Wireless Sensor Network Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Services), By Sensor Type (MEMS Sensors, CMOS-based Sensors, LED Sensors, Motion and Position Sensor), By Application (Home and Building Automation, Industrial Automation, Military Surveillance, Smart Transportation), By End-User (Automotive and Transportation, Aerospace and Defence, Oil and Gas, Healthcare) and Regional Forecast, 2019-2026

The global wireless sensor network market size stood at USD 38.99 billion in 2018 and is projected to reach USD 148.67 billion by 2026, exhibiting a CAGR of 18.3% during the forecast period. The rising number of regulations and policies imposed by government agencies, such as Mine Safety and Health Administration (MSHA) has led to the implementation of wireless sensor networks across industries. The growing need for real-time data visibility among organizations across healthcare, automotive, manufacturing, and other sectors anticipated to flourish the market growth in the near future.

MARKET TRENDS

Traffic management, surveillance & security, safety among others would make wireless sensor networks (WSNs) vital

With increasing initiative for smart city projects and infrastructure development, worldwide are generating the demand for advanced sensors and networks to gain real-time information. These sensors assist in gaining insights regarding traffic optimization and air pollution. Further, smart city sustainability and green infrastructure are some vital factors that are expected to support the growth of the wireless sensor network market.

MARKET DRIVERS

Increasing Use in Autonomous Vehicles is Contributing to the Growth of the Market

The growing trend of autonomous vehicles has escalated the demand for these networks across the globe since such vehicles are mainly reliant on wireless technologies. These networks are used in various automotive applications, including automobile pollution control, car theft control, headlight intensity control, vehicle site detection, and vehicle health monitoring. Further, sensors installed in autonomous vehicles help in improving the interconnectivity and reduce maintenance task. Thus, the use of these networks is increasing in the automotive sector.

Growing Demand for Industrial Wireless Sensor Network Drives the Market Growth

Nowadays, industrial wireless sensor technology is gaining traction in the market, as it enables industries to remotely monitor and control numerous parameters such as temperature, pressure, and vibration. The wireless sensing technology allows enterprises to optimize operational cost and efficiency. It also helps businesses to achieve financial targets by offering advanced solutions and services. These factors accelerate the demand for low-cost industrial automation systems that positively influences the wireless sensor network market growth.

Also, this network provides several benefits over wired industrial monitoring and control systems such as rapid development, self-organization, flexibility, and intelligent processing capability. The reliable and self-healing capabilities of the wireless network that provide actionable insights to the real-time events are likely to fuel the market growth.

MARKET RESTRAINT

Rising Privacy and Security Concerns to Restrict Market Growth

The rate of data intrusions is increasing with the growing connectivity technology. The increasing number of devices and connections has made data safety more crucial. Due to this, newly developed network platforms are more complicated and comparatively less secure. Growing privacy and security concerns are identified as a key restraint for the market. The safety and security of enterprise data play an important role while integrating wireless solutions for industry-specific applications.

SEGMENTATION

By Component Analysis

Hardware Segment is Expected to Augment the Market

Based on the component, the global wireless sensor network market is divided into hardware, software, and services. The hardware segment held the highest market share in 2018 and is projected to dominate the market during the forecast period, owing to the increasing use of sensor nodes, gateways, and routers to create efficient network infrastructure.

The growing adoption of IoT and connected devices across numerous industrial applications contributes to the growth of the hardware segment. Furthermore, it can be easily deployed in technically unreachable locations, thereby offering them an edge over their conventional used wired counterparts. Also, the installation of the hardware enables easy integration of data that provides the centralization of monitoring applications.

By Sensor Type Analysis

Motion and Position Sensor segment is expected to augment the market

Based on the sensor type, the global wireless sensor network market is segmented into MEMS sensors, CMOS-based sensors, LED sensors, motion and position sensor, flow sensor, and others. Among these, the motion and position sensor held the largest market share in 2018 and is expected to continue during the forecast period. Position and motion sensors are used to measure the rotary position or linear position of the object using a whole range of sensing technologies. These sensors are integrated into different applications where it is essential to measure the movement of the object. The adoption of motion and position sensor is increasing as it enables highly accurate motion control, improves operational efficiency and safety of the moving objects.

