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COVID-19 Impact on Wireless Sensor Network Market- Future Outlook Remains Positive and Expected to Reach USD 1.5 Billion by 2022


COVID-19 Impact on W

iCrowdNewswire   Jan 5, 2021  10:23 AM ET

Market Research Future published a research report on “Wireless Sensor Network Market Research Report – Global Forecast till 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Wireless sensor networks (WSNs) are a group of sensors which are dispersed in geographically distant locations. These can record the conditions of the surrounding and transmit the findings to a centralized location. The topology of the network is defined by the application and its usage. The global wireless sensor network market report by Market Research Future (MRFR) focuses on market forces in the likes of drivers, restraints, trends, opportunities, and challenges for the period of 2016 to 2022 (forecast period). The COVID-19 outbreak and its effect on the industry are also noted in the report.

Market Scope

The global Wireless Sensor Network Market is expected to grow at a CAGR exceeding 14% over the forecast period. Its size can balloon to USD 1.5 billion by 2022.

The growing automation across all industries and the need for real-time monitoring can drive the demand for WSNs during the forecast period. Miniaturization of consumer electronic devices and its components such as actuators have driven the market growth. This is evident by the consumption of smartphones amid the rise of evolution of communication network technologies. Evolution of LTE networks and 4G enabled phones have paved the way for growth for the Wireless Sensor Network market.

The large scope of internet of things (IoT) and delivery of mobile applications for catering to customers across sectors of transportation, agriculture, and healthcare can fuel the wireless sensor network market demand significantly. The success of IoT in a 5G environment as exemplified by experiments by Nokia and Ericsson in India can spell a good return on dividends by the end of the forecast period. 

Competitive Outlook

General Electric Company, Siemens AG, ST microelectronics, Emerson Electric Co., Yokogawa Electric Corporation, Endress+Hauser AG, Texas Instruments, Schneider Electric SA, Honeywell International Inc., ABB Ltd., and others are key players of the global wireless sensor network market.

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Segmentation

The global wireless sensor network market can be segmented by technologies, sensors, application, type, and topologies.

By technologies, it is segmented into WirelessHART, Wi-Fi, Bluetooth, and others.

By sensors, it is segmented into image & surveillance, pressure, flow, humidity, temperature, and others.

Major applications of the global wireless sensor network market include environment monitoring, food & beverage, oil & gas, Industrial, entertainment, precision agriculture, military, mining, healthcare, transport, and others. The industrial application is expected to garner significant revenues for the market owing to evolution of artificial intelligence, big data analytics, and machine learning and modernization of infrastructure. The ability to measure data in large volumes from sensors of flow, motion, pressure, temperature, and others can drive the demand in the global wireless sensor network market. On the other hand, the agriculture application can have a major market share for measuring the nutrient level and supporting the yield of high-quality crops. 

By type, it is segmented into multimedia, mobile, terrestrial, underground, underwater, and others.

By topologies, it is segmented into mesh, tree, and star.

Regional Analysis

North America is dominating the global wireless sensor network market with the largest market share due to high adoption of WSNs especially by the U.S. military and presence of major players such as Emerson Electric, Honeywell International, and Texas instruments among others. The large demand for energy can drive the need for these sensors in the energy sector for implementation of energy conservation solutions. Furthermore, the huge demand for WirelessHART and installation of wireless networks for monitoring purposes can bode well for the regional WSN market.

APAC is estimated to be the fastest growing region in global wireless sensor network market followed by Europe. Rise in smart manufacturing in India, Taiwan, and China can influence the market growth in the region.

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