Information Communications Media Technology Market News

New study: Growing demand of wireless sensor network market for different industrial sectors

IT Market Research

The wireless sensor network (WSN) market was valued at USD 29.06 Billion in 2016 and is expected to reach USD 93.86 Billion by 2023, at a CAGR of 18.55%.

- Advertising -

The growth of this market is propelled by the development of cheaper, smarter, and smaller sensors; expanding market for smart and wearable devices; increasing need for real-time computing of applications; and surge in demand for IoT sensors for various applications such as sensing, recognition, and interpretation.

According to the research experts, the wireless sensor network (WSN) market was valued at USD 29.06 Billion in 2016 and is expected to reach USD 93.86 Billion by 2023, at a CAGR of 18.55% between 2017 and 2023. For more details, download this complete brochure:

The software components of WSNs (Wireless Sensor Networks) include platforms and solutions that are vital for applications such data collection or remote monitoring. Software solutions are designed to meet the interoperability challenges that arise due to varied heterogeneous devices, and to manage a large volume of data and their security and privacy.

- Advertising -

The WSN market, on the basis of sensor type, has been segmented into various sensors. Ambient light sensors have a wide range of applications in industries such as automotive, retail, wearable devices, and building automation.

Due to the extensive usage of these sensors in building automation, ambient light sensors held the largest share of the wireless sensor network market in 2016.

In comparison to other wireless connectivity technologies, NFC is a customized technology as it combines the interface of a reader and a smartcard into a single device. It enables two-way interactions between electronic devices, especially smartphones, allowing users to access digital content, make contactless payment transactions, and connect and share information between IoT-enabled electronic devices.

The WSN market, on the basis of end-user industry, has been segmented into building automation, wearable devices, healthcare, industrial, automotive & transportation, oil & gas, retail, agriculture, aerospace & defense, and BFSI.

The need for increased level of security, activity monitoring, and access control has led to the rise in the demand for WSNs. The high adoption of building automation systems to increase energy efficiency to save energy and costs is also contributing to the growth of the WSN market for building automation.

The wireless sensor network market in APAC is expected to grow at a high rate between 2017 and 2023. The global IoT market is growing at a high rate; in line with this, the market for IoT nodes and gateways in APAC is expected to grow at a higher rate compared with the market in other regions as majority of the global population is concentrated in APAC.

News From

MarketsandMarkets™ - Business ResearchMarketsandMarkets™
Category: Market Research Publishers and RetailersCompany about: MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth ...