Worldwide Wireless Temperature Sensors Industry to 2025 - Building Automation Sector Expected to Hold Significant Share - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 16, 2020--
The “Wireless Temperature Sensors Market - Growth, Trends, and Forecasts (2020 - 2025)” report has been added to ResearchAndMarkets.com’s offering.
The global wireless temperature sensors market (henceforth referred to as the market studied) was valued at 15.09 million units in 2019. It is expected to register a CAGR of about 7%, during the period of 2020- 2025.
The adoption of process and monitoring automation in the industrial operations is the major driver augmenting the demand for wireless sensors in asset monitoring, security, and quality assurance. The improved reliability of networked equipment with communication technology advancements is a significant factor driving the market for wireless temperature sensors.
- ABB Ltd
- Schneider Electric SE
- Emerson Electric Co.
- Analog Devices Inc.
- NXP Semiconductors NV
- Honeywell International Inc.
- Siemens AG
- Texas Instruments Incorporated
- Yokogawa Electric Corporation
- Microchip Technology Inc.
Key Market Trends
Building Automation Sector Expected to Hold Significant Share
Sensor technology is becoming an integral part of the smart, green, and energy-efficient buildings. In building automation, many current designs can adjust for occupancy and compensate for the external conditions, such as outside air temperature.
- The integrated building solution system with wireless temperature sensors accesses control to share information and strategies to reduce energy consumption, improve energy efficiency management, and provide value-added functionality. This factor increases energy and operational efficiency and provides a level of occupant control unmatched by single- purpose and non-integrated systems.
- Globally, due to the increasing government regulations across developed and developing countries, most of the buildings need smarter heating and cooling. The wireless temperature sensors are used in smart home devices to monitor physical and environmental conditions, such as temperature, to pass the data in a structured manner through the network to the primary location. So the growth in smart home devices is directly impacting the growth of the wireless temperature sensors market.
- European standards, like PD 6662 that set standards for intruder and hold-up alarm systems (I&HAS) in buildings, are also aiding in the installation of smart solutions. In India, the penetration of the smart home is expected to increase to almost 10% by the end of 2023 from 0.8% in 2018, which includes expansion of smart home technologies, such as control, connectivity, and other smart appliances.
North America is Expected to Hold a Major Share
Adopting smart factories, intelligent manufacturing, and the presence of multiple industrial wireless temperature sensor manufacturers and system integrators in the different parts of North America are expected to drive growth in the market.
- In North America, the 5G adoption initiative has made it possible for temperature sensor network to transfer multimedia files at a fast rate and enable MIMO (Multiple Input Multiple Output) networking capabilities. Furthermore, avoiding wired sensors and replace them with wireless temperature sensors in commercial spaces result in reduced maintenance and increased space availability.
- For instance, In the United States, existing wireless technologies in the communication industry, such as the IEEE 802.15.4 communication protocol with reduced power consumption by continuous investment in strengthening the 5G adoption, MIMO communication, and industry 4.0 capabilities are expected to create a supportive ecosystem for the market players.
- The adoption of smart homes integrated with HVAC equipment is expected to witness rapid growth in the future, giving rise to the increased adoption of wireless temperature sensors. In various countries, like China, India, and the United States (twelve of the top 50 smart cities are located in the United States), the demand for such sensors is expected to grow.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter’s Five Forces Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Adoption of Wireless Technologies (Especially in Harsh Environments)
5.1.2 Declining Unit Cost of Wireless Sensors
5.2 Market Challenges
5.2.1 Higher Security Needs and Infrastructure Updating Costs
5.3 Technology Snapshot
5.3.1 Network Technology (Connectivity)
18.104.22.168 Other Network Technologies
5.3.2 By Technology
22.214.171.124 Other Technologies
6 MARKET SEGMENTATION
6.1 By End-user Application
6.1.1 Military and Security
6.1.4 Industrial Monitoring
6.1.5 Building Automation
6.1.6 Other End-user Applications
6.2.1 North America
6.2.4 Latin America
6.2.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/pa7847
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PUB: 12/16/2020 06:51 AM/DISC: 12/16/2020 06:51 AM