Wireless Sensor Networks Market to grow by USD 92.39 billion from 2022 to 2027, Growth Driven by Increasing Adoption of Industry 4.0- Technavio

NEW YORK, Sept. 12, 2023 /PRNewswire/ -- The wireless sensor networks market by end-user (building automation, wearable devices, healthcare, automotive and transportation, and others), component (hardware, software, and services), and geography (North America, APAC, Europe, South America, and the Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the wireless sensor networks market from 2022 to 2027 is USD 92.39  billion, according to Technavio. The increasing adoption of Industry 4.0 is a key factor driving market growth. The new industrial revolution, also known as Industry 4.0, mainly consists of integrating advanced technologies, including IoT, cloud computing, and data analytics, to create smart factories. One of the key components of Industry 4.0 is wireless sensor networks, as they help end users monitor and manage many industrial processes in real-time. Therefore, the increasing use of wireless sensor networks in industrial automation will have a positive impact on the wireless sensor network (WSN) market. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Wireless Sensor Networks Market - Market Dynamics

Significant Challenge

Increasing challenges in delivering high-quality wireless sensor networks at low cost are restricting market growth. 

Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now

Wireless Sensor Networks Market - Market Segmentation

The wireless sensor networks market has been segmented by end-user (building automation, wearable devices, healthcare, automotive and transportation, and others), component (hardware, software, and services), and geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The building automation segment is estimated to witness significant growth during the forecast period. Major applications of building automation systems (BAS) include monitoring and control of heating, ventilation, and air-conditioning (HVAC) systems, building facility management (lighting, security, and security), and automatic electricity meter readings. This segment is widely used to improve the quality of construction technology and reduce operating and maintenance costs. Furthermore, due to the affordability of wireless sensor networks, they are increasingly being applied to deploying building automation systems. Hence, these factors are expected to drive segment growth during the forecast period.

• North America is estimated to contribute 30% to the growth of the global market during the forecast period. 

 View the Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Wireless Sensor Networks Market:

ABB Ltd., Advantech Co. Ltd., Analog Devices Inc., Banner Engineering Corp., Cisco Systems Inc., Dell Technologies Inc., Emerson Electric Co., Endress Hauser Group Services AG, Honeywell International Inc., Intel Corp., International Business Machines Corp., Lantronix Inc., Microsoft Corp., NXP Semiconductors NV, Schneider Electric SE, Siemens AG, STMicroelectronics NV, TE Connectivity Ltd., Texas Instruments Inc., and Yokogawa Electric Corp.

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Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User

Market Segmentation by Comp

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Website: www.technavio.com

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