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Wireless IoT Sensors Market Trends To Increase Valuation With Surging Investments By 2025

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Wireless IoT Sensors Market Trends To Increase Valuation With Surging Investments By 2025

Wireless IoT Sensors Market Trends

The global wireless IoT sensors market is expected to gain a value of USD 40,728.60 million by 2025, with 32.87% CAGR during the forecast period (2019–2025).

The report covers segmentation and market dynamics for a better glimpse of the market in the coming years. Wireless IoT sensors are standard measurement tools that are equipped with transmitters to convert signals from process control instruments into a radio transmission. IoT devices are mainly used for collecting performance and environmental data from sensors attached to devices either by performing a rudimentary analysis in a proximity network close to the devices or by passing the data via some form of network to an on-premise enterprise or cloud platform. The main advantages of these sensors are increased safety, convenience, low cost, low-level maintenance, and a small amount of power to function.

Regional Analysis

By region, the market is segmented as North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to lead the wireless IoT sensors market during the forecast period, followed by Europe. The increase in the adoption of these sensors in industrial automation, medical, transportation, logistics & supply chain, and consumer electronics industries dominates the market. Furthermore, the presence of various key players in the US drives the growth of the wireless IoT sensors market in the region. 

In the US and Canada, the high demand for IoT devices and communication networks in the energy and manufacturing industries is a major factor increasing the demand for wireless IoT sensors. The global market for wireless IoT sensors is expected to reach USD 40,728.60 million at a CAGR of over 32.87% by the end of the forecast period.

Segmental Analysis

The global market for wireless IoT sensors is segmented based on component, type, technology, and vertical. On the basis of component, the market is segmented into hardware, service, and software segments. The hardware segment dominates the market. The segment includes a lighting control system, heating, ventilation, and air conditioning (HVAC), security & access control system, fire protection system, lighting control system, and others. 

These systems require enhanced accuracy, system activation, lower power consumption, data security, easy communication, detection of support-specific goals and actions. The selection of hardware is based on various criteria, such as resolution, conversion speed, power requirements, physical size, processor compatibility, and interface structure. Thus, the growing demand for electronics devices and an increase in the adoption of IoT further grows the demand for hardware for wireless IoT sensors. The hardware segment accounted for the largest market share of 56.15% in 2018, with a market value of USD 3,352.7 million; it is expected to register a CAGR of 32.66% during the forecast period.

More Information@ https://www.marketresearchfuture.com/reports/wireless-iot-sensors-market-8269

Competitive Analysis

Some of the prominent players operating in the global wireless IoT sensors market report are Sony Corporation (Japan), HONEYWELL INTERNATIONAL INC. (US), NXP Semiconductors (Netherlands), Omron Corporation (Japan), TDK Corporation (Japan), Broadcom Inc. (US), Analog Devices, Inc. (US), Murata Manufacturing Co., Ltd (Japan), FUJITSU (Japan), SmartThings Inc. (US) Texas Instruments Incorporated (US), STMicroelectronics (US), TE Connectivity (Switzerland), Infineon Technologies AG (Germany), and Robert Bosch GmbH (Germany).

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
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