Market Research Report
Wireless Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
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|Wireless Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: June 10, 2019||Content info: 107 Pages||
The global wireless sensors market reached a value of US$ 3.7 Billion in 2018. Wireless sensors are standard measurement tools that are equipped with transmitters that can convert signals from process control instruments into a radio transmission. Originally conceptualized for military use, these networks now have wide ranging applications in civilian, industrial, and consumer markets. These extend from preventing trespassing to monitoring building strength and evaluating water quality to measuring individual heart rate.
Wireless sensors are also used in areas that are difficult to access due to severe environment conditions such as high temperature, pH, pressure, etc. With the help of wireless sensors, operators can constantly supervise processes in extreme environments and report the information back to an operator in a monitoring facility that may be located at a safe distance away. They are also convenient for acquiring data in difficult to access locations. The radio signal is interpreted by a receiver that further converts the wireless signal into a particular, required output, such as an analog current or data analysis via computer software.
Over the past few years, various new technological advancements have been made on account of which there has been a significant improvement in the overall performance of wireless sensors. This has given a rise to the use of these sensors across numerous end-use industries such as food and beverage, automation, and defence. Wireless sensors are also utilised for various purposes like forest fire detection, water management and flood detection. They are also beneficial for monitoring greenhouse gas emission as well as pest and disease detection. Furthermore, wireless sensors generate a significant quantity of data that can yield actionable insights, catalysing continuous process improvement.
Implementation at scale, nevertheless, is not without its roadblocks. The development of cost effective, ubiquitous sensor networks primary depends upon the speed and quality of technological advancement, alternate methods of power supply, and the advancement of technical regulations and standards. Looking forward, the global wireless sensors market value is expected to reach US$ 11.7 Billion by 2024, exhibiting a CAGR of 21.4% during 2019-2024.
6 Market Breakup by Product Type
List of Figures