Wireless Sensor Network Market - Forecast 2021 - 2026
The Wireless Sensor Network Market is forecast to reach $94.21billion by 2025, estimated to grow at a CAGR of 15.47% from 2020 to 2025. Wireless Sensor Network Marketis primarily driven by the growing demand of automated systems. Automated systems has several benefits such as less human error, better productivity and others, which is driving the growth of WSN market. The introduction of advance technology such as artificial intelligence (AI), internet of things (IoT) and fifth generation wireless technology 5G, which is going to boost the WSN market. The cheaply availability of sensor and its uses in various electronics devices, is driving the growth of WSN market in industrial, healthcare, home automation and others. Additionally increasing demand of electric vehicle and self driving vehicle or autonomous vehicle, this is going to use wireless sensor network on large scale, which is going to boost the WSN market.
Key Takeaways
- The increasing demand of Industrial automated systems is driving the growth of wireless sensor network market, as it has wide application various industries for better efficiency, is going to provide huge growth to WSN market.
- The introduction of advance technology such IoT and artificial intelligence is going to increase the application wireless sensor network in healthcare, home automation, smart city and others , which is going to provide huge growth to WSN market,
- Highlyadoption of advance technologies, due to availability of resources is going to boost the WSN market in North American countries such as U.S and Canada are using IoT in various sector, which is goingto provide huge Wireless Sensor Network Market in this region.
Application- Segment Analysis
The application of wireless sensor network (WSN) used in military surveillance followed by home automation is estimated to provide huge growth to WSN market during the forecast period. The use of wireless sensor network rising at good speed, due its application in various military operations such as Chemical, biological and explosive vapor detection, missile canister continuous monitoring and others, which is going to provide huge growth to WSN market. Moreover the cheaply availability of sensors and Introduction internet of things (IoT) is going provide huge growth to WSN market in home automation. Additionally, introduction of robots in military, which is going to use wireless sensor network for various application,which is going to boost WSN market.
End User- Segment Analysis
Automotive industryis expected to grow at a CAGR ofx% during the forecast period, which is going to provide huge growth to wireless sensor network market. The use smart features such as artificial intelligence (AI), Internet of things (IoT) in electric vehicles is increasing with rapid speed. The growing use of smart phones connectivity with automotive for benefit such as real time monitoring, is going provide huge growing to provide huge growth to WSN market. Moreover, application of wireless sensor network in of wireless charger for electric vehicle is going to boost WSN market. Additionally, introduction of self driving car or autonomous vehicleis going to boost the WNS market.
Geography - Segment Analysis
The Wireless Sensor Network Market is dominated by North America and itis expected to grow at 23.1% during the forecast period. The presence of countries such as U.S and Canada, which adopts advance technology such as artificial intelligence (AI) and internet of things (IoT)very readily, due availability of resources which going to provide huge growth to WSN market. The use wireless sensor network in military monitoring by countries such as U.S is going to provide huge growth to WSN market. Additionally, government of U.S is promoting the use internet of things (IoT) devices for smart factories, smart home devices, medical monitoring devicesand others, which going to provide huge growth to WNS market in this region.
Drivers – Wireless Sensor Network Market
- Increasing use of Automated System
The increasing use of automated systems in various industrial verticals is one of the driving factors Wireless Sensor Network (WSN) Market. In manufacturing industries the use automated systems is increasing rapidly, as it reduces human errors and provides better efficiency, which is going to provide huge growth to WSN market. Similarly use of automated systems in agriculture, chemical and other industries for fetching data from far distance for the safety of the employees is going to boost WSN market.
- Introduction of Advance technologies
The introduction of smart technologies such as Artificial Intelligence (AI), internet of things (IoT) in 5G is going to boost the wireless sensor network market. The use IoT is increasing rapidly in home automation, Industries, automotive and other applications for better fetching data from far distanceis going to boost the WSN market. Similarly many industries are utilizing AI for better work efficiency, by use of different sensors, which is going to provide huge growth to WSN market. Additionally with the introduction of 5G is going to provide faster connectivity of sensor based devices located at far distance and increasing the working efficiency, which is going to boost WSN market.
Challenges – Wireless Sensor Network Market
- High Power consumption by Sensors
The sensors used in wireless sensor network requires power to operate and process various operations, which is acting as a hindrance in the growth WSN market. The most of the energy stored in the attached battery is consumed during data transmission, which is restricting the growth of wireless sensor market. Additionally various sensors are located at remote location, which requires energy for remaining active, which results in loss of energy.
Market Landscape
Launches, joint venture and R&D activities are key strategies adopted by players in the Wireless Sensor Network Market. Wireless Sensor Network Market is expected to be dominated by major companies such Worldsensing, IDS GeoRadar, NXP semiconductors, GE, Texas Instruments and other.
Joint Venture/Launches
- In March 2020, Worldsensing and IDS GeoRadar, has launchedIoT-based wireless mining monitoring system, which is going to reduce the cost and delay related with traditional read sensor network, which is going to provide huge growth to WSN market.
- In February 2020,NXP Semiconductors has launched JN5189 and JN5188 IEEE 802.15.4 wireless microcontrollers (MCUs), which are be to used in smart home, building automation, and others, which is going to provide huge growth to wireless Sensor Network Market.
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