT Sensors is evaluated to reach a tremendous growth during the forecast period. North America is expected to dominate the wireless IoT sensors market during the forecast period followed by Europe. The regional market growth is driven by the existing infrastructure and the presence of major players in this region. The regional market is led by the US owing to the increasing demand for smartphones, home appliances, consumer electronic products, vehicles, and defense products to increase the demand for wireless IoT sensors.
Europe was evaluated as the second largest market share in 2018. The technology revolution in smart homes and gaming applications and the growing applications of IoT sensors in industries are driving factors for the regional market. The trending 5G technology has made connectivity of IoT accessible and set off the scope of IoT sensors in industrial automation, logistics & supply chain, automotive, electronics, and healthcare sectors.
The global market for wireless IoT sensors is categorized based on Component, Type, Technology, and Vertical.
By the component segment, the market is segregated into hardware, software, and services. Based on type, the market is further divided into Image Sensor, Motion Sensor, Proximity Sensor, Pressure Sensor, Magnetometer, Humidity Sensor, Temperature Sensor, Touch Sensor, Accelerometer, Gyroscope, Flow Sensor, and Others.
The technology segment of global wireless IoT sensors has been further segmented into Wi-Fi, Bluetooth, ZigBee, NFC, Z-Wave, RFID, and Others. The vertical segment is further categorized as Industrial IoT, Consumer IoT, and Commercial IoT
By Region, the Global Wireless IoT Sensors Market is segmented into North America, Europe, Asia-Pacific (APAC), and the rest of the world.
Asia-Pacific region envisions leading the global wireless IoT sensors market due to the existence of developing economies such as India, Japan, and China. The regional market growth is attributed to the rising industrial segment, increasing the rate of small and medium-sized enterprises (SMEs). The innovations in IoT and wireless networking, rising demand for wireless IoT sensors in medical device manufacturing, automobiles, and consumer electronics are some of the factors driving the regional market.
The Major Players of the Global Wireless IoT Sensors Market are Honeywell International Inc. (US), Ltd (Japan), FUJITSU (Japan), SmartThings Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (US), TE Connectivity (Switzerland), NXP Semiconductors (Netherlands), Omron Corporation (Japan), TDK Corporation (Japan), Broadcom Inc. (US), Analog Devices, Inc. (US), Murata Manufacturing Co., Infineon Technologies AG (Germany), Robert Bosch GmbH (Germany), and Sony Corporation (Japan).
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