By Application Analysis

Home Building and Automation Segment holds the highest market share

Based on the application, the global wireless sensor network market is further drilled into the home and building automation, industrial automation, military surveillance, smart transportation, patient monitoring, machine monitoring, and others. Among these, home building and automation is a dominating segment holding the largest market share. The increasing use of Wi-Fi and Zigbee to automate home applications through wireless connections fuels market growth. The wireless technologies are used to lower power and cost associated with the solution of automating the home.

By End-User Analysis

Home Building and Automation Segment holds the highest market share

Based on end-user, the global wireless sensor network market is segmented into automotive and transportation, aerospace and defense, oil and gas, healthcare, manufacturing, retail, agriculture, and others. The manufacturing segment held the largest market share in 2018, and it is expected to continue in the forecast period. Sensor nodes are mounted on various parts of machinery and plant to promote early fault detection and analysis. These sensor nodes enable sensing of the environment that are difficult to access. These sensors also help in determining the health of the overall machines and provide early warnings of potential failure. Thus, the demand for wireless sensor network is increasing rapidly in the manufacturing sector.

REGIONAL ANALYSIS

Geographically, the market is segmented across five major regions, namely North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. They are further categorized into countries.

North America wireless sensor network market held the highest share in 2018 owing to the high adoption of WSN, especially in the military and defense sector. Additionally, high competition among WSN key enterprises in adopting advanced technologies for developing wireless sensor networks with progressive features is expected to create lucrative growth opportunities for WSN market across the region. Further, demand for wireless sensor network will increase from the manufacturers of consumer electronics products such as smartphones and wearable devices, where wireless sensing technology is used prominently. Moreover, presence of large number of consumer electronics manufacturer in North America, would drive market growth in near future.  Europe, market holds the second highest position in the global market.

Asia Pacific wireless sensor network market is expected to grow at a pleasing rate in the forecast period owing to rising urbanization, increasing safety needs in the automotive sector and rapid industrial development. In addition to this, manufacturers from growing economies such as India, China, and Japan are implementing wireless sensors across various industries including agriculture, automotive, and healthcare, which will highly contribute to the growth of this market.

KEY INDUSTRY PLAYERS

Key players are focused on investments and introduce cost effective wireless sensor in market

Prominent players in the global wireless sensor network market are making investments in research and development to introduce advanced and cost-effective wireless sensor networks for smart home applications. Key players are initiating strategic partnerships to integrate and make progressions in wireless sensor network specially designed for the automotive sector to enhance autonomous driving functionality. Also, these companies are investing in new startups to strengthen their customer base and for geographic expansion. Additionally, the well-settled players working in the market are focusing on acquiring small players to enhance their product portfolio, which strengthens their market position.

List of Key Companies Profiled:

• PARKER HANNIFIN CORP


• Cisco Systems, Inc.


• NXP Semiconductors


• Huawei Technologies Co., Ltd.


• Texas Instruments Incorporated


• TE Connectivity


• Advantech Co., Ltd.


• ABB


• HONEYWELL INTERNATIONAL INC.


• Bosch Sensortec GmbH


• EUROTECH


• Infineon Technologies AG


• Analog Devices, Inc.


• Sensirion AG Switzerland

KEY INDUSTRY DEVELOPMENTS:

• December 2019: - Parker Hannifin Corporation, one of the global leaders in motion and control technologies, released a new family of proximity sensors that are used with electric actuators in a broad range of automation and motion control applications.


• May 2018: - LORD Corporation, operating as the subsidiary of Parker Hannifin Corporation, one of the global leaders in motion and control technologies, introduced WSDA-2000 wireless sensor data aggregator that helps in connecting high-speed sensor data directly to the cloud.

REPORT COVERAGE

The wireless sensor network market report provides detailed information regarding various insights into the industry. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the wireless sensor network trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2019 to 2026 to provide financial competency. The information gathered in the report has been taken from several primary and secondary sources.

Report Scope and Segmentation