Wireless Temperature Sensor Market Share, Development by Companies Outlook, GrowPosted by RahulGadve on August 24th, 2021 The global wireless temperature sensor market size is projected to reach USD 3,129.8 million by the end of 2027. The increasing demand for the product is consequential to the rapidly rising cases of coronavirus across the world. According to a report published by Fortune Business Insights, titled “Wireless Temperature Sensor Market Size, Size & COVID-19 Impact Analysis, By Type (Thermocouple, Thermistor, Resistance Temperature Detector (RTD), Semiconductor Temperature Sensor, Infrared Temperature Sensor, and Others), By Channel Output (Single-channel, Multi-channel), By Technology (Wi-Fi, Bluetooth, ZigBee, Radio-frequency identification (RFID), and Others), By End-user (Healthcare, Consumer Electronics, Automotive, Aerospace and Defense, Food and Beverages, Energy and Power, Oil and Gas, Chemicals, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 1,816.0 million in 2019 and will exhibit a CAGR of 7.2% during the forecast period, 2020-2027. Wireless temperature sensors are used to check and monitor the temperature of any material, human, or substance where temperature of that particular subject is to be checked without having to be in contact. Technological intervention in temperature monitoring has played a huge role in the growth of the overall Wireless Temperature Sensor Market in recent years. Several large scale manufacturers are focused on implementing advanced concepts such as IR sensors and heat sensors. The use of technologically advanced concepts will open up a huge potential for the growth of the overall Wireless Temperature Sensor Market in the coming years. Moreover, increasing product applications will create a massive platform for growth for the companies operating in the global market. The increasing applications of wireless temperature sensor across diverse industry verticals, including healthcare, aerospace and defense, electronics, and consumer goods, will bode well for market growth. Highlights of the Report:
Surge in Wireless Temperature Sensors during Covid-19 to Create a Massive Platform for Manufacturers The recent coronavirus outbreak has created a sense of panic across the world. The rapid spread of the disease has compelled governments across the world to implement strict lockdowns and advise social distancing practises. Despite the fact that Covid-19 has had an adverse effect on several industries, a few businesses have essentially benefited from the pandemic. A few businesses in the healthcare sector, for instance, have hugely benefited from the Covid-19 pandemic. It has been a similar situation for manufacturers in the wireless temperature sensor market. There has been a sudden rise in the demand for these products during the pandemic across the world. Wireless temperature sensor is being used to check the temperature of almost all people that are operating at or visit public spaces. Constant Product Innovations will Emerge in Favor of Market Growth The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of product launches has made the highest impact on the growth of the Wireless Temperature Sensor Market in recent years. Accounting to the huge demand for wireless sensors across the world, several companies are focusing on innovative products with the aim of covering a wider consumer area. The use of technologically advanced products will help ward off the competition in an otherwise competitive market. In May 2020, CubeWorks Inc. announced the launch of a self-contained smart sensing platform. The ‘CubiSens’ is a self-contained platform that is inclusive of three different wireless temperature sensors. The product was introduced with the aim of temperature monitoring due to the mounting coronavirus cases. North America to Emerge Dominant; Presence of Several Large Scale Companies to Aid Growth The report analyses the ongoing Wireless Temperature Sensor Market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The presence of several large scale companies will provide impetus to the growth of the regional market. The recent coronavirus outbreak has had a huge say in the market behavior. The rising coronavirus cases, especially in the United States, will emerge in favor of the regional operators as well as other global companies. Subsequently, the presence of numerous such companies in this sector will emerge in favor of the growth of the regional market. As of 2019, the Wireless Temperature Sensor Market in North America was worth USD 659.9 million and this value is projected to increase further in the coming years. List of companies profiled in the Wireless Temperature Sensor Market report:
Key questions answered in the report:
July 2020: - Yokogawa Electric Corporation announced the launch of a new pressure and temperature sensors - \"XS110A/XS550\" for the Sushi Sensor. This product was launched with the aim of expanding sushi sensor\'s wireless industrial IoT solution lineup in North America, Southeast Asia, and Europe. Table of Contents Wireless temperature sensor market: 1. Introduction
2. Executive Summary 3. Market Dynamics 3.1 Macro and Micro Economic Indicators 3.2 Drivers, Restraints, Opportunities and Trends 3.3. Impact of COVID-19
4.Competition Landscape
5. Key Market Insights and Analysis, By Segments Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. Contact: Name: Ashwin Arora Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245 Like it? Share it! More by this author |