Wireless Sensor Network Market Trends, Development, Analysis And Forecasts To 2023

1. Wireless Sensor Network Market Development, Trends, Analysis And Forecasts To 2023 “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 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. This wireless sensor network market, in this report has been segmented on the basis of offering, sensor type, connectivity type, end-user industry, and region. On the basis of offering, the wireless sensor network market has been segmented into hardware, software, services. 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. 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. Download PDF Brochure @https://www.marketsandmarkets.com/pdfdownload.asp?id=445

2. 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. Request Sample Copy of this Market Research @ https://www.marketsandmarkets.com/requestCustomization.asp?id=445 North America held a major share of the WSN market in 2016 The increased R&D 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 R&D 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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