The global wireless sensors market is expected to demonstrate a healthy double-digit CAGR during the forecast period of 2012 to 2018. Wireless sensors are high in demand as they find application in several sectors such as forest fire detection, water management, flood detection, greenhouse gas emission monitoring, pest and disease detection, soil monitoring, ambient air monitoring, vehicular movement and management, and precision irrigation management.
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Wireless Sensors Market to Benefit from their Increasing Use in End-use Industries
Operators using wireless sensors can continuously monitor processes in hazardous environments and gain information in a remote monitoring facility, which is located at a safe distance. Furthermore, wireless measurement can also aid in obtaining data from sites that are physically hard to access.
The global wireless sensors market is segmented by product type into physical sensors, mechanical sensors, biosensors, chemical sensors, gas sensors, proximity sensors, position sensors, level sensors, motion sensors, mechanical sensors, acoustic sensors, pressure sensors, humidity sensors, temperature sensors, and flow sensors. The global wireless sensors market will grow rapidly in the future, as these sensors have become an integral part of several industries.
Rising Availability of Wireless Sensors to Fuel Global Market
Though the global wireless sensors market will demonstrate healthy growth in the foreseeable future and this market is a decade old, its growth till now has not been up to the mark. The market faces a number of challenges from the end-use and technical point of view. These are some major setbacks for the wireless sensing technology. Nevertheless, the wireless sensor market is projected to experience good growth in the coming few years attributed to the increasing technological advancements in the field of wireless sensing technology.
Furthermore, the rising availability of wireless sensors will also fuel the growth of the global wireless sensors market. Another element that will drive the global wireless sensors market in the foreseeable future is the accelerating adoption of wireless sensors in several end-use industries. The decreasing prices of wireless sensors along with the increasing adoption of these sensors in industrial wireless sensor networks (ISWN) is expected to boost the market further.
Innovation: The Key Strategy of Players in the Global Wireless Sensors Market
The global wireless sensors market is at its nascent stage. Hence, the market is highly fragmented in nature and disorganized. Geographically, the global wireless sensors market is segmented into North America, Asia Pacific, Europe, and Rest of the World.
Some of the notable players operating in the global wireless sensors market are ABB, Microstrain, Greenpeak, Gastronics, Enocean, Emerson, Ember, ELTAV, Dust Networks, Cymbet, Chevron, Cardiomems, BSC Computer, BAE Systems, Atmel, Aruba Networks, Apprion, Ambient Micro, Adaptive Energy, and ABB. Companies in the market are competing on the basis of innovation. In May 2015, ABB announced the world’s first wireless temperature sensor that has the capability to warm itself, called TSP300-W Wireless Hart. In June 2015, WaterCopPro Integrated bagged an innovation award for their technology that uses a wireless sensor to communicate about an indoor shutoff valve after detecting a leak.
Besides innovation, another strategy adopted by firms in the global wireless sensors market is that of tactical mergers and acquisitions.