Battery-free Sensors Market expected to reach 9 Million, at a CAGR of 27.6%

Posted by Vikas Gadiya on April 25th, 2023

According to Research report "Battery-free Sensors Market with Analysis, by Sensor Type (Temperature Sensors, Humidity/Moisture Sensors, Pressure Sensors), Frequency, Industry (Automotive, Logistics, Healthcare, Food & Beverages), and Region - Global Forecast to 2026", The global battery-free sensors market size is projected to grow from USD 32 million in 2021 to USD 109 million by 2026; it is expected to grow at a CAGR of 27.6% from 2021 to 2026. With rapid technological advancements, battery-free sensors are increasingly adopted in IoT applications to improve production efficiency and reduce operational and maintenance costs in the wake of COVID-19. Additionally, the ongoing miniaturization of medical and electronic devices and the growing implementation of automated condition monitoring solutions in smart factories are expected to boost the growth of the battery-free sensors market during the forecast period.

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Driver: Rising use of battery-less sensors in IoT applications to reduce maintenance costs, coupled with rapid advancements in sensing technology

Significant technological developments since the past decade have resulted in a considerable reduction in the size of different types of sensors, such as temperature, level, pressure, and image sensors. The use of RFID technology instead of a battery has helped manufacturers reduce the size of sensors to a great extent. Thus, owing to the rapid reduction in the sensor size, sensors are increasingly being used in automotive, healthcare, consumer electronics, and many other industries.

Opportunity: High implementation of predictive maintenance programs in industrial environments

Predictive maintenance (PdM) is one of the key opportunity areas for the battery-free sensors market. It is an important tool for industrial, transportation, and healthcare verticals. PdM helps reduce the operating and capital costs of Industrial IoT (IIoT) by facilitating proactive servicing and repair of assets while allowing more efficient use of repair resources both human labor and replacement products. PdM gives companies the ability to accurately diagnose and prevent failures in real-time, which is vital for critical infrastructure applications.

APAC is projected to be the largest market for battery-free sensors from 2021 to 2026.

Battery-free sensors market in APAC is expected to grow at the highest CAGR during 2021−2026. Ongoing industrialization, growing adoption of predictive maintenance tools, and increasing competitive pressure to achieve operational efficiency are fueling the growth of the battery-free sensors market in this region. The expansion of manufacturing activities resulting from the migration of production bases to Asian countries, such as China, India, and South Korea, with low labor costs, drives the demand for battery-free sensors in the region. However, the outbreak of COVID-19 has impacted the manufacturing facilities of all verticals across the world, forcing them to shut down. However, production has resumed in a few facilities in China, thereby initiating the manufacturing of some essentials.

ON Semiconductor (UK), Farsens (Spain), Axzon (Rfmicron) (US), Inductosense (UK), Phase IV Engineering (US), Powercast (US), Distech Controls (US), EnOcean (Germany), DCO Systems (UK), and Everactive (US), are some of the major players in battery-free sensors market.

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