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The expansion of the global wireless IoT sensors market is propelled by several factors, including the increasing adoption of connected wearable devices and the continual rise in internet penetration. However, potential obstacles to market growth lie in concerns related to data security and the inherent risk of operational failures.
Projections for the global wireless IoT sensors market indicate a robust Compound Annual Growth Rate (CAGR) of approximately 32.87% during the forecast period, aiming to reach a substantial valuation of USD 40,728.6 million by 2025. In the landscape of 2018, North America emerged as the dominant force, commanding a market share of 36.20%, closely followed by Europe and Asia-Pacific, with shares of 26.61% and 23.45%, respectively.
The market's comprehensive segmentation is based on type, component, technology, vertical, and region. Among these, the image sensor segment seized the forefront in 2018, securing a share of 14.25%, equivalent to USD 850.6 million. Forecasts anticipate the image sensor segment to sustain its dominance, projecting the highest CAGR of 31.71% from 2019 to 2025. In terms of components, the hardware segment took the lead with a commanding market share of 56.15% in 2018, translating to a value of USD 3,352.7 million. Expectations point to the hardware segment maintaining its prominence, with the highest projected CAGR of 32.66% from 2019 to 2025. In the realm of technology, the Wi-Fi segment led the market in 2018, holding a share of 27.40% and accounting for USD 1,635.8 million. Foreseen as the frontrunner, the Wi-Fi segment is anticipated to achieve the highest CAGR of 32.95% from 2019 to 2025. Moving on to verticals, the Industrial IoT segment dominated in 2018, claiming a share of 40.87% and contributing USD 2,440.5 million. This segment is poised to sustain its dominance, with the highest projected CAGR of 33.23% from 2019 to 2025.
While the growth prospects of the global wireless IoT sensors market appear promising, potential impediments loom, specifically related to concerns regarding data security and the risk of operational failures. As technological advancements drive the evolution of IoT sensors, stakeholders must navigate these challenges to harness the market's full potential. In summary, the market's trajectory is marked by significant growth, propelled by key drivers, yet tempered by challenges that necessitate strategic considerations for sustained success in this dynamic landscape.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 7.3 Billion |
| Market Size Value In 2023 | USD 9.2 Billion |
| Growth Rate | 24.9% (2023-2032) |
Wireless IoT Sensors Market Highlights:
Global Wireless IoT Sensors Market Overview:
Wireless IoT Sensors Market Size was valued at USD 9.2 Billion in 2023. The Wireless IoT Sensors industry is projected to grow from USD 11.49 Billion in 2024 to USD 68.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 24.91% during the forecast period (2024 - 2032). Increased demand for smartphones, home appliances, consumer electronics, vehicles, and defense products are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Wireless IoT Sensors Market Trends
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Increasing use of sensors in loT applications is driving the market growth
The utilization of sensors in Internet of Things (IoT) applications is on the rise, primarily because of the decrease in cost and size, as well as advancements in technology. The adoption of microelectromechanical systems (MEMS) technology has contributed to the reduction in sensor size, making it feasible for sensors to be employed in various sectors including automotive, healthcare, and consumer products. As a result, the sensors market has experienced significant growth. Over the past five years, there has been a rapid deployment of smaller sensors in devices such as smartphones, drones, wearables, and robots. This factor drives the Market CAGR.
Additionally, governments around the world provide support and funding for Internet of Things (IoT) advancements since the government sector is expected to be a major consumer of IoT solutions. Governments seek advancements and innovations in key sectors like intelligent traffic management systems, energy conservation using smart meters, and enhanced security systems with the help of smart cameras. Additionally, governments are financially backing new research projects focused on building smart cities through IoT initiatives. This support is anticipated to be instrumental in the future growth of IoT. Thus, driving the Wireless IoT Sensors market revenue.
Wireless IoT Sensors Market Segment Insights:
Wireless IoT Sensors Component Insights
Based on components, the Wireless IoT Sensors Market segmentation includes Hardware, Service and Software. The hardware segment dominated the market because hardware is the essential Component of wireless IoT sensors, as it provides the physical capabilities for sensing, processing, and transmitting data.
Figure 1: WIRELESS IoT SENSORS MARKET SHARE BY COMPONENT, (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Wireless IoT Sensors Type Insights
The Wireless IoT Sensors Market segmentation, based on type, includes Image Sensors, Motion Sensor, Proximity Sensor, Pressure Sensor, Magnetometers, Humidity Sensor, Temperature Sensor, Touch Sensor, Accelerometers, Gyroscopes, Flow Sensor and others. The temperature sensor segment dominated the market; the temperature of air, water, and other gases can significantly impact the performance of machines and equipment. The temperature of patients can also be a critical indicator of their health. These providers offer a variety of temperature sensor solutions that can be the specific requirements of different applications.
Wireless IoT Sensors Technology Insights
The Wireless IoT Sensors Market segmentation, based on Technology, includes Wi-Fi, Bluetooth, ZigBee, NFC, Z-Wave, RFID others. The Wi-Fi segment dominated the market because Wi-Fi is a mature and widely adopted technology offering high data rates and long range. This makes it ideal for applications that require transmitting large amounts of data, such as video streaming and remote monitoring.
