Wireless Sensor Network Market size to reach $148.67 billion by 2026; RSL10 sensor Kit by ON Semiconductor to Bolster Growth

The global wireless sensor network market size is predicted to reach USD 148.67 billion by 2026. The increasing deployment of wireless sensor networks in various industrial automation will enable healthy growth of the market in the forthcoming years. Additionally, the increasing  government focus towards traffic management and surveillance & security will aid the wireless sensor network market expansion during the forecast period, mentioned in a report, titled “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, Flow Sensor, and Others), By Application (Home and Building Automation, Industrial Automation, Military Surveillance, Smart Transportation, Patient Monitoring, Machine Monitoring, and Others), By End-User (Automotive and Transportation, Aerospace and Defence, Oil and Gas, Healthcare, Manufacturing, Retail, Agriculture, and Others) and Regional Forecast, 2019-2026” the market size stood at USD 38.99 billion in 2018 and is predicted to exhibit CAGR of 18.3% during the forecast period.

Introduction of RSL10 sensor by ON Semiconductor to Propel Growth

ON Semiconductor, a global leader in semiconductors with products ranging from

power and signal management to LED lighting ,and power applications unveiled RSL10 sensor development kit, which is designed to provide engineering teams with an encompassing platform for developing IoT applications with cutting-edge smart sensor technology, and enabled by the industry’s lowest power Bluetooth Low Energy radio. The launch of the RSL10 Sensor Development Kit is likely to boost the wireless sensor network market trends during the forecast period owing to the wide-ranging advanced low power sensors from Bosch Sensortec to provide 9 degrees of freedom (DoF) detection and environmental monitoring, including ambient light, Volatile Organic Compounds (VOC), pressure, relative humidity and temperature. Moreover, the growing advanced infrastructure for planned cities in the developing countries will bolster healthy growth of the market. In addition, the focus of government towards industrial automation and smart city projects will also accelerate the wireless sensor network market share.

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https://www.fortunebusinessinsights.com/wireless-sensor-network-market-102625

Rising Security Concerns to Aggravate Market Share

The growing network connectivity has led to security breach and data intrusion, which in turn, will dampen market potential.  The surge in the number of devices and connections will intensify concerns for safety and security. Moreover, limited access to wireless network in rural areas will hamper the growth of the market. In addition, the growing concerns for the integration of wireless solutions for industry-specific applications owing to the lack of awareness will also  restrict the growth of the market in the forthcoming years.

Strategic Partnerships of Key Players will Spur Market Opportunities

The key players in the market are focused R&D investments to launch advanced and cost-effective wireless sensor networks for smart home applications. For instance, in 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. Key players are adopting strategic marketing techniques to remain dominant in the market. The focus of key players towards the automotive sector with an aim to enhance autonomous driving functionality will spur competition in the forthcoming years. In addition, investments in new start-ups to strengthen customer base and geographic expansion will augur well for the market. Nonetheless, companies are also fixed on enhancing their product port portfolio, which in turn, will consolidate the market.

The Report Lists the Main Companies in the Wireless Sensor Network Market

• xas Instruments Incorporated
• TE Connectivity
• Advantech Co., Ltd.
• ABB
• HONEYWELL INTERNATIONAL INC.
• Bosch Sensortec GmbH
• EUROTECH
• Infineon Technologies AG

Further Report Findings

• Regional Analysis: North America generated a revenue of USD 11.27 billion in 2018 and is predicted to grow rapidly owing to progressing industries in the region. Also, adoption of advanced technologies in the region will enable growth in North  America.
• Leading Segment:  The hardware segment held a share the lion’s share of 42.86% in 2018 and is predicted to remain dominant during the forecast period owing to the increasing use of sensor nodes, gateways, and routers in wireless network infrastructure.

The Wireless Sensor Network Market is Segmented into: