Wireless Sensor Market Size, Share, Growth Analysis, By Offering(Hardware, Software), By Sensor Type(Ambient Light Sensors, Motion & Position Sensors), By Connectivity(Wi-Fi, Bluetooth), By End-Use(Automotive, Transportation) - Industry Forecast 2024-2031

Wireless Sensor Market size was valued at USD 15.5 billion in 2019 and is poised to grow from USD 18.69 billion in 2023 to USD 100.88 billion by 2031, growing at a CAGR of 20.6% in the forecast period (2024-2031).

Key companies are investing in research and development to launch advanced sensors with specialised features for a wide range of industrial applications. Furthermore, to strengthen their market position, the majority of well-established companies in the Wireless sensor market are focusing their efforts on acquiring new start-ups. The top players are currently focusing on increasing their sales capacity while also expanding their geographical boundaries. These players are also involved in introducing the latest update series of these sensors with improved operational efficiency and low cost to gain a competitive advantage. Market participants are also raising funds from a variety of investors to meet their financial needs. For instance, Everactive, a provider of IoT solutions, has raised $35 million in funding to develop an innovative line of battery-free wireless sensors. The funds will be used for marketing, research, product development, and testing for industrial applications. 'Texas Instruments', 'STMicroelectronics', 'NXP Semiconductors', 'Infineon Technologies', 'Analog Devices Inc.', 'TE Connectivity', 'Honeywell International Inc.', 'Bosch Sensortec GmbH', 'Siemens AG', 'Broadcom Inc.', 'Sensirion AG', 'Murata Manufacturing Co. Ltd.', 'Omron Corporation', 'Memsic Inc.', 'LORD Sensing Systems', 'Libelium Comunicaciones Distribuidas S.L', 'Emerson Electric Co.', 'Yokogawa Electric Corporation', 'Monnit Corporation', 'ABB Ltd.'

Wireless Sensor Market to be Driven by Rapid Adoption of IOTs and Smart-gadgets

IR Wireless sensors have traditionally been used in a wide range of defence applications, including optical target spotting and variable emittance measurements, both of which are frequently useful in tracking activities. However, due to the increase in military spending, all of these application areas are very innovative and have a consistent demand. However, infrared Wireless sensors, like all other sensors on the market, have recently seen increased demand from the manufacturing sectors, primarily as a result of the widespread implementation of Industry 4.0 policies.

In 2021, North America held a market share of more than 32%. The growing emphasis on energy conservation in the United States and Canada is expected to drive growth in the North America wireless sensors market during the forecast period. Conserving energy is critical for reducing environmental impact and carbon footprint. In the energy industry, wireless sensors are used to precisely measure stationary and portable weather conditions, wind energy systems, weather stations, building design aerodynamics, and high-altitude weather research balloons. They are also used to monitor automotive emissions, water pollution devices, and mercury sampling from smokestacks. Furthermore, sales of zero power wireless sensors are increasing because they are needed in energy processing low power management to monitor output power and conserve energy.