Global Wireless Sensors Market 2024-2028

Global Wireless Sensors Market 2024-2028

The wireless sensors market is forecasted to grow by USD 28.87 bn during 2023-2028, accelerating at a CAGR of 18.02% during the forecast period. The report on the wireless sensors market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing adoption of Industry 4.0, the emergence of self-driven car technology, and the increasing demand for IoT devices with wireless sensors in residential applications.

Technavio's wireless sensors market is segmented as below:

By End-user

• Building automation
• Wearable devices
• Healthcare
• Automotive and transportation
• Others

By Component

• Hardware
• Software
• Services

By Geography

• North America
• APAC
• Europe
• South America
• Middle East and Africa

This study identifies emerging wearable technologies as one of the prime reasons driving the wireless sensors market growth during the next few years. Also, the rising adoption of location-based tracking through LTE and LTE -A and the growing focus on the development of high-resolution automotive image sensors will lead to sizable demand in the market.

The report on the wireless sensors market covers the following areas:

• Wireless sensors market sizing
• Wireless sensors market forecast
• Wireless sensors market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading wireless sensors market vendors that include ABB Ltd., ADT Inc., Advantech Co. Ltd., Analog Devices Inc., Emerson Electric Co., General Electric Co., Honeywell International Inc., Infineon Technologies AG, Koninklijke Philips N.V., Laird Connectivity, Legrand SA, Libelium Comunicaciones Distribuidas SL, Lutron Electronics Co. Inc., Microchip Technology Inc., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Schneider Electric SE, Sensata Technologies Inc., Siemens AG, Somfy SA, STMicroelectronics International NV, TE Connectivity Ltd., Texas Instruments Inc., Yokogawa Electric Corp., and Broadcom Inc.. Also, the wireless sensors market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.