The report of global wireless IoT sensors market by Component (Hardware, Service, Software), Type (Image Sensor, Motion Sensor, Proximity Sensor, Pressure Sensor), Technology (Wi-Fi, Bluetooth, ZigBee, NFC, Z-Wave, RFID, Others), Vertical (Industrial IoT, Consumer IoT, Commercial IoT), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 34% during a forecast period.
Wireless IoT sensors are measurement tools, which used to monitoring and recording the physical conditions of the environment. The global wireless IoT sensors market is driven by the increasing adoption of wireless technologies and rise of smart factory concepts. However, the higher security needs and cost related with the sensors are restraining the market growth at the global level.
Supportive government initiatives and financing for IoT ventures, and high adoption of IoT by small and medium-sized businesses are expected to create beneficial opportunities for the key player in the market during the forecast period. High power consumption by connected devices and absence of common protocols and communication standards are the major challenge for the wireless IoT sensors market in the near future.
WI-FI segment is expected to grow at the highest XX% CAGR during the forecast period.
In 2019, the WI-Fi segment has dominate the Wireless IoT sensors market and is estimated to grow at a CAGR of XX% during the forecast period. The wireless IoT sensors help to interface the devices through Wi-Fi. Wi-Fi technology can interface to several IoT devices and send temperature readings to Private EyePi, or additional observing applications. Wi-Fi technology is referred to in various applications like digital signages and indoor security cameras, as it offers coverage, scalability, and power consumption.
The North America dominated the wireless IoT sensors market in 2019
In 2019, North America held the XX% share of the wireless IoT sensors market and is expected to maintain its dominance during the forecast period thanks to the existing infrastructure and presence of major players in this region. The increase in the adoption of these sensors in industrial automation, medical, transportation, consumer electronics industries, and logistics & supply chain are driving the regional market growth. In 2019, Europe held the second-largest market of XX% in 2019 owing to the rising development in smart homes and gaming applications and the rising utilization of IoT sensors in assembling enterprises. In terms of both value and volume, the Asia Pacific region will record a significant CAGR of XX% during the forecasted period. Asia-Pacific is the largest region in the electrical and electronics producing market. The region is also a huge merchant of wireless sensor technologies, particularly in China and Japan.
Key players operating the global wireless IoT sensors market are Honeywell International Inc., NXP Semiconductors, Omron Corporation, TDK Corporation, Broadcom Inc., Analog Devices, Inc., Murata Manufacturing Co., Ltd, FUJITSU, SmartThings Inc., Texas Instruments Incorporated, STMicroelectronics, TE Connectivity, Infineon Technologies AG, Robert Bosch GmbH and Sony Corporation.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Wireless IoT sensors Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Wireless IoT sensors Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Wireless IoT sensors Market positioning of competitors.
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