Wireless IoT Sensors Market Reach USD 142 Billion at 30% CAGR by 2030- Report by Market Research Future (MRFR)
Research Reports
Mar 09, 2023
According to MRFR analysis, the global Wireless Iot Sensors Market is expected to register a CAGR of 30% from 2022 to 2030 and hold a value of over USD 142 Billion by 2030.
Sensors are key components in IoT solutions. They are devices that detect external information and then convert it into a signal that humans and machines can interpret. This ability to collect data in almost any situation has made IoT sensors indispensable in industries such as healthcare, agriculture, disaster prevention, and regional businesses. COVID-19 has had a major impact on both consumers and economies. Manufacturing hubs have been temporarily working at low efficiency to contain COVID-19 spread. This has majorly affected the supply chain of the market by creating shortages of materials, components, and finished goods. Lack of business continuity has ensured significant negative impacts on shareholder returns and revenue, which are expected to create financial disruptions in the IoT sensors industry.
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Wireless IoT Sensors Market Key Players
Some of the key market players are-
- Thermo Fisher Scientific, Inc. (US)
- Hardy Diagnostics (US)
- BNTX Inc. (Germany)
- Formlabs (US)
- Medline Industries, Inc. (US)
- Puritan Medical Products (US)
- HiMedia Laboratories (India)
- VIRCELL S.L. (Spain)
- COPAN Diagnostics (California)
- Becton, Dickinson, and Company (US)
- Laboratory Corporation of America Holdings (US)
- Lucence Diagnostics Pte Ltd. (California).
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Wireless IoT Sensors Market Regional Analysis
North America is expected to dominate the wireless IoT sensors market during the forecast period. The increase in the adoption of these sensors in industrial automation, medical, transportation, logistics & supply chain, and consumer electronics industries is driving the market growth. Europe held the second-largest share of the wireless IoT sensors market in the past but is experiencing high growth rates now due to the increasing innovation in smart homes.
Wireless IoT Sensors Market Segmentation
The global Wireless IoT Sensors market has been segmented into Type, Technology, and Vertical.
Based on Type, the market has been segmented into Image Sensors, Motion Sensor, Proximity Sensor, Pressure Sensor, Magnetometer, Humidity Sensor, Temperature Sensor, Touch Sensor, Accelerometer, Gyroscopes, Flow Sensor and others. The image sensor segment dominates the global market, as such sensors are used in standalone and embedded cameras, a few imaging devices, thermal imaging devices, biometric & IRIS devices, and night vision equipment. The most widely used image sensors are charged coupled device (CCD) sensors and complementary metal-oxide-semiconductor (CMOS) sensors.
Based on Technology, the market has been segmented into Wi-Fi, Bluetooth, ZigBee, NFC, Z-Wave, RFID others. Wi-Fi technology is the backbone of the IoT industry, as it allows various devices to connect and communicate with each other wirelessly. Wi-Fi sensors are used in a variety of applications, such as digital signage and indoor security cameras, as it offer greater coverage and scalability than other types of sensor technologies.
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Based on Vertical, the market has been segmented into Industrial IoT, Consumer IoT, and Commercial IoT. Industrial applications also make use of sensors for various purposes, such as monitoring physical, chemical, and biological signals. By using sensors, industries can more accurately measure and record various physical parameters of their processes.
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