Wireless Sensors Network Market - Growth, Trends, COVID-19 Impact, and Forecasts

Posted by Statzy Market Research on April 6th, 2021

- The growing automation and robotics industry, increasing demand for wireless sensor network in asset monitoring, security, and transportation, and improved reliability with the communication technology advancements are the significant factors driving the market for wireless sensors network (WSN).

- Significant investments in the industry to develop new sensor technologies and upgrading existing infrastructure to support IoT and automation have been the primary trends, impacting the industry on a global scale.

- Sensor manufacturers are heavily investing in technology, to cater to emerging verticals, such as smart cities and autonomous vehicles, which are substantially dependent on wireless technologies. Innovation in sensor technologies, such as intelligent sensors, is expected to support the rapid adoption of wireless technologies in the market. All these factors may contribute to the growth of the wireless sensors network market.

Key Market Trends

The Medical Segment is Expected to Witness Significant Growth

- Continuous health monitoring using wireless body area networks of implantable and wearable medical devices is envisioned as a transformative approach to healthcare. Rapid advances in biomedical sensors, low-power electronics, and wireless communications have brought this vision to the verge of reality.

- The aim of these applications is to ensure continuous monitoring of the patients vital parameters, while giving them the freedom of moving. In doing so, WBANs result in an enhanced quality of healthcare.

- Moreover, with an increase in connected healthcare IoT devices, the WSN is expected to gain a significant growth.

- For instance, in the European Union, IoT solutions are growing rapidly and there are lot of opportunities for the health sector in this market. The number of IoT healthcare active connections is expected to increase in the forecast period, thereby driving the WSN market.

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North America is Expected to Account for the Largest Market Share

- North America has emerged as the priority choice for the market vendors in the market studied, as the region is highly benefitted by the presence of the critical infrastructure necessary for the solution.

- Adoption of smart factories, intelligent manufacturing, and the presence of many industrial wireless sensors network manufacturers are expected to drive the growth of the North American market in the near future.

- The presence of a number of key players, such as ABB Ltd, Emerson Electric Co., and Honeywell International Inc. is also expected to prompt the growth of the market in this region.

- Moreover, the North American freight railroad industry is also trying to leverage WSN onboard railcars for advanced monitoring and alerting. In railroad environments, freight train WSNs exhibit a linear chain-like topology of significant length.

- Furthermore, with the increasing penetration of wearable devices in the commercial market, wearable devices are also becoming increasingly popular for industrial usage, due to their numerous benefits. For instance, Airbus implemented wearable devices in the aerospace and defense industries in collaboration with Accenture.

Competitive Landscape

The wireless sensors network market is a fragmented market. It is a highly competitive market without many dominant players present in the market.

- March 2018 - Lord Corporation announced the launch of new network ready wireless gateway. The new WSDA 2000 Wireless Sensor Data Aggregator connects high speed sensor data directly to the cloud. By using this, users can capture up to 256,000 samples per second across the wireless sensor network, with up to 4,000 samples per second per node.

- November 2017 - Honeywell launched new connected gas sensors to support safe industrial operations. The new Sensepoint XRL is a fixed gas detector that monitors industrial operations for specific hazardous gases, such as carbon monoxide or methane.

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