Wireless IoT Sensors Insights
Based on Vertical, the Wireless IoT Sensors Market segmentation includes Industrial IoT, Consumer lot, and Commercial loT. The industrial IoT segment dominated the market because industrial IoT applications are typically characterized by high data rates and long-range requirements, which are well-suited to wireless technologies such as Wi-Fi and ZigBee.
Wireless IoT Sensors Regional Insights
Segmented by region, the study provides market insights for North America, Europe, Asia Pacific and Rest of the World. The North American Wireless IoT Sensors market will dominate this market due to well-developed infrastructure conducive to adopting IoT technology. This includes a reliable power grid, a robust telecommunications network, and many data centers.
In addition, major countries examined in the report market include the United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea and Brazil.
Figure 2: WIRELESS IoT SENSORS MARKET SHARE BY REGION, (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Wireless IoT Sensors market accounts for the second-largest market share due to the high level of innovation and the presence of a large number of tech companies.. Further, the German Wireless IoT Sensors market held the largest market share, and the UK Wireless IoT Sensors market was the largest growing market in the European Region.
The Asia-Pacific Wireless IoT Sensors Market is witnessing to grow at the fastest CAGR from 2024 to 2032. This is because governments in the Region support IoT technology and invest in its development. This is helping to create a favorable environment for the adoption of wireless IoT sensors. Moreover, China’s Wireless IoT Sensors market held the largest market share, and the Indian Wireless IoT Sensors market was the largest-growing market in the Asia-Pacific region.
Wireless IoT Sensors Key Market Players & Competitive Insights
Leading manufacturers are investing in research and development to expand their products that will help the wireless IoT sensors market grow further. Entrepreneurs are also undertaking various activities to expand their global footprint, and key business development activities include new product development, contract deals, joint venture mergers and acquisitions, increased investment and collaboration with other organizations. To grow and survive in a more competitive and changing business environment, the wireless IoT sensor industry must provide quality products.
Manufacturing locally to minimize operational costs is one of the major business tactics manufacturers use in the global Wireless IoT Sensors industry to benefit clients and increase the market sector. The Wireless IoT Sensors industry has offered some of the most significant advantages in recent years. Dominant players in the Wireless IoT Sensors market, including Honeywell International Inc. (US), NXP Semiconductors (Netherlands), Omron Corporation (Japan), TDK Corporation (Japan), Broadcom Inc. (US), Analog Devices, Inc. (US), Murata Manufacturing Co., Ltd (Japan), FUJITSU (Japan), SmartThings Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (US), TE Connectivity (Switzerland), Infineon Technologies AG (Germany), Robert Bosch GmbH (Germany), and Sony Corporation (Japan)., and Other companies are trying to meet their business needs by investing in R&D activities.
TE Connectivity is an American technology company headquartered in Switzerland that designs and manufactures connectors and sensors.TE Connectivity offers LVDT position sensors. These sensors provide standard and custom solutions based on hydraulic application requirements for ICT field equipment and machinery.
Texas Instruments Corporation is an American technology company headquartered in Dallas, Texas, that designs and manufactures electronic devices and a variety of integrated circuits and sells them to electronics manufacturers and manufacturers worldwide. Texas Instruments (TI) presents the industry's first zero-slip Hall-effect current sensor. The TMCS1100 and TMCS1101 provide the lowest and highest accuracy in time and temperature while providing 3kVrms isolation, which is especially important for AC or DC high voltage systems such as drives, solar inverters, energy storage and power supplies.
Key Companies in the Wireless IoT Sensors market include
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Honeywell International Inc. (US)
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NXP Semiconductors (Netherlands)
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Omron Corporation (Japan)
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TDK Corporation (Japan)
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Broadcom Inc. (US)
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Analog Devices, Inc. (US)
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Murata Manufacturing Co., Ltd (Japan)
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FUJITSU (Japan)
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SmartThings Inc. (US)
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Texas Instruments Incorporated (US)
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STMicroelectronics (US)
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TE Connectivity (Switzerland)
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Infineon Technologies AG (Germany)
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Robert Bosch GmbH (Germany)
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Sony Corporation (Japan)
Wireless IoT Sensors Industry Developments
July 2020: Texas Instruments (TI) presents the industry's first zero-slip Hall-effect current sensor. The TMCS1100 and TMCS1101 provide the lowest and highest accuracy in time and temperature while providing 3kVrms isolation, which is particularly important for AC or DC high voltage systems such as motor drives, solar inverters, energy storage and power supplies.
June 2020: TE Connectivity offers LVDT position sensors. These sensors provide standard and custom solutions based on hydraulic application requirements for ICT field equipment and machinery.
Wireless IoT Sensors Market Segmentation:
Wireless IoT Sensors Component Outlook
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Hardware
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Service
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Software
Wireless IoT Sensors Type Outlook
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Image Sensor
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Motion Sensor
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Proximity Sensor
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Pressure Sensor
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Magnetometer
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Humidity Sensor
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Temperature Sensor
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Touch Sensor
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Accelerometer
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Gyroscope
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Flow Sensor
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Others
Wireless IoT Sensors Technology Outlook
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Wi-Fi
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Bluetooth
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ZigBee
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NFC
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Z-Wave
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RFID
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Others
Wireless IoT Sensors Vertical Outlook
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Industrial IoT
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Consumer lot
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Commercial loT
Wireless IoT Sensors Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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