Latest News- Wireless Sensor Network (WSN) Market: Hardware is expected to lead the Component segment during 2024-2028

The Wireless Sensor Network (WSN) Market is being driven by Increasing adoption of industry 4.0

The Wireless Sensor Network (WSN) Market is expected to grow at a CAGR of 17.71% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 110.73 billion. The global market for Wireless Sensor Networks (WSNs) is experiencing significant growth, driven by the increasing adoption of wearable technologies. Wearables, which include smartwatches, smart glasses like Google Glass, smart fabrics, heart rate monitors, and fitness trackers such as Fitbit Surge, represent a mobile form of communication technology that can be attached to a body part for continuous monitoring of daily activities and providing communication services. Infineon Technologies, a leading manufacturer of magnetic sensors, is among those investing in the development of MEMS sensors to support this burgeoning industry. The wearable technology sector is poised for substantial expansion, with numerous businesses exploring its potential applications across various industries. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Hardware
  • Software
  • Services
• End-user
  • Building automation
  • Wearable devices
  • Healthcare
  • Automotive and transportation
  • Others
• Geography
  • North America
    • US
  • APAC
    • China
    • Japan
  • Europe
    • Germany
    • UK
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing adoption of industry 4.0
• Emergence of self-driven car technology
• Increasing demand for wireless sensors by smart manufacturing processes

However, the market also witnesses some limitations, which are as follows:

• Growing challenges in delivering high quality wireless sensor networks at low cost
• Effect of temperature on sensor operations
• Increased dependence of drivers on safety systems

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Market Scope in Wireless Sensor Network (WSN) Market Research Report

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Research Analysis Overview

The Wireless Sensor Network (WSN) market encompasses technologies such as Robotics, IoT (Internet-of-Things), and AI (Artificial Intelligence). Sensor manufacturers play a crucial role in supplying components for this industry, including Ambient Light Sensors, Temperature Sensors, Heart Rate Sensors, Pressure Sensors, and Image sensors. WSN applications span from Smart Cities and Autonomous Vehicles to Wearable Sensors and Body Area Networks. Zigbee-based systems facilitate communication between Heterogeneous devices in various sectors like Remote Monitoring, Building Automation, Security Systems, Access Control Systems, and Video Surveillance. Both Hardware, Software, and Services contribute to the growth of this dynamic market.

Market Research Overview

The Wireless Sensor Network (WSN) market is a significant segment of the larger Communications Equipment Market. This market encompasses manufacturers of sensor technology, including those specializing in robotics, Internet-of-Things (IoT) applications, and Zigbee-based systems. Key verticals driving growth include smart cities, autonomous vehicles, and wearable sensors for Body Area Networks. Technavio's analysis of the Communications Equipment Market includes revenues from communication, broadcasting, and telecommunication equipment, as well as investments in infrastructure improvement by service providers. The market size excludes cellular phone manufacturers. Factors fueling market expansion include the proliferation of data centers, necessitating advanced communication infrastructure, and the increasing adoption of AI technologies in various industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/