PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182897
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182897
Battery-Free Sensors Market size was valued at USD 30.88 Million in 2021, expanding at a CAGR of 24.7% from 2022 to 2028.
Battery-free sensors are sensors that do not need batteries and work on the principle of radio frequency. It also measures and records parameters such as heat loss, temperature, and humidity. Additionally, it also provides strain and temperature measurements. Moreover, it does not include batteries and is used in different industries such as consumer electronics and smart homes. Furthermore, to power themselves, they can transform waves into energy and consume less power as compared to battery-powered gadgets. Due to the efficient flexibility, battery-free sensors are used to accomplish low-intensity lot. (Internet of Things)
The rising adoption of battery-free sensors in industrial applications to minimize operational costs and government initiatives to promote smart city projects are factors expected to drive the market demand for battery-free sensors during the forecast period. In the healthcare sector the increasing adoption of battery-free sensors for continuous monitoring. Additionally, in the automotive sector, the use of battery-free sensors increases productivity and efficiency. Thereby the use of battery-free sensors in these sectors is propelling the battery-free market growth. However, due to the high risk of security and data theft concerns such factors may hamper the market growth.
Furthermore, to achieve operational efficiency, battery-free sensors are gaining speedy growth due to the rising adoption of predictive maintenance technologies, growing competitive pressure, and ongoing industrialization. Manufacturers and supply chains are adopting lot and battery-free sensors. In addition, it provides benefits such as fitting their products with lot sensors based that are further tracked by manufacturers and supply chain once they leave the warehouse or building. Thus it is a lucrative opportunity for market expansion. The COVID-19 pandemic harmed the battery-free sensors market due to limited production. It affected the supply chain which further impacted the market growth; as a result, the global economy and business were disrupted.
The Global Battery-Free Sensors Market is segmented on the basis of frequency, sensor type, industry, and region.
The market is divided into three categories based on frequency: low frequency, high frequency, and ultra-high frequency (UFO). UFO sensors are expected to hold the largest market share. UFO sensors provide longer read ranges as compared to low-frequency and high-frequency sensors. Additionally, they can also be placed on metal and it enables many sensors that can be read by a single reader. These factors are propelling the UFO segment market.
The market is divided into five categories based on sensor type: humidity/moisture sensor, pressure sensor, temperature sensor, light sensor, motion and position sensor, and others. The light sensor segment is expected to hold the market share. Increasing use of RFID technology at the place of battery manufacture has reduced the size of sensors. Additionally, rising use of light sensors in devices such as drones, smartphones, and robots. That will help the light sensor segment grow.
The market is divided into seven categories based on industry: IT & telecommunications, oil & gas, logistics, automotive, health care, food & beverages, it & telecommunications, and others. The automotive segment is expected to dominate the market during the forecast period. Globally manufacturers are focusing on improving their product line and automating. Additionally in the automotive sector, automobile manufacturers are adopting battery-free sensors that aid in the effective handling of assembly procedures and provide predictive maintenance.
Market players concentrate on launches and product approvals through the use of innovations and advanced technologies. Strategies adopted by companies such as mergers & acquisitions, agreements, product Portfolio expansion, geographical expansion, and collaborations to enhance their market access. The factors that help in industry growth such as the growing industrialization, and rising adoption in various industries including healthcare and automotive. In addition, these devices are being utilized in various industries thereby propelling the market growth. Worldwide continuous technology advancements factor is responsible for market growth. The increasing adoption of a lot of applications in the industry further supports the market growth of the battery-free sensors market. Additionally, with the continuous reduction of medical and technological devices and in smart factories the rising adoption of automated monitoring systems is expected to benefit the market.
For instance, in May 2021, EVERACTIVE released a Steam Trap Monitoring (STM) solution. It is a new generation batteryless lot system and non-line-of-sight communications up to 820ft. using the evernet 2.0 wireless network. It allows a larger percentage of steam traps along with fewer gateways needed throughout a facility. Lot gateways capacity is increased by the company up to 1000 Eversensors.
The scope of this report covers the market by its major segments, which include as follows: