The global wireless temperature sensors market size is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing adoption of process and monitoring automation in the industrial operations.
Wireless temperature sensor uses transmitter that converts signals from process instruments into a radio transmission. It helps end-users to utilize these sensors network protocols and algorithms to possess self-organizing capabilities.
Temperature sensors are used in diverse applications, such as smart homes, food processing, HVAC environmental control, medical devices, chemical handling, and engine monitoring. These sensors have a wide variety of applications in numerous sectors, including military and security, medical, building automation, industrial monitoring, and medical.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing number of government regulations to improve the safety in developed and developing countries is expected to foster the growth of the market.
- Growing requirement for smarter heating and cooling system in smart homes is expected to augment the global wireless temperature sensors market growth.
- Expensive nature of temperature sensors can restraint the growth of the market.
- Wireless temperature sensors can be affected by environmental changes and contamination, which in turn, can hinder the market growth.
- The outbreak of COVID-19 has negatively impacted the global wireless temperature sensors market. This is due to the stringent norms implemented across the globe to mitigate the spread of the virus, which led to the closedown of manufacturing facilities across the globe. However, declining number of cases and increasing vaccination is anticipated to help the market recover soon.
- Increasing investments in the industry to innovate and develop new sensor technologies and growing requirement to upgrade the existing infrastructure to support and integrate technologies are expected to create remunerative opportunities in the projected timeline.
Scope of the Report
The report on the global wireless temperature sensors market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Global Wireless Temperature Sensors Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
End-user Applications (Military and Security, Medical, Automotive, Industrial Monitoring, Building Automation, and Others)
North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
ABB Ltd, Schneider Electric SE, Emerson Electric Co., Siemens AG, and Honeywell International Inc.
Global Wireless Temperature Sensors Market Segment Insights:
Building automation segment to grow at a rapid pace
Based on types, the market is divided into military and security, medical, automotive, industrial monitoring, building automation, and others. The building automation segment is anticipated to account for a key market share and is anticipated to grow at a rapid pace during the forecast period. The integrated building solution system with wireless temperature sensors reduce energy consumption, improve energy efficiency management, and provide value-added functionality. This factor increases energy and operational efficiency and provides a level of occupant control unmatched by single-purpose and non-integrated systems.
The medical segment is anticipated to exhibit a high CAGR during the forecast period. Increasing burden on the healthcare sector and rising penetration of smart medical equipment are anticipated to proliferate the growth of the market segment.
North America to account a significant market share
On the basis of regions, the wireless temperature sensors market is segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to account for a significant market share during the forecast period. Rising number of smart factories and the presence of multiple industrial wireless temperature sensor manufacturers and system integrators in the different parts of North America are driving the growth of the market in the region. Construction developers are avoiding deployment of wired sensors and shifting toward wireless temperature sensors to reduce maintenance and increase space availability, bolstering the market growth in the region.
Segments Covered in the Report
The global wireless temperature sensors have been segmented on the basis of
- Military and Security
- Industrial Monitoring
- Building Automation
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- ABB Ltd
- Schneider Electric SE
- Emerson Electric Co.
- Siemens AG
- Honeywell International Inc.
The major players of the market are ABB Ltd, Schneider Electric SE, Emerson Electric Co., Siemens AG, and Honeywell International Inc.
Companies are investing and collaborating with local industry players to cater to the requirements. Moreover, they’re engaging in joint ventures and acquisitions to expand their market share.