Wireless Flow Sensors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Wireless Flow Sensors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The wireless flow sensors market was valued at USD 0.72 billion in 2020 and is expected to reach a value of USD 2.95 billion by 2026, projecting a CAGR of 27.07% over the forecast period (2021 - 2026). With a lot of innovation and modern technologies such as Coriolis, ultrasonic, magnetic, and vortex flow sensors are a significant competition to traditional measurement technologies, these advanced technologies have also witnessed competition among themselves. Each technique has its pro and cons that make it suited for a specific application.

Key Highlights

• The revival of the oil & gas and the expanding infrastructure in the water & wastewater industry are likely to drive growth in the medium to long term. Growth opportunities are opening in developing economies, such as China and India that have developed their oil and gas and chemical industries.
• The increasing quest for new energy sources, renewable energy development, government regulations, and rapid technological advancements are the key drivers which are making the wireless flow sensors market to grow with a boom.
• The wireless flow sensors market is being hindered by the maturity of the end-user segment and environmental impact on sensors. Manufacturers are investing in R&D activities, as accuracy and reliability are primary product selection criteria. Moreover, industry participants emphasize on product differentiation to avoid price competition.

Key Market TrendsIncreasing Adoption of Wireless Technologies to Drive the Market Growth

• Wireless sensors are proving to be advantageous over wireline, with a wider range of features and compatibility, and faster response and lower power consumption. Growing investments by leading players and demand for wireless technologies from end-user industries are supporting the market.
• With a growing number of companies moving toward wireless, the production costs are also declining, thereby enabling wider consumption in the market. However, lack of awareness and capital in developing markets and strong foothold of wireline sensors in traditional markets, are acting as restraints to the growth of wireless sensors, with many consumers being skeptical over the adoption of new technologies.
• Moreover, the increasing adoption of Wi-Fi, WLAN across the globe is driving the wireless sensor market.

North America to Hold a Significant Market Share

• The United States is the largest consumer of wireless flow sensors in North America. Wireless flow sensors occupy a major share in the United States with significant demand from the water and wastewater industry.
• The market in the United States region is driven by technology with consumers preferring products offering the latest technology with reliable performance. Thus, flow meters are becoming extremely popular among the end-users in this country.
• Huge investments and legislative initiatives on wireless technology in countries such as the United States and Canada have fuelled the market growth in the North American region. Moreover, the augmentation of WSN (wireless sensor network) in the region is expected to bolster the market demand for these sensors.
• With many large companies being established players in the market, the United States remains one of the prominent regions for wireless flow sensors market in the globe.

Competitive Landscape

The wireless flow sensors market is fragmented. The market is dominated by major players. Constant innovation and development with the absence of technological standardization are making the market competitive. Some of the key players include Texas Instruments Incorporated, Honeywell International Inc., ABB Ltd., Siemens AG, Panasonic Corporation, General Electric, Emerson Electric Company, Analog Devices Inc., STMicroelectronics, Microchip Technology Incorporated, among others.

• May 2019 - Panasonic started offering a broad range of inductive proximity sensors for metallic sensing applications. Panasonic’s separate amplifier type can handle high-speed operations. The company’s GX-F12A-P rectangular-shaped oil resistant inductive proximity sensor, part of its GX-F/H series, is said by the company to have “the longest stable sensing range among the same level of rectangular inductive proximity sensors in the industry.” The sensors are easy to install and different frequency types are available.
• January 2019 - At CES 2019 in Las Vegas, EnOcean, the world leader in energy harvesting wireless technology launched a new ceiling-mounted solar-powered occupancy sensor (PIR) for Bluetooth lighting control systems communicating via Bluetooth Low Energy (BLE). It will be the first self-powered Bluetooth occupancy sensor on the market integrating EnOcean’s field-proven energy harvesting technology and offering the best customer experience by being maintenance-free, freely positionable, highly flexible with easy installation.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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