LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global industrial wireless sensors market is projected to grow to USD 3.84 billion by 2021, at a CAGR of more than 11% over the forecast period.
This research report titled ‘Global Industrial Wireless Sensors Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
EMEA is the fastest growing regional segment of the global industrial wireless sensors market, projected to register a CAGR of close to 14% by 2021. The high innovation competency of Europe-based sensor suppliers is driving many global sensor companies to acquire their products, which is positively impacting the growth of the market segment.
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Based on the product type, the report categorizes the global industrial wireless sensors market into the following segments:
- Wireless flow sensors
- Wireless temperature sensors
- Wireless gas sensors
- Wireless pressure sensors
- Others
The top three revenue-generating product segments in the global industrial wireless sensors market are discussed below:
Wireless flow sensors
“Wireless flow sensors occupy a majority 45% of the global industrial wireless sensors market. Since these sensors are strong and reliable, they can be used in day-to-day industrial applications, which is driving their high adoption rates,” says Raghav Bharadwaj Shivaswamy, a lead analyst at Technavio for automation research.
Flow sensors are devices that are used to directly or inferentially measure the flow rate of the liquid/fluid. They can be used for accurately measuring gas, liquid, and steam. These flow sensors are used widely in the oil and gas, chemical and petrochemical, and food and beverage industries.
Wireless temperature sensors
Wireless temperature sensors are mainly used for system monitoring tasks, such as control, protection, and calibration. These sensors provide extremely accurate and reproducible results, requiring no compensation circuitry and calibration. The chemicals and petrochemicals, oil and gas, power generation, and food and beverages, healthcare, automotive, and HVAC industries are the key end-users for the market segment. The need for compliance towards government environmental regulations and safety norms are expected to boost the growth of the market further. Also, the advent of MEMS sensors is another factor impacting the market segment.
Wireless gas sensors
“Wireless gas sensors will quickly increase its market shares, growing at a CAGR of close to 14% over the forecast period. Gas sensors are widely used in industrial operations to detect the concentration of harmful gases that are released into the environment,” says Raghav.
The laser-based gas detection technology is the most widely adopted technology in gas sensors and finds high adoption rates among the oil and gas, chemical and petrochemical, pharmaceutical, and food and beverage industries and in building automation.
The top vendors highlighted by Technavio’s research analysts in this report are:
- ABB
- Honeywell International
- Rockwell Automation
- Siemens AG
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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