Market Research Future Insights
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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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.
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.
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), and Lucence Diagnostics Pte Ltd. (California).
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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.
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