Wireless Sensor Networks Market

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MarketsandMarkets Research Private Ltd.
Presents
Wireless Sensor Network Market worth 93.86
Billion USD by 2023
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ireless-sensor-networks-market-445.html
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According to the market research report "Wireless
Sensor Network Market by Offering (Hardware,
Software, Services), Sensor Type, Connectivity
Type, End-user Industry (Building Automation,
Wearable Devices, Healthcare, Automotive
Transportation, Industrial), and Region - Global
Forecast to 2023", the wireless sensor network
(WSN) market, the 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. Browse gtgt
107 Market data tables
66 figures 246 pages and
in-depth TOC on Wireless Sensor Network Market
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The growth of this market is propelled by the
development of cheaper, smarter, and smaller
sensors expanding market for smart and wearable
devices increasing need for real-time computing
of applications and surge in demand for IoT
sensors for various applications such as sensing,
recognition, and interpretation. Software to
hold the largest size of the wireless sensor
network by 2023 The software components of WSNs
include platforms and solutions that are vital
for applications such data collection or remote
monitoring. Software solutions are designed to
meet the interoperability challenges that arise
due to varied heterogeneous devices, and to
manage a large volume of data and their security
and privacy. Factors such as increasing number of
connected devices and rising need for remote
monitoring have led to the growing adoption of
software solutions. Market for BFSI industry to
grow at a high rate between 2017 and 2023 IoT
technology can drive the banking, financial
services, and insurance (BFSI) end-use
applications by developing and adding more
convenient solutions for customers. It can be
used for real-time data collection and instant
communication between devices. Kiosks can be used
for bank transactions they provide customers
with rapid access to information and services. An
interactive kiosk can collect data whenever a
customer uses it, which can further be used in
customer behavior analysis. The BFSI industry is
rapidly moving toward digitization and
connectivity-dependent applications. Due to this
reason, the wireless sensor network market for
this industry is expected to grow at a high rate
between 2017 and 2023.
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North America held a major share of the WSN
market in 2016 The increased RD in the field of
IoT, in terms of new and improved technologies,
as well as the rising demand for improved
lifestyle are the two crucial factors driving the
growth of the wireless sensor network market in
North America. In addition, the increasing RD at
both academic and industry levels is broadening
the application areas of IoT in different
applications such as building automation, retail,
automotive transportation, and healthcare,
especially in the US. The major players in the
wireless sensor network market include Intel
Corporation (US), ABB Ltd. (Switzerland), Texas
Instruments Inc. (US), Huawei Investment
Holding Co., Ltd. (China), Cisco Systems Inc.
(US), STMicroelectronics N.V. (Netherlands), TE
Connectivity Ltd. (Switzerland), NXP
Semiconductor N.V. (Netherlands), Dell Inc. (US),
Hewlett Packard Enterprise Company (US), Robert
Bosch GmbH (Germany), Advantech Co., Ltd.
(Taiwan), Honeywell International Inc. (US),
Broadcom Limited (US), Infineon Technologies AG
(Germany), Emerson Electric Company (US), Analog
Devices Inc. (US), Eurotech S.p.A (Italy),
Invensense Inc. (US), and Sensirion AG
(Switzerland). Some of the important start-ups in
the market are SmartThings Inc. (US), Episensor
Ltd. (Ireland), Notion (US), Helium Systems Inc.
(US), and Beep Inc. (US).
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