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Wireless Sensor Network Market to Reach $93 Billion by 2023 - Driven by Growing Market for Wearable & Smart Devices - Research and MarketsDUBLIN, June 23, 2017 /PRNewswire/ -- Research and Markets has announced the addition of the "Wireless Sensor Network Market by Offering (Hardware, Software, Services), Sensor Type, Connectivity Type, End-user Industry (Building Automation, Wearable Devices, Healthcare, Automotive & Transportation), & Region - Global Forecast to 2023" report to their offering. The wireless sensor network (WSN) market was valued at USD 29.06 Billion in 2016 and is expected to reach USD 93.86 Billion by 2023, at a CAGR of 18.55% between 2017 and 2023. The increasing need for remote monitoring of equipment, growing market for wearable and smart devices, and advancements in connectivity technologies play a significant role in the growth of the WSN market. The WSN market, on the basis of sensor type, has been segmented into various sensors. Ambient light sensors have a wide range of applications in industries such as automotive, retail, wearable devices, and building automation. Due to the extensive usage of these sensors in building automation, ambient light sensors held the largest share of the wireless sensor network market in 2016. In comparison to other wireless connectivity technologies, NFC is a customized technology as it combines the interface of a reader and a smartcard into a single device. It enables two-way interactions between electronic devices, especially smartphones, allowing users to access digital content, make contactless payment transactions, and connect and share information between IoT-enabled electronic devices. The WSN market, on the basis of end-user industry, has been segmented into building automation, wearable devices, healthcare, industrial, automotive & transportation, oil & gas, retail, agriculture, aerospace & defense, and BFSI. The need for increased level of security, activity monitoring, and access control has led to the rise in the demand for WSNs. The high adoption of building automation systems to increase energy efficiency to save energy and costs is also contributing to the growth of the WSN market for building automation. Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/research/frffsp/wireless_sensor Media Contact: Research and Markets |