Global Industry Analysts Predicts the World Wireless Sensors Market to Reach $10.1 Billion by 2026

SAN FRANCISCO, Feb. 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Wireless Sensors - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 18; Released: February 2022
Executive Pool: 10196
Companies: 129 - Players covered include ABB Ltd.; Emerson Electric Company; Endress+Hauser AG; General Electric Company; Honeywell Sensing and Control; Rockwell Automation, Inc.; Schneider Electric SA; Siemens AG; STMicroelectronics NV; Texas Instruments, Inc.; Yokogawa Electric Corporation and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Automotive & Transportation, Healthcare, Aerospace & Defense, Energy, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Wireless Sensors Market to Reach US$10.1 Billion by the Year 2026
Wireless sensor networks are groups of dedicated and spatially distributed sensors that monitor and record the environment's physical situations and enable centralized organization of the collected information. Wireless sensor networks can be easily deployed and they are much cheaper compared to traditional wired networks. WSN emerged as a suitable option for the industrial sector, owing to its high return on investments and low replacement costs, which in turn increase the scalability and reliability of the mesh networking. The major factors driving growth include the increasing need for remote monitoring; and the growing market for end-user industries, including aerospace & defense, automotive & transportation, BFSI, and healthcare. The increasing adoption of wireless sensor networks by the health care industry is driven by the critical role that these networks play in the development of new technologies for supporting diagnostics, therapy and in patient monitoring. As health care systems develop, the demand for medical devices capable of measuring routine activities and leveraging sensors installed in emergency rooms for collecting critical data, as well as for data analytics solutions, is expected to increase.

Amid the COVID-19 crisis, the global market for Wireless Sensors estimated at US$5.8 Billion in the year 2022, is projected to reach a revised size of US$10.1 Billion by 2026, growing at a CAGR of 14.1% over the analysis period. Automotive & Transportation, one of the segments analyzed in the report, is projected to grow at a 15.6% CAGR to reach US$3.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Healthcare segment is readjusted to a revised 18.3% CAGR for the next 7-year period. This segment currently accounts for a 20.9% share of the global Wireless Sensors market. The emerging adoption of wireless pressure sensors by the automotive and health care industries is the primary factor fueling growth within the wireless pressure sensors market. Utmost reliability and high quality are always the priority of automotive industry. because of emerging applications, including vehicle dynamics control, tire pressure monitoring, external airbag deployments, offline navigation, and so on, wireless pressure sensors are being increasingly adopted by the automotive industry. The healthcare industry is continuously taking measures for developing advanced technology with enhanced designs for continuous patient monitoring, which fuels the market in the next years.

The U.S. Market is Estimated at $1.6 Billion in 2022, While China is Forecast to Reach $1.8 Billion by 2026
The Wireless Sensors market in the U.S. is estimated at US$1.6 Billion in the year 2022. The country currently accounts for a 28.3% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2026 trailing a CAGR of 20.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10% and 12.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.3% CAGR while Rest of European market (as defined in the study) will reach US$404.6 Million by the end of the analysis period.

Growing Opportunity for Building Automation Opens New Growth Avenues
Usage of wireless sensors for building automation emerged as a trend in Europe, which can be easily adapted to suit the varying floor plans. There is a huge potential for increasing the reliability and quality and reducing the cost and attenuation of such sensors. European researchers are using remote sensing systems in a wide range of applications such as study of stress and displacement in civil structures. The advantage of using such systems is that, if sensing area is spread over a wide area, measurements can be taken from another location, which falls under the safe zone. European researchers are developing wireless sensors to work in such environments, where it is not possible for other sensors to work, and can be controlled by remote controls. Researchers of Italy use wireless local area networks or WLAN for distributed sensor applications, and work at low-power radio frequency. These features simplify the installation procedures and help in attaining expandability and modularity in certain circumstances, where the installation of standard communication links turns out to be a difficult task. Wireless micro-sensors, radio, and embedded processors are now used in distributed wireless sensing in a wide range of applications such as wireless communication.

Aerospace & Defense Segment to Reach $1.6 Billion by 2026
With the ever-rising budget on defense, wireless sensors are a growing technology area with a wide scope of application in the aerospace & defense industry. It is vital to monitor the integrated vehicle health monitoring (IVHM) of aerospace vehicles for the safety of the crew and the vehicle. Different types of sensors are utilized for various purposes. For instance, pressure sensors check the pressure in the cabin of the aircraft, temperature sensors check the temperature of the engine as well as motor parts. In the global Aerospace & Defense segment, USA, Canada, Japan, China and Europe will drive the 12.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$602.1 Million will reach a projected size of US$1.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$179.8 Million by the year 2026, while Latin America will expand at a 13.2% CAGR through the analysis period. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
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Